The Scottsdale Housing Market In a Minute (Video) - May 2017
- May 2017 Scottsdale Housing Market Video -
May 2017 - Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of May.
Here is a chart tracking the inventory of homes for sale in Scottsdale at the end of May 2016 versus the end of May 2017. May 2017 ended with 14% fewer homes for sale than at the end of May 2016.
This is the same metric, but it is now looking comparing inventory between the end of April and May 2017. Inventory was down 9% month-over-month between April and May. This is due to another strong sales month, plus fewer homes being put onto the market as we head into the low season.
Median List Price for Scottsdale Homes
This screen shot shows a median list price comparison for the end of May 2017 and May 2016. The median list price is a measurement where exactly half of all homes are priced higher and half of all homes are priced lower. May's median list price was $869,000. As we have seen throughout this year, the 2017's median list price is tracking quite a bit higher than the same time in 2016.
Days on Market
Days on Market (DOM) is a measure that tracks how long homes are on the market before they sell. A higher DOM indicates a slower market and a lower DOM indicates a market where homes are selling more quickly. May's DOM was 98, down 1%.
Median Sales Price for Scottsdale Homes
This is a depiction of the median home sales prices, versus the list prices we saw earlier. Scottsdale's median home sales price was over $526,000 in May. This is up over May 2016 as well as April 2017.
Number of Homes Sold
The final two screenshots cover home sales in Scottsdale. This first image is a year-over-year comparison. As you can see, home sales in Scottsdale were up 13% between May 2017 and May 2016.
This second image has the same information, but on a month-over-month basis. May 2017 was another great sales month in Scottsdale, finishing the month with 16% more sales than the month before.
We hope that you have 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].
Click to watch other videos on our Live Better in Scottsdale YouTube Channel
Disclaimer: Data deemed to be accurate, but is not guaranteed.