Quick Video Update of the Scottsdale Real Estate Market – October 2021

By
Real Estate Agent with Live Better in Scottsdale

- October 2021 Scottsdale Housing Market Video -

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of October.

October 2021 - Video

Scottsdale Active Listings

Scottsdale homes for sale Ocotober 2021

Nothing has really changed with respect to the number of homes for sale. We are still in a very low inventory status and minimal relief is in sight.

October ended with 557 homes for sale, compared to the 597 homes for sale at the end of September, a 16% drop. And when you look at year-over-year, inventory is down by 49%.


Median List Price for Scottsdale Homes

Scottsdale homes median list price October 2021

If you are not familiar with the median list price, it simply means that of the homes for sale, one half are priced higher and the other half are priced lower. It is a midpoint.

The median list price of homes in October was $1.3 million. This is up over September's $1.1 million as well as October 2020s $1.15 million.


Days on Market

Scottsdale homes days on market October 2021

Days on Market (also referred to as DOM) is a quick and easy metric to see how quickly homes are selling in a given market or segment of the market. As you would expect, a low DOM indicates homes are selling at a more brisk pace and conversely a high DOM indicates it is taking longer for things to sell.

The DOM was 41 days in September and it dropped to 37 days in October. If we compare this to October of last year, Days on Market has dropped by 42%. This is good for sellers, but it makes things more challenging for buyers who are facing a lot of competition.


Median Sales Price for Scottsdale Homes

Scottsdale homes median sales price October 2021

Now we will take a look at the median sales price of homes versus the median list price.

October's median sales price was $900K. This is an improvement from September's $850K and also much higher than October 2020's $741K.


Number of Homes Sold

This last section covers home sales in Scottsdale. The top image is a year-over-year comparison and the lower image is a month-over-month comparison.

Scottsdale Home Sales October 2020 versus 2021

The number of homes that were sold was down 28% compared to October 2020. I would attribute some of this decrease to the much lower inventory and price appreciation.

Scottsdale home sales September and October 2021

Month-over-month home sales saw a 10% decrease .


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

Posted by

 

==============================================
Joyce Tawes is an Associate Broker with Realty ONE Group in Scottsdale, AZ. For more information on Scottsdale real estate and the surrounding areas, as well as the Flagstaff golf communities, please visit
www.ScottsdaleAgent.net.

 

Comments (0)