– July 2020 Scottsdale Housing Market Video –
July was another powerhouse month for home sales in Scottsdale due to pent up demand and record low interest rates.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of July.
July 2020 – Video
Scottsdale Active Listings
The inventory of homes for sale dropped under 1,000, which is unheard of. This is a 59% decrease from where we were at the end of July last year.
This small number of homes available will hold sales activity back. This especially applies to lower-priced homes. There is so much demand for them, most have several offers on the first day.
Median List Price for Scottsdale Homes
The median list price represents the midpoint of all home prices, so one half of the homes are priced higher and the other half is priced lower.
July’s median list price was $1.25 million. This is way up from July 2019’s $875K and is up a little bit over June 2020’s $1.12M.
Days on Market
Days on Market is a quick way to gauge the health of a real estate market. High Days on Market (DOM) means things are taking longer to sell. Conversely, a low DOM means things are selling at a faster pace.
July’s DOM was 83 days. This is a 12% decrease from July 2019’s 94 days, showing you the current demand in the market.
Median Sales Price for Scottsdale Homes
We looked at the median list price above and now we will look at the median sales price.
Scottsdale’s median sales price for July was $695,000.
This was up over July 2019’s $601K and June 2020’s $635K.
Number of Homes Sold
This final section looks at the number of homes sold compared to last year as well as last month.
This top image is looking at year-over-year sales. Sales were up an impressive 22% in July compared to last July.
And looking at month-over-month, sales were up by 11%. This was a great month.
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.
Click to watch other videos on our Live Better in Scottsdale YouTube Channel.
Interested in other stats for our market? Visit our Real Estate Market Update page.
Disclaimer: Data deemed to be accurate, but is not guaranteed.