Quick Video Update of the Scottsdale Real Estate Market - October 2017
- October 2017 Scottsdale Housing Market Video -
October 2017 - Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of October.
Scottsdale Active Listings
Here is a look at the number of homes on the market in October compared to October 2016.
Inventory was down 14% between the two time frames.
This is also a look at home inventory, but this time is a month-over-month comparison.
Inventory was up another 4% between the end of September and the end of October.
Median List Price for Scottsdale Homes
If you are not familiar with the median price, it simply is a midpoint of all of the home prices. Exactly one-half of the homes for sale were priced above this price and the other half came in below.
The median list price in October was $850,000, a large increase from October 2016 where it was $795,000.
Days on Market
Days on Market ( or DOM) gives you an idea of how healthy a real estate market is. Low DOM means that homes are selling more quickly and that the market is seeing strong activity. On the flip side, a high DOM means sales are slower and that the market is cooler.
October 2017's DOM was 88, down 8% from October 2016's 96 days.
Median Sales Price for Scottsdale Homes
This next section is the median sales price for October. Half of the homes sold for more than and half sold for less than this figure.
October's median home sales price was $490,000. This is up slightly over October 2016's $482,000, but fell from September 2017's $550,000.
Number of Homes Sold
Now we will take a look at home sales in October.
First, we will look at sales on a yearly basis. Sales were up 4% between 2016 and 2017.
And when looking at a month-over-month snapshot, you can see sales were up 10%.
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.