- August 2015 Scottsdale Housing Market Video -
August 2015 - Video
Here is quick overview of the Scottsdale, Arizona real estate market for the month of August.
Active Listings
The inventory of homes for sale continued its decline in August. Compared to the same time last year, the number of active listings is down 14%. And, when compared to the end of July 2015, there are 7% fewer homes for sale. This decrease in inventory is seasonal and not surprising.
Median Listing Price
August's median list price for homes for sale in Scottsdale came in at just over $750,000. In August 2014, that figure was just under $640,000. August 2015's median list price is a big jump from this time last year.
Days on Market
Days on market, or DOM, is an indicator of how quickly home are selling or not selling. It calculates the number of days from when the home went onto the market until it closed. As you would expect, a small days on market figure indicates an active market and a higher figure means that the market is a bit slower. August 2015 came in with an average of 105 days on market. This represents an increase of 11% over August 2014's 95 days on market.
Median Sales Price for Scottsdale Homes
In August, the median sales price of homes in Scottsdale was $462,500. Compared to the same time period last year, this is an increase of around $11K. However, when compared to July 2015's figure, the median sales price fell by about $37K.
Number of Homes Sold
This last section covers home sales in the month of August. Sales in August 2015 were 4% higher than August 2014.
However, as you can see, the number of home sales dropped over 20% compared to July 2015. As noted in last's months report, home sales in July were particularly strong. That strong sales activity combined with the seasonal slowdown explains the large dropoff.
The Scottsdale real estate market had a decent month in August. Although sales activity was quite a bit lower than July, the sales posted were still solid. 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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