Quick Video Update of the Scottsdale Real Estate Market – November 2024

– November 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.

November 2024 – Video

 

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Scottsdale Active Listings

The number of homes for sale fell slightly between October and November. However, we are now running closer to a “healthier” number of homes for sale.

Inventory was down 2.7% when compared to October and up 12.4% when compared to the same month last year.

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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.)

The average list price continued to increase again in November. 

It was up 7.3% when compared to the end of October and up 4.6% when compared to November 2023.

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Days on Market

Days on Market, (also referred to as DOM,) is a quick and easy way to get a sense of how a market is performing. If you see a high DOM, homes are lingering on the market. Conversely, if you see a low DOM, homes are selling at a more rapid pace.

November’s Days on Market was 71. This is a 9.9% decrease over October’s 78 days, but was a pretty big jump when compared to November 2023’s 59 days on market. 

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Average Sales Price for Scottsdale Homes

We analyzed the average list price above and will now explore the average sales price of Scottsdale homes. November’s average sales price was just over $1.42 million. 

November came in 2.8% lower than October but was up slightly (0.6%) when compared with November 2023.

 

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Number of Homes Sold

After a solid sales month in October, sales in November retreated. 

Home sales were down 7.9% month-over-month, but up 5.8% year-over-year. 

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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. Data was pulled from ARMLS on 12/1/2024.