– September 2021 Scottsdale Housing Market Video –
Sales were up slightly in September, but we are seeing pending contracts drop.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of September.
September 2021 – Video
Scottsdale Active Listings
As I have mentioned many times, our Scottsdale and Greater Phoenix markets are facing low inventory levels. We do not expect them to rebound any time soon.
At the end of the month, there were 597 active listings. This is 47% lower than where inventory was in September 2021. And inventory fell by 9% between the end of August and September.
Median List Price for Scottsdale Homes
Now we will take a look at prices for Scottsdale homes on the market. The median list price represents the price where exactly half of the homes are priced higher and the other half are priced lower.
In September, the median list price was $1.15 million. This is slightly below last month’s and last’s years median list price of $1.18 million.
Days on Market
Days on Market (often seen as DOM) is a simple test to see how a market is faring. Low DOM means homes are selling more quickly and a high DOM means homes are lingering on the market a little longer.
After the past three months where the DOM was 35 days, we saw an increase to 41 days in September. That means homes took slightly longer to sell. But even though the DOM was higher in September, it was still much lower than September 2020’s 71 days.
Median Sales Price for Scottsdale Homes
This section covers the median sale price in Scottsdale in September. This is the midpoint sales price of all of the homes that sold.
The median sale price was $850K. This is down slightly from last month, but over a $100K increase from September 2020’s $726K.
Number of Homes Sold
Finally, we will examine Scottsdale homes sales in September.
This first image looks at sales volume on a year-over-year basis. Sales were down 10% compared to 2020. However, it is to be noted that there were quite a bit more homes for sale in September 2020. Our low inventory has had a part in fewer sales.
This second image looks at sales on a month-over- month basis. Sales were actually up by 1% compared to August.
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.
Interested in other stats for our market? Visit our Real Estate Market Update page.
Disclaimer: Data deemed to be accurate, but is not guaranteed.
