- April 2020 Scottsdale Housing Market Video -
April 2020 - Video
April 2020 was the first full month where COVID-19 was impacting the Scottsdale real estate market. Inventory was level, UCB and pendings were down slightly, but sales fell quite a bit. Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of April.
Scottsdale Active Listings
Although the video says inventory increased by 100%, inventory was actually level between March and April. There were 1,319 homes for sale at the end of the month, up one home over March.
Median List Price for Scottsdale Homes
The median list price is the exact midpoint of all home prices. One-half of the homes are priced higher and one-half are priced lower.
April's median list price was just $989,000. This is up from April 2019's $885,000, but down slightly from March's $1 million.
Days on Market
Days on Market (or DOM) is a measurement that tells you the health of a market. A high number for DOM means the market is moving more slowly and a low number for the DOM means that home are selling more quickly.
April's Days on Market came in at 82 days, a 14% decrease from April 2019's 95 days. That is a positive sign.
Median Sales Price for Scottsdale Homes
Now we will look at the median sale price. Scottsdale's median sales price in April was $710,000.
This is much higher than April 2019's median sale price of $625,000. It is also up slightly over March 2020's median sales price of $705,000.
Number of Homes Sold
This final section is home sales - year-over-year and month-over-month. This is an important section as it shows the effect of COVID-19 on home sales.
Sales were down significantly (36%) between April 2019 and April 2020. This is traditionally our high-season, so the drop in sales is unusual, but not unexpected.
Sales also saw a large decline month-over-month. Sales fell 31% between March and April, when we would normally see an uptick.
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