– March 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of March.
March 2022 – Video
Scottsdale Active Listings
Once again, inventory continues to be our market’s extreme pain point. Pent-up demand and buyers wanting to lock in low rates before they go up have very few homes to choose from.
There was a 30% decrease in the number of homes available between March 2022 and 2021. And March 2021’s inventory was already very low.
There was a 5% decrease in homes for sale between the end of March and the end of February.
Median List Price for Scottsdale Homes
As far as home prices of homes for sale, the median listing price shows you the exact midpoint of Scottsdale’s asking prices.
In March, the median list price came in at $1.68 million, which is up slightly compared to last month and up pretty substantially compared to March 2021.
Days on Market
Days on Market, (also known as DOM), is a quick metric to give you a sense of a particular market, whether it is by location, price point and so on.
If the DOM is a higher number, then it is taking longer for homes to sell. If the DOM is a lower number, things are selling more quickly.
March’s Days on Market was a mere 32 days. It was not uncommon a few years ago for this figure to be a lot closer to 100. And, it came in 41% lower than last March.
Median Sales Price for Scottsdale Homes
We explored the median listing price above and now we will look at the median sales price for Scottsdale homes in March.
March’s median sales price was $1.1 million. This was $100K higher than February’s median sales price and much higher than March 2021’s median sales price of $875K.
Number of Homes Sold
This last section will examine home sales in Scottsdale.
If we look at year-over-year sales activity, sales were down 19%. One factor holding this number back is the inventory issue I mentioned at the beginning of the post.
Looking at month-over-month sales activity, there was a 21% increase over February’s sales number. This is impressive and many homes are selling as soon as they hit the market.
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.