– June 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of June.
June 2022 – Video
Scottsdale Active Listings
We are finally seeing the inventory our market has desperately needed.
Inventory jumped 55% when we compare June 2021 to June 2022. And the number of homes for sale at the end of the month was up 19% from the end of May. Great news!
Median List Price for Scottsdale Homes
If you are not familiar with it, the median list price represents the exact midpoint of all of the homes on the market. Half of the prices will be higher and half will be lower.
June’s median list price was $1.3 million. This is the same it was last month and at the same time last year.
Days on Market
Days on market, also seen as DOM, is a quick metric that gives you an idea of the pace of home sales in a given market. A low DOM means that homes are selling more quickly. Alternatively, a high DOM means homes are lingering on the market longer.
The DOM for June came in at 30 days, which is where it was in June 2021 as well. This is quite low when you compare it to several years ago when it was closer to 100 days.
Median Sales Price for Scottsdale Homes
We looked at the median list price above and now we will look at the median sales price for homes that sold in June.
Scottsdale’s median sales price in June was $1.1 million. This is up quite a bit up from June 2021’s $878K and slightly up from last month’s $1.08 million.
Number of Homes Sold
This next section takes a look at home sales.
This first image compares sales activity between June 2022 and June 2021. Sales were down 30%.
This is due to a combination of many things including low inventory, increased interest rates and higher home prices. Also, sales activity does taper off seasonally during the summer months.
This second image compares June’s sales activity to May’s. Sales dropped 14%.
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.
