Quick Video Update of the Scottsdale Real Estate Market

– October 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 October.

October 2024 – Video

Scottsdale Active Listings

Inventory continues to increase and we are now getting close to more “traditional” inventory levels.

The number of homes for sale was up 11.3% when compared to September and up 14.7% when compared to October 2023.

Average List Price for Scottsdale Homes

Scottsdale average list price October 2024

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.)

The average listing price continued increasing in October. It has been moving in that direction for a while.

Average listing prices were up 4.4% when compared to the previous month and up 3.5% when compared to the same time period last year.

Days on Market

Days on Market, (also referred to as DOM,) is a simple but effective way to gauge the health of a market. When homes are selling quickly, we will see a low DOM. And, if homes are lingering on the market, we will see a high DOM.

In October, it took an average of 78 days for homes to sell.

This is a decrease of 5.7% from September’s 87 days. However, it was a 21.8% increase compared to October 2023’s 61 days.

Average Sales Price for Scottsdale Homes

Scottsdale average sales price October 2024

Now we will look at the average sales price of Scottsdale homes in October. The average sales price was just over $1.45 million.

This is a bit lower than the previous month and October 2023. The average sales price was down 6.4% month-over-month and down 4.1% year-over-year.

Number of Homes Sold

Home sales were a bright spot in October. After heading back into the 300+ range, October 2024’s sales were 15.6% higher than September as well as October 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.