- May 2021 Scottsdale Housing Market Video -
May was another very strong sales month in Scottsdale, even with the severely constrained inventory.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of May.
May 2021 - Video
Scottsdale Active Listings
As you can see, we had very few homes for sale in Scottsdale. Although new homes are coming onto the market frequently, they are getting purchased right away.
We closed out the month with only 549 homes on the market, which is 150% lower than where we were at the same time last year.
Median List Price for Scottsdale Homes
The median list price is the midpoint price of all of the homes for sale. Exactly one half of the homes are priced about the median and the other half are priced below.
The median list price in May was $1.5 million. This is slightly above last month's $1.43 million and quite a bit higher than May 2020's $1.05 million.
Days on Market
Days on Market (also seen as DOM) measures the pace of home sales in a given market or market segment. High DOMs mean things are taking longer to sell and low DOMs mean homes are selling quickly.
In May. Scottsdale's DOM for Scottsdale was 37 days, the same as it was in April. Last year, the DOM was 75 days - change of 51%.
Median Sales Price for Scottsdale Homes
Now we will take a look at median sales prices
The median sale price in Scottsdale in May was $922K. This is a big jump over April 2021's $875K and an even bigger jump over last year's $630K!
Number of Homes Sold
This final section will cover home sales.
An incredible 632 homes sold in May. This is the second highest this number has ever been and is almost double what it was in May 2020 when 319 homes sold.
If we look at sales month-over-month, we will see that they declined by 2%. I truly believe that if there were more homes available to purchase, this number would be higher.
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.
Click to watch other videos on our Live Better in Scottsdale YouTube Channel.
Interested in other stats for our market? Visit our Real Estate Market Update page.
Originally posted on Live Better in Scottsdale
Disclaimer: Data deemed to be accurate, but is not guaranteed.
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