- July 2021 Scottsdale Housing Market Video -
July had strong home sales, but we did see a little slowdown in the frenzy of activity.
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of July.
July 2021 - Video
Scottsdale Active Listings
Inventory is still low across Scottsdale and the Valley. However, it has been climbing slowly over the past few months.
There were 609 homes for sale at the end of the month, coming in 45% lower than June 2020.
Median List Price for Scottsdale Homes
If you are not familiar with the median list price, it represents the midpoint list price of all of the homes for sale. Therefore, one half of the homes are priced higher and one half are priced lower.
The median list price in July was $1.2 million. This is down slightly from June's $1.25 million, but is higher than July 2020's $1.11 million.
Days on Market
Days on Market (DOM) is a metric that gives you an indication of how quickly homes are selling. If you see a large number, that means it is taking longer for homes to sell. A small number indicates that homes are selling quickly.
The DOM for Scottsdale in July was 35 days, which is where it was in June. This is down 58% from July 2020 where it was 83.
Median Sales Price for Scottsdale Homes
Similar to the median list price, the median sales is the midpoint price of the homes that sold.
Scottsdale's median sales price was $850K. This is a drop from June 2021's $877K. However, it is up quite sharply from July 2020's $695K.
Number of Homes Sold
Finally, we will cover home sales.
There were 519 home sales in July. If we look at this on a year-over-year basis, sales were down 10% from July 2020. Low inventory could have a play in this lower sales figure.
Comparing July 2021 to June 2021, sales were down 14%. As I mentioned last month, I think this decrease may be a combination of Iow inventory and higher prices combined with a little seasonality.
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.