– April 2023 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 2023 – Video
Scottsdale Active Listings
The month of April closed out with 1,061 homes for sale. This is up 72% over April 2022, but at that time, Scottsdale was severely lacking in homes for sale.
Inventory at the end of April was down 9% compared to the end of March. We have been seeing the number of homes for sale trend down over the last couple of months.
Median List Price for Scottsdale Homes
If you are not familiar with the median listing price, it is it the midpoint price of all of the homes on the market. 50% of the homes are priced higher and 50% of the homes are priced lower.
In April, Scottsdale’s median listing price for Scottsdale was $1.45 million. This is higher than last month’s $1.4 million, but lower than April 2022’s $1.5 million.
Days on Market
This next image gives you a quick look into the health of a given market. Days on Market, also called DOM, calculates the number of days it takes homes to sell on average.
If you see a high DOM, homes are taking longer to sell. A lower DOM means homes are selling at a brisker pace.
Scottsdale’s DOM in April was 72 days. While it comes in 118% higher than last April, April 2022 was a very strong market.
Median Sales Price for Scottsdale Homes
Now we will look at Scottsdale’s median sales price for April.
While it was a little less than the previous year’s $1.1M, it did come in a tiny bit higher than March 2023’s figure.
Number of Homes Sold
This next section covers actual home sales activity. The top image is a year-over-year comparison and the bottom image is a month-over-month comparison.
Home sales fell 34% when you compare April 2023 to April 2022. We had hoped to see less of a decrease than we did.
Sales in April fell off quite a bit from March’s sales. This was due to fewer pending contracts at the end of March.
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.
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