– February 2018 Scottsdale Housing Market Video –
February 2018 – Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of February.
Scottsdale Active Listings
This first section looks at Scottsdale’s housing inventory during the month of February.
First, we will take a look at February 2018 compared with February 2017. The number of homes for sale was down quite a bit, or 17%.
This next image looks at inventory from a month-over-month perspective.
The number of homes on the market in February was down 2% over January 2017.
Median List Price for Scottsdale Homes
The median price is a measurement that shows the exact middle of home prices – i.e. half of the homes are priced higher and half of the homes are priced lower.
In February, the median list price was up to $950,000. This is up $100K from February 2017’s $850,000 median list price.
Days on Market
Days on Market (DOM) is another quick measurement that can tell you about the health of the market. It represents how long homes are staying on the market before selling. If you see a high days on market, that would indicate homes are selling more slowly. Conversely, a low DOM means it is a faster moving market.
The DOM for February 2018 was 95. This is well below February 2017’s 111 days and represents a 14% decrease.
Median Sales Price for Scottsdale Homes
This is median price again, but this time we are looking at sold prices, versus listed prices.
February’s median home sales price was $512,500. This is slightly over February 2017’s $508,000. It was also down quite a bit compared to January 2018’s $550,000.
Number of Homes Sold
This last section is a look at completed home sales in Scottsdale.
Between February 2017 and February 2018, there was an 18% increase in home sales.
And comparing January 2018 to February 2018, sales were up 9%.
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.