– October 2023 Scottsdale Housing Market Video –
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of October.
October 2023 – Video
Scottsdale Active Listings
October ended with 1,106 homes on the market. This is a 15% increase in inventory when compared to the end of September. Inventory has been increasing slowly each month after hitting a low in June.
And we look at October 2023 in comparison to October 2022, inventory was down by 8.8%.
Average List Price for Scottsdale Homes
I used to use median list price data, but I no longer have access to that. Instead, I will use average list price. Technically, the median price is a better indicator since the average price can skew one way or the other due to extremely cheap or extremely high list prices, but this will still give you a decent idea of the prices of homes in Scottsdale.
October’s average list price of homes in Scottsdale was more than $2.25 million. This represents an increase of 4.2% month-over-month. It is also 10.9% higher than October 2022’s average list price.
Days on Market
The Days on Market (also shown as DOM) is an indicator of how long it is taking homes to sell in a given market. If you see a high DOM, that indicates that homes are sitting on the market for longer periods. Low DOMs mean homes are selling at a brisker pace.
The Days on Market for Scottsdale in October was 61 days. This is level with what we saw in the previous month and up a single day when compared to last October.
Average Sales Price for Scottsdale Homes
Now we will take a look at what homes sold for in October.
The sales price in October was over $1.5 million. This is up 11.9% month-over-month. And if you look at it from a year-over-year standpoint, the average sales price was up 13.3%.
Number of Homes Sold
And finally, we get to homes sold in Scottsdale in October.
Home sales in October were down 2.6% when compared to the previous month. And if we look at October 2022 and 2023, home sales activity was down 4.1%.
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.