- August 2016 Scottsdale Housing Market Video -
August 2016 - Video
Here is a one minute video overview of the Scottsdale, Arizona real estate market for the month of August.
Active Listings
This first image shows Scottsdale's housing inventory at the end of August. As you can see, it was down 8% when compared to the end of July. This is in line with seasonal patterns. When you compare August 2016 to August 2015 (the first column), inventory was down 1%.
Median Listing Price
This second image shows the median list price for homes in Scottsdale. If you are not familiar with it, the median is the exact middle point. So half of the homes are priced higher and half of them are priced lower. In August, the median list price came in just under $790K. This is quite a bit higher than August 2015's $715K.
Days on Market
Days on Market (DOM) is a measure to see how quickly homes are selling in a given market. Low days on market indicate a fast-selling market, (demand high), and high days on market, (demand low), means homes are sitting longer before selling. Days on Market came in at 112 for August 2016. This is up 7% from August 2015's 105 days.
Median Sales Price for Scottsdale Homes
Here are median sales prices for Scottsdale homes. Similar to median listing prices, half of homes sold for a higher amount and half of homes sold for a lower amount.
August 2016's median sales price was a little over $460K. This is coming in lower than August 2015's $465K and July 2016's $510K.
Number of Homes Sold
These final two images look at the home sales that took place in Scottsdale.
The top one is comparing 2015 to 2016 and the lower one is comparing July and August 2016. Sales in August 2016 were up 17% over August 2015. This is a big jump, especially in a quieter time of year.
And month over month, we saw an 18% increase, another excellent performance.
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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