– January 2018 Scottsdale Housing Market Video –
January 2018 – Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of January.
Scottsdale Active Listings
Here we start off with a look at the housing inventory in Scottsdale. In this first image, we are looking at a year-over-year perspective. So, the number of homes for sale in Scottsdale this January versus last January was down 13%.
This is the same information, but using a month-over-month comparison.
The number of homes on the market in January was up 4% over December 2017.
Median List Price for Scottsdale Homes
If you are not familiar with median list price, it simply means it is the mid-point, where half of the homes are priced higher and half of the homes are priced lower.
In January, the median list price was $925,000. This is up quite a bit from January 2017’s $849,000 median list price.
Days on Market
Days on Market is a quick and easy way to gauge how well a market is performing. A high Days on Market (DOM) means things are moving more slowly, whereas a low DOM indicates a hotter market.
The DOM for January 2018 was 118. This is up 11% over January 2017’s 106 days.
Median Sales Price for Scottsdale Homes
Now we will look at the median sales price, versus list price.
January’s median home sales price was $551,300. This is up over $50,000 when looking at January 2017’s $500,000. However, it was down slightly from December 2017’s $555,000.
Number of Homes Sold
This final section covers home sales in Scottsdale.
There was a 9% increase in home sales when comparing January 2018 to January 2017.
However, if you look at December 2017 compared to January 2018, sales were down 4%. This makes sense as many buyers want to close before the end of the year for tax purposes. Sales should be headed up for the next several months.
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.