- December 2020 Scottsdale Housing Market Video -
December closed out 2020 with the highest sales month of the year. This is impressive since we have the lowest inventory levels I have seen.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of December.
December 2020 - Video
Scottsdale Active Listings
Inventory was down 39% between the end of November and the end of December. As I said last month, I have never seen inventory this low and yet it closed out the year even lower!
On a year-over-year basis, the number of homes for sale is down by 122%!
Median List Price for Scottsdale Homes
The median list price is the midpoint of all of the active home prices. This means one half of the homes will have higher prices and the other half will have lower prices.
In December, the median list price came in at $1.56 million. This jumped up a lot over November's $1.26 million and is much higher than December 2019's $1.12 million.
Days on Market
Days on Market (also shown as DOM) is a quick way to test the health of the market. If there is a low DOM, homes are selling quickly. A high DOM indicates the market is slower.
The Days on Market in December was 63. This is very low for Scottsdale, but the low inventory and high demand are helping this figure decrease. December's DOM was 26% lower than the same time last year.
Median Sales Price for Scottsdale Homes
We looked a the median list price of homes in Scottdale earlier and now we will look at the median sales price.
December's median sales price was $797K. This is an increase from the $720K we saw in November and it was up $177K from one year earlier.
Number of Homes Sold
Last but not least is home sales. We have two different graphics. One shows sales year-over-year and the other is month-over-month.
December turned in the highest sales month of 2020 with 640 sales. This is up 39% over last December and December 2019 was a strong sales month for 2019.
Sales saw a 19% jump between November and December.
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.