- July 2018 Scottsdale Housing Market Video -
July 2018 - Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of July.
Scottsdale Active Listings
We will begin with the inventory of homes for sale in Scottsdale during July.
This first image compares homes for sale at the end of July 2018 versus July 2017.
The number of homes for sale was down over 20% between the two years.
Here is a look at inventory comparing end of June and end of July 2018.
There was a 12% decrease in inventory between the two months, with July ending with about 1,500 homes for sale.
Median List Price for Scottsdale Homes
The median list price is the exact midpoint of prices of homes for sale. Exactly half of the homes will be priced above the median and the other half will be priced below the median.
In Scottsdale, the median list price for homes in July was just under $890K.
Days on Market
Days on Market (also shown as DOM) is an indicator of how a market is performing.
A high DOM means it is taking longer for things to sell - perhaps the market is slow, or you have a segment of the market without a large number of buyers, like the high-end market.
Scottsdale's July DOM was 93. This is 15% lower than the same time last year.
Median Sales Price for Scottsdale Homes
Now we will take a look at the median sale price of homes in Scottsdale in July.
The median sale price was $560K. This is higher than July 2017's $529K, but quite a bit below June's $606K.
Number of Homes Sold
The final section of this report is home sales.
This first one is Scottsdale homes sales in July 2018 compared to July 2017. Sales were up an impressive 14%.
This next one is June versus July 2018. Sales were down 15%.
This drop in sales is not surprising as we had a fantastic sales month in June and July tends to be slower due to seasonality.
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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