- December 2021 Scottsdale Housing Market Video -
Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of December.
December 2021 - Video
Scottsdale Active Listings
I have never seen the number of homes for sale in Scottsdale this low. And it seems this figure continues to fall even further every month.
Inventory was down 48% between December 2020 and December 2021. It is shocking to see there were only 393 listings at the end of the year.
If you compare inventory levels between the end of November and the end of December, the number of active listings was down 27%.
Median List Price for Scottsdale Homes
If you are not familiar with the median list price, it is the midpoint of all list prices where one-half of the homes have higher prices and one-half of the homes have lower prices.
The median list price for December was $1.43 million. It comes in higher than November's $1.3 million and is slightly higher than December 2020's $1.39 million.
Days on Market
Days of Market (frequently referred to as DOM) is a measure of the "heat" of a market. When homes are selling quickly, you will see a lower DOM. If homes are staying on the market longer, you will see a higher DOM.
In November, the Days on Market was 44 days. In comparison, the Days on Market for December 2020 was 63 days.
Median Sales Price for Scottsdale Homes
Now we will explore the median sales price of homes sold in Scottsdale in December.
The median sales price in December was $932K. This outperformed November's $880K and was well above December 2020's $797K.
Number of Homes Sold
This last section covers homes sales in Scottsdale in December.
This first image compares homes sales on a year-over-year basis. December 2021's sales came in significantly (22%) lower than December 2020's. However, we are seeing record-low inventory which is constraining sales even though buyer demand is there.
This second image compares sales activity on a month-over-month basis. Sales were up by 1% in December as buyers wanted to close out the year with a new home.
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.
Originally posted on Live Better in Scottsdale
Disclaimer: Data deemed to be accurate, but is not guaranteed.