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Quick Video Update of the Scottsdale Real Estate Market – May 2022

By
Real Estate Agent with Live Better in Scottsdale

- May 2022 Scottsdale Housing Market Video -

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of May.

May 2022 - Video


Scottsdale Active Listings

Scottsdale homes for sale May 2022

Even though we are still suffering from low inventory, we have been seeing an uptick in the number of homes for sale, which is great news for buyers.

Inventory was up a healthy 24% between May 2021 and May 2022. And we also saw a month-over-month increase of 30%. All good news.


Median List Price for Scottsdale Homes

Scottsdale homes median list price May 2022

Now we will take a peek at home prices for homes on the market. The median list price tells you the midpoint price of all currently listed homes. Fifty percent will be priced higher and fifty percent will be priced lower.

The median list price for May was $1.35 million. This is lower than May 2021's $1.43 million and down quite a bit from April's $1.55 million.


Days on Market

Scottsdale homes days on market May 2022

Days on market is an indicator of the pace of home sales in a market. You will also see it referenced as DOM. If the DOM is high, homes are staying on the market a little longer. If the DOM is low, homes are selling at a brisker pace.

May's DOM was 29 days. This is very low and has been since the Scottsdale market got hot. And looking year-over-year, days on market was down by 22%.


Median Sales Price for Scottsdale Homes

Scottsdale homes median sales price May 2022

Similar to the median list price, the median sales price is the midpoint of home prices of homes that sold.

May's median sales price in Scottsdale was $1.08 million. This is up from the previous year's $922K, but down slightly from last month's $1.1 million.


Number of Homes Sold

This first image is comparing year-over-year home sales. Sales were down 22% from the previous year. And although low inventory may be playing a part, we are seeing decreased demand from buyers which could account for this drop.

Scottsdale Home Sales May 2022 versus 2021

This second image is looking at it from a month-over-month perspective. Sales were essentially level with May coming in with one fewer sale than April.

Scottsdale home sales April versus May 2022


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.

Disclaimer: Data deemed to be accurate, but is not guaranteed.

 

Originally posted on Live Better in Scottsdale

Posted by

 

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Joyce Tawes is an Associate Broker with Realty ONE Group in Scottsdale, AZ. For more information on Scottsdale real estate and the surrounding areas, as well as the Flagstaff golf communities, please visit
www.ScottsdaleAgent.net.

 

Comments (1)

Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Thank you for sharing the information. Buyers and sellers in your area will benefit from your expertise. Wishing you continued success.  Have a wonderful day and sell a house.  bill

Jun 26, 2022 10:33 AM