- January 2016 Scottsdale Housing Market Video -
January 2016 - Video
Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of January.
Active Listings
This first chart looks at the inventory of homes for sale in Scottsdale compared to January 2015 as well as November 2015. The inventory of homes for sale at the end of January 2016 was up 3% over January 2015. But when you look at December 2015 to January 2016, inventory was up 11%. This is a seasonal bump that we see at the beginning of each year.
Median Listing Price
Median price identifies the exact 'middle' of prices of homes for sale.Ot, in other words, 50% of the homes are priced higher and 50% are priced lower than the median. In January, the median list price was just under $850,000. This is quite a bit higher than last January's median list price of just under $760,000. This increase in median price between the current and prior year is something we saw for most of 2015 as well.
Days on Market
Days on market is an indication of how long it is taking for homes to sell on average. Therefore it tracks how many days it took for homes to close. In January 2016, this metric was down to 108 days, a 10% decrease from January 2015's 120 days.
Median Sales Price for Scottsdale Homes
Here is another median price, but this time it is the median sales price. January 2016's median sale price jumped to over $512,000. This is up over $32,000 from January 2015 and December 2015.
Number of Homes Sold
The final section of this report looks at Scottsdale home sales. When compared to January 2015, sales were down 7%, coming in at 272 in comparison to 2015's 294.
If we take the same information, but look at it on a month-over-month basis, sales were down by 23%. However, this drop is not too concerning. We see a seasonal drop in sales in January as fewer home buyers look for and purchase homes during the holiday season.
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.
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Disclaimer: Data deemed to be accurate, but is not guaranteed.
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