– April 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of April.
April 2022 – Video
Scottsdale Active Listings
The low number of homes on the market is the biggest challenge for buyers. The demand is there, but the homes are not.
Inventory fell 15% between April 2021 and April 2022. This is a trend we have been seeing for a while. What is good is that in April, it was not as severe a drop we have seen with other months.
On a very positive note, inventory rose by 14% between the end of March and the end of April.
Median List Price for Scottsdale Homes
The median list price tells you the exact midpoint of home prices. One half will be higher and one half will be lower.
April’s median list price came in at $1.55 million. This is very slightly down from March’s $1.56 million, but a bit ahead of last April’s $1.45 million.
Days on Market
This next image looks at how quickly (or not) homes are selling. It is called Days on Market or DOM. If you see a high number, homes are taking longer to sell. And if you see a lower number, homes
If the DOM is a high number, then it is taking longer for homes to sell. If the DOM is a low number, things are selling more quickly.
The Days on Market for April was 32 days. This is also where it was in March. If you compare it to April 2021, there was a 14% decrease in Days on Market.
Median Sales Price for Scottsdale Homes
Now we will look at the median sales price of homes in Scottsdale in April.
April’s median sales price was $1.1 million, which is where it came in for March as well. However, it is quite a bit higher that April 2021, when the median sales price was only $867K.
Number of Homes Sold
Finally, we will cover home sales activity in April.
Comparing home sales in April 2022 to April 2021, sales fell by 24%. I feel a big factor in this decline is the lack of homes for sale, which is holding the market back.
And if we look at April compared to March, sales were down 6%. Again, I believe inventory played a role here as well.
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.