- December 2022 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 2022 - Video
Scottsdale Active Listings
We saw another year-over-year jump (117%) in listings. However, to put this in perspective, Scottsdale had incredibly low inventory levels last December. Even now, we are still seeing moderately low inventory.
And the number of homes for sale fell 16% between the end of November and the end of December.
Median List Price for Scottsdale Homes
If you are not familiar with it, the median listing price tells you the price where 50% of the market is priced higher and 50% of the market is priced lower.
The median listing price in Scottsdale in December was $1.3 million. This is up slightly from the previous month's $1.25 million. But it did fall in comparison to December 2021 where the median listing price was $1.45 million.
Days on Market
The Days on Market came in at 77 in December, up 71% from December 2021.
Days on Market (DOM) shows you the speed at which homes are selling. If you see a high DOM, that indicates homes are taking longer to sell. Conversely, a low DOM means homes are selling at a faster pace.
Median Sales Price for Scottsdale Homes
Above, we looked at the median listing price. Now, we will look at the median sales price. Again, 50% of homes sold for a higher price and 50% of homes sold for a lower price.
The median sales price in Scottsdale in December was $933K. It came in lower than December 2021's $935K as well as the previous month's $977K.
Number of Homes Sold
This last section looks at home sales on a year-over-year basis and a month-over-month basis.
December home sales came in the lowest we have seen in the past twelve months.
There were only 239 home sales during the month, down 52% from the December prior. December tends to be a quieter month, but this was pretty quiet.
After a slow November, sales pace slowed even more in December. Home sales were down 12% month-over-month.
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.
Subscribe to CommentsComment