Quick Video Update of the Scottsdale Real Estate Market - November 2017
- November 2017 Scottsdale Housing Market Video -
November 2017 - Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of November.
Scottsdale Active Listings
Here is a look at how many homes were for sale at the end of November 2017 compared to November 2016. Inventory was down 14% between the two time frames. There was also a 14% decrease in inventory between September and October.
Here is housing inventory again, with a month-over-month comparison. Inventory saw a 3% decline between the end of November and the end of October.
Median List Price for Scottsdale Homes
Median list price is a metric that tells you the midpoint of home asking prices. Half of the homes for sale are priced higher and half of the homes are priced lower.
The median list price in November was $895,000. This is almost a $100K increase from November 2016 where it was $800,000.
Days on Market
Days on Market (also referred to as DOM) is a quick metric that gives you an idea of how healthy a given real estate market is. A high DOM means homes are selling more slowly and a low DOM means homes are selling more quickly.
November 2017's DOM was 88, down 8% from November 2016's 96 days.
Median Sales Price for Scottsdale Homes
Similar to the median asking price above, this is the median sales price for homes.
November's median home sales price was $537,200. This is up quite a bit over November 2016's $495,800 and is also up over October's $490,000.
Number of Homes Sold
This final section will cover home sales on a year-over-year basis and a month-over-month basis. Between November 2016 and 2017, sales were up 8%.
However, between October and November 2017, sales were down by 4%.
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 [email protected].
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Disclaimer: Data deemed to be accurate, but is not guaranteed.