- May 2018 Scottsdale Housing Market Video -
May 2018 - Video
Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of May.
Scottsdale Active Listings
This first image is a look at the number of homes on the market in May 2017 compared to May 2018.
Home inventory was down almost 20% year over year.
This is the same comparison, but we are now looking at it from a month-over-month perspective.
The number of homes for sale at the end of May was down 13% compared to the end of April.
Median List Price for Scottsdale Homes
The median list price is the mid-point of all home prices. Excactly half of the homes were priced higher and half were priced lower.
May's median list price was $925,000. This is up almost $100K from May 2017's $835,000 median list price.
Days on Market
Days on Market (or DOM) measures how long homes are on the market before selling. If you see a very low DOM, homes are selling quickly. Conversely, if the DOM is high, the market is not moving as fast.
The DOM for May 2018 was 94 days. This is down slightly from May 2017's 98 days.
Median Sales Price for Scottsdale Homes
This is another look at median prices, but this time it is for sold homes. So half of the homes sold for a higher price and half sold for a lower price.
May's median price was just over $572K. This is above May 2017's $528,000, but is slightly lower than April 2018's $575,300.
Number of Homes Sold
These last two images look at Scottsdale home sales in May.
This first one is year over year and sales were up 7% between May 2017 and May 2018.
This second image compares April 2018 to May 2018. Sales were up a healthy 13%, making it an excellent month for Scottsdale homes sales.
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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Disclaimer: Data deemed to be accurate, but is not guaranteed.