– October 2020 Scottsdale Housing Market Video –
And October continued to defy seasonal sales patterns as well! Sales were up again in a time period when we typically see things slow down.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of October.
October 2020 – Video
Scottsdale Active Listings
We saw another decrease in inventory at the end of the month. The number of homes for sale at the end of October was down 14% from the end of September.
Even more shocking, Scottsdale’s home for sale inventory is down 63% compared to the same time last year.
Median List Price for Scottsdale Homes
A median list price is the exact midpoint of the list prices of homes for sale. That means exactly one half of the homes have higher list prices and the other half has lower list prices.
The median list price in October remained at $1.2 million. This is up quite a bit over October 2019’s $989K and slightly up from September 2019’s $1.19M.
Days on Market
Days on Market is a quick metric to gauge the performance of a market. A high days on market number indicates homes are selling at a slower pace. A low days on market means homes are selling faster.
October’s Days on Market was 64, which is incredibly low. This is down 28% from the same time last year.
Median Sales Price for Scottsdale Homes
Similar to the median list price above, the median sold price is the exact midpoint for home sales.
The median sales price in October was $738K. This is up from both October 2019’s $593K and September 2020’s $738K.
Number of Homes Sold
This final set of images looks at home sales.
There was a 41% increase in home sales in year-over-year. This jump is very atypical for this time of year. We went from 428 last year to 603 this year.
Month-over-month, we saw an 11% increase in sales, which is really unheard of at this time of year. Sales jumped from 543 in September to 603 in October.
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.