– September 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of September.
September 2022 – Video
Scottsdale Active Listings
Inventory has been on the rise for the last several months. And although we are still not at “normal” inventory levels, there are a lot more homes for buyers to choose from.
The number of homes for sale was up 78% compared to the same time last year and was up 3% compared to the end of August.
Median List Price for Scottsdale Homes
A quick and easy way to get a sense of how affordable or expensive a location is is to look at the median listing price. The median listing price is the exact midpoint of all of the home prices in the area, with 50% being priced higher and 50% being priced lower.
September’s median listing price was $1.23 million. This is up over last September’s $1.1 million and up slightly from August’s $1.16 million.
Days on Market
Days on Market, frequently referred to as DOM, measures how quickly, or slowly, homes are selling in a given market. A high DOM means homes are taking longer to sell and a low DOM means homes are selling at a brisker pace.
The DOM for Scottsdale in September was 51 days. This is up 24% compared to last September’s 41 days.
Median Sales Price for Scottsdale Homes
Similar to the median listing price we saw above, we now turn to the median sales price, or the exact midpoint price of homes that sold during the month.
The median sales price for September 2022 was $950K. This is up $100K from last September, but down slightly from August 2022’s $960K.
Number of Homes Sold
This final section covers home sales in Scottsdale during September.
On a year-over-year basis, sales were down 40% with September’s sales coming in at 291. I would attribute this to higher interest rates and higher home prices coupled with seasonality.
On a month-over-month basis, sales were down 10% from August’s numbers.
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.
