– January 2021 Scottsdale Housing Market Video –
After a record-breaking December sales month, January also turned in a strong performance, even though inventory is the lowest it has been.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of January.
January 2021 – Video
Scottsdale Active Listings
Inventory is almost non-existent right now in Scottsdale. In fact, the number of homes for sale was 149% lower this January than in January 2020.
And it was even down further than the previous month. There were 29% fewer homes for sale in January than there were in December 2020.
Median List Price for Scottsdale Homes
The median list price gives you an idea of the home prices in a given market. It is the midpoint of all of the prices of homes for sale. This means that exactly one-half of the homes will be priced higher and the other half will be priced lower.
January’s median list price was $1.6 million. This is up over December’s $1.4M and almost $500K higher than the median list price in January of 2020.
Days on Market
DOM or Days on Market is a back-of-the-envelope calculation that gives you a sense of the market. If the DOM is low, homes are selling at a faster pace. Conversely, if it is high, sales are slower.
January’s Days on Market was 77 and it came in 5% lower than last January. This is very low for Scottsdale, but the low inventory and high demand are helping this figure decrease.
Median Sales Price for Scottsdale Homes
Now we will take a look at January’s median sales price. Exactly one-half of the homes sold for more and one-half for less.
January’s median sales price was $758K. This is up from January 2020’s $655K, but down from December’s $797K.
Number of Homes Sold
This last section covers homes that sold in January.
This first image shows year-over-year perfromance. Sales in January 2021 were up 56%, which is impressive as there are so few homes for sale.
This next image looks at month-over-month performance. Sales were down 22% when compared with December. This is not surprising as January is typically slower for sales and the tight inventory.
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.