– February 2017 Scottsdale Housing Market Video –
February 2017 – Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of February.
Here is a look at the number of homes on the market at the end of February 2016 and February 2107, respectively. As you can see, inventory dropped by 12%.
Here is the same measurement, but it looks at homes on the market at the end of January and February 2017. Inventory was up 4%.
This is common as many sellers want to have their homes on the market during the high season.
Median List Price for Scottsdale Homes
This next metric is the median list price of homes in Scottsdale in February. The median list price indicates that exactly half of homes were priced higher and half were priced lower.
In February 2017, the median list price was $895,000. This is quite a bit higher than the same time in February of 2016.
Days on Market
DOM or Days on Market is a way to see how quickly (or slowly) homes are selling. If you see a high DOM, the market is slower or is a special segment of the market, like luxury homes. A low DOM indicates a warmer market where homes sell more quickly.
The average DOM in February 2017 was 110. This is up 10% from the same timeframe last year.
Median Sales Price for Scottsdale Homes
This next one is median sales price. Just like the median asking price, half of the homes were priced higher and half priced lower.
February 2017’s median sales price was $509,000. This us up over the previous month but down from February 2016.
Number of Homes Sold
These last two images are showing homes sold in Scottsdale.
February 2017 home sales were up 12% over the same time in 2016. This is a good performance.
If we look at January 2017’s sale in comparison with February 2017, sales were up 2%.
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.
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Disclaimer: Data deemed to be accurate, but is not guaranteed.