Quick Video Update of the Scottsdale Real Estate Market – March 2017

– March 2017 Scottsdale Housing Market Video –

March 2017 – Video

Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of March.

 

Active Listings

 

This first image shows you the number of homes that were on the market at the end of the month of March for 2016 and 2017. Scottsdale’s inventory was 11% lower than the same time last year.

 

 

 

This is a similar measurement, but here is it comparing the end of March 2017 to the end of February 2017. Inventory was up 2%.

Seeing homes come onto the market during March is part of our high season annually.

 

 

 

Median List Price for Scottsdale Homes

 

This image illustrates the median list price of homes in Scottsdale for the month of March.

The median list price is a value where exactly half of the homes are listed higher and half are lower. In this case, the median list price was $875,000. This is up quite a bit from March 2017.

 

Days on Market

Days on Market (DOM) is another measurement we use and it is a guide to how hot (or not) a market it. If homes are selling quickly, the DOM will be lower. However, if the homes are selling slowly or are higher priced homes that take longer to sell, the DOM will be higher.

In March, the DOM was 99 days, up 1% from March 2016.

 

 

Median Sales Price for Scottsdale Homes

This image covers the median sales prices of homes. Similar to the median list price, here it is the middle amount for home sales prices.

March 2017’s median sales price was $527,000. This us up over the previous month at $508,000 as well as up from March 2016’s $479,000.

 

 

Number of Homes Sold

Now we will take a look at homes sold in two ways. The top image looks at Scottsdale’s March home sales year-over-year. The lower image compares March 2017’s sales with February 2017’s sales.

Scottsdale home sales in March 2017 were up 14% over the same time in 2016. This is a good news for the market.

 

 

But here is an even more impressive statistic. Home sales were up 49% between February 2017 and March 2017.

 

 

 

 

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel

 

Disclaimer: Data deemed to be accurate, but is not guaranteed.