Quick Video Update of the Scottsdale Real Estate Market

– December 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 December.

December 2024 – Video

Scottsdale Active Listings

Active listings fell at the end of December. We see this happen seasonally since some sellers take their homes off of the market for the holidays and many listing contracts expire at the end of the year.

We saw a drop of 17.9% in listings between November and December. However, inventory was up 10.5% when compared with December 2023.

Average List Price for Scottsdale Homes

Scottsdale average list price December 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.)

Scottsdale’s average list price came in just above $2.5 million. Average list price has been more or less increasing each month for a while.

Compared to November, the average list price was up 4.4% and if you look back to the same month last year, the average list price increased 3.3%.

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

Days on Market

Days on Market, (also referred to as DOM,) is a simple and easy way to track the health of a market by measuring how long it is taking homes to sell on average. High DOMs indicate homes are taking longer to sell and a low DOM means homes are selling at a rapid pace.

Scottdale’s DOM in December was 85. This higher number can be attributed to a $12 million dollar home that sold after being on the market for almost two years.

The DOM for December was 85. This is 16.9% higher than November and 11.8% higher than December 2023.

Average Sales Price for Scottsdale Homes

Scottsdale homes average sales price December 2024

This next section takes a look at what homes actually sold for. The average sales price was just under $1.6 million in December.

This is quite a bit (10.4%) higher than the average sales price in November. And when comparing year-over-year, December 2024’s average sales price was up 5.3%.

Number of Homes Sold

We saw a slight increase in end-of-year sales.

Home sales were up 4.3% when compared to November and up a healthy 12.5% when compared to December 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.