– August 2022 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of August.
August 2022 – Video
Scottsdale Active Listings
Compared to earlier in the year, Scottsdale now has plenty of inventory. We are back to over 1,100 listings, which is great news for buyers.
Inventory was up 64% between August 2022 and August 2021. However, there was a decline of 9% between the end of July and the end of August 2022.
Median List Price for Scottsdale Homes
The median list price represents the price that is the exact midpoint price of all homes that are on the market. One half of the homes are priced higher and the other half are priced lower.
In August, the median list price was $1.2 million. Interestingly enough, it is the same as August 2021’s median list price. It moved slightly about July 2022’s $1.15 median list price.
Days on Market
This next section looks at the rate at which homes are selling. Days on Market (or DOM) measures the average number of days it took for homes to sell.
In August, we came in at 53 days, which is a 47% increase over last August’s 36 days.
Median Sales Price for Scottsdale Homes
Here we are looking at August’s median sales price for homes.
At the end of the month, the median sales price in Scottsdale was $960K. This is down from the previous month’s $1.06M, but almost $100K above August 2021’s $865K.
Number of Homes Sold
In this last section, we will look at home sales.
This first image compares home sales on a year-over-year basis. Sales were down 33% compared to last year.
What is interesting to note is that even though there was a lot more inventory in August 2022, sales fell due to decreased buyer demand.
This next image looks at sales on a month-over-month basis. Sales were actually up 18% compared to July.
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.