- March 2024 Scottsdale Housing Market Video -
Here is a quick video overview of the Scottsdale, Arizona single-family home real estate market that covers the month of March.
March 2024 - Video
Scottsdale Active Listings
Inventory saw a small dip between the end of March and the end of February. However, there are quite a few more homes for sale than this time last year.
The number of homes for sale was 1,234. This is down 0.5.0% over February and up 14.3% when compared to March of 2023.
Average List Price for Scottsdale Homes
I used to use median listing price data, but I no longer have accurate access to that information. So, I have started to track average listing prices. (Technically, the median price is a better indicator since the average price can skew one way or the other due to extremely low or extremely high list prices, but this will still give you a decent idea of the prices of homes in Scottsdale.)
Scottsdale's average list price was up again in March to $2,586,036. This is up 1.3% over the previous month. When comparing March 2024 to 2023, prices were up 11.4%.
Days on Market
Days on Market is a metric that shows the health of a market. Often referred to as DOM, it uses the number of days it takes a home to sell. When it takes many days for homes to sell, the market is slow. And when homes selling in a fewer number of days, the market is hotter.
Scottsdale's Days on Market in March was 69. This is down 5.8% from February and down 13% when compared to March 2023.
Average Sales Price for Scottsdale Homes
The average sales price continues to climb as home values increase.
In March, Scottsdale's average sales price was just over $1.55 million. This is up 5.4% from the previous month and up 12.7% year-over- year.
Number of Homes Sold
Home sales were up in March, which makes sense since this is Scottsdale's high season.
There were 345 home sales over the month, which was 6.1% higher than last month. However, sales were down 20.9% when compared to March 2023.
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.
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