Quick Video Update of the Scottsdale Real Estate Market

– June 2024 Scottsdale Housing Market Video –

Here is a quick video overview of the Scottsdale, Arizona single-family home real estate market that covers the month of June.

June 2024 – Video

Scottsdale Active Listings

The number of homes for sale dropped again in June. Some of this can be attributed to owners taking their homes off of the market during the hot summer months.

At the end of June, there were 1,132 homes for sale in Scottsdale. This is 8.2% lower than the end of May, but up 27.3% when looking back at June 2023.

Average List Price for Scottsdale Homes

I used to use median listing price data, but I no longer have accurate access to that information. Instead, I will track average listing prices. (Technically, the median price is a better indicator since the average price can skew one way or the other due to extremely low or extremely high list prices, but this will still give you a decent idea of the prices of homes in Scottsdale.)

This is the second month in a row where we have seen the average list price decrease from the previous month. Prices were down 3.6% between May and June. However, it was up 4.8% when compared to June 2023.

Days on Market

Days on Market, (also referred to as DOM,) is a way to get a quick understanding of the market or a segment of the market. It looks at how long it takes homes to sell. Low numbers mean homes are selling more quickly and high numbers mean homes are selling at a slower pace.

The DOM in June went up quite sharply and this correlates with what we have been seeing in terms of contract activity and sales activity. The Days on Market for June was 87. This is up 18.4% from May and up 16.1% from June 2023.

Average Sales Price for Scottsdale Homes

Scottsdale average sales price June 2024

After dropping in May, the average sales price was back up in June.

June’s average sales price was just over $1.63 million. This is up 6.7% compared with May and up 8.1% compared to the same time last year.

Number of Homes Sold

Finally, we will take a look at home sales. For the past several years, we have seen sales activity keep going somewhat strong into June, but this June, sales fell significantly.

The number of homes sold in June was down 24.1% compared to May and down a significant 36.4% compared with June 2023.

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.