- February 2016 Scottsdale Housing Market Video -
February 2016 - Video
Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of February.
Active Listings
This section looks at the number of homes that were on the market in February 2016 when compared to February 2016. As you can see, inventory is up 5% year over year.
When compared to January 2016, inventory was up 7%.
Median Listing Price
The median price is a good indicator of market value. It represents the exact middle of home prices with 50% being priced above and 50% being priced less.
In February, the median list price was $825,000, compared to the previous year's $775,000. A large increase in median list price year-over -year is a trend we have been seeing for a while now.
Days on Market
Days on market tracks the average amount of time homes are on the market before they sell.
In February 2016, this metric came in at 100 days, which is a 3% increase over February 2015.
Median Sales Price for Scottsdale Homes
This chart looks at median sales prices, versus the median list prices we saw above.
The median sales price in February was just over $517,000. This is a healthy jump over February 2015's $444,000. We also saw a modest increase when compared to February 2016's $514,500.
Number of Homes Sold
This last part looks at home sales activity on a year-over-year basis as well as month-over-month.
Here we are comparing sales between February 2015 and 2016. Home sales were up 3%.
And when you look at the month-to-month, you see a huge lift of 18%. While it looks quite large, this increase is seasonal in nature with January traditionally being a slow sales month.
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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Originally posted on Live Better in Scottsdale
Disclaimer: Data deemed to be accurate, but is not guaranteed.
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