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Scottsdale AZ Real Estate Housing Market Report - May 2021

By
Real Estate Agent with HomeSmart License # SA577557000
Here is the most recent Scottsdale AZ Real Estate Housing Market Report for May 2021:
 
The average sales price of homes in Scottsdale increased over $56,000 between April and May, and is now at an all-time high of $1,247,173. At the same time, the average sold price per square foot increased from $362/sf to $380/sf in May.
 
After decreasing for three straight months, days on market remained the same in May as it was in April, at an all-time low of 36 DOM.
 
 
Scottsdale home sales slightly decreased in May from 647 to 631, the first decrease this year. Even though they decreased, Scottsdale home sales are still 97.8% higher than May of 2020. This is mainly due to the COVID-19 pandemic shutting down the economy last March, and continuing throughout last year. A decrease in home sales for May is unusual since we are in the high buying season, and more homes are typically sold in May than any other time of the year.
 
The number of new Scottsdale listings increased by 91 in May, up from 558 to 649, and they are now 28.3% higher than May of last year. The number of active listings decreased slightly this month from 1,319 to 1,285, and are still down -35.8% from May of last year.
 
The lack of listings continues to drive demand and home prices higher, so if the number of active Scottsdale homes for sale continues to be less than in previous years, expect home values to continue to increase.
 
With that said, median home values in Scottsdale have increased an average of 46.8% since May of 2020, which is amazing. With interest rates remaining around 3.0%, there will still be more buyers looking to purchase a Scottsdale home in 2021.
 
Click on the following link to see all current Scottsdale Arizona Homes For Sale.
 
For more detailed stats on the Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.

 

When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me se we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.

If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.
"Real Estate is not just a job for me,
it's about making a difference in the lives of others"
 
Posted by

         Contact Troy Erickson, Realtor®, Good Company Real Estate

Licensed Residential Realtor® in Arizona at 602-295-6807

 

Reach out to me for all your Phoenix, Chandler, Ahwatukee, Tempe, Gilbert, and Scottsdale, Arizona Real Estate needs.

 

Check out our website for all Arizona Real Estate and Homes For Sale in subdivisions like Sun Lakes, Ocotillo, Lakewood, Mountain Park Ranch, Pepperwood, Circle G Ranches, and many others throughout the East Valley.

 

"Real Estate is more than just about a job for me. It is about making a difference in the lives of others. I help people just like you Buy, Sell, and Invest in East Valley Arizona Real Estate!"

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This post is for informational purposes only and should not be construed as legal advice. If you desire specific legal or tax advice, please consult the appropriate professional. The opinions expressed here represent my own and not those of my employer. Troy Erickson will not be held liable for any errors, ommissions, accuracy, validity, currentness, suitability, completeness; or any losses, injuries or damages arising from its display or use.

Comments (2)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Scottsdale home buyers and sellers are sure to value your real estate market report, Troy.

Jun 19, 2021 02:57 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Thank you Myrl Jeffcoat. Scottsdale home prices continue to climb.

Jun 19, 2021 10:14 AM