Scottsdale AZ Real Estate Housing Market Report - June 2021
After increasing over $56,000 between April and May, and reaching an all-time high of $1,247,173, the average sales price of homes in Scottsdale decreased by $30,623, down to $1,216,550. At the same time, the average sold price per square foot decreased from $380/sf last month to $376/sf for June.
The days on market have decreased, or remained the same for five straight months (every month this year since January), and it decreased again in June to a new all-time low of 35 DOM.
The days on market have decreased, or remained the same for five straight months (every month this year since January), and it decreased again in June to a new all-time low of 35 DOM.
After climbing to a high of 647 in April this year, Scottsdale home sales have decreased for the second straight month, from 630 in May down to 600 in June. Although Scottsdale home sales have recently decreased, they are still 15.4% higher than in June of 2020 (even though the housing market began to open up again starting in June of 2020) after the COVID-19 pandemic shut down the housing industry and the entire economy last March. A decrease in home sales for May is a little early in the high buying season since more homes are typically sold in May than any other time of the year. A decrease in home sales in June is more common as the high buying season begins to wind down for the year.
The number of new Scottsdale listings decreased for the second straight month, down from a high of 739 in April to 639 in June, but they are still 20.3% higher than in June of last year. The number of active listings decreased slightly this month from 1,285, to 1,278, and are still down -31.6% from June of last year.
The lack of listings continues to drive demand and home prices higher, so if the number of active Scottsdale homes for sale continues to be less than in previous years, expect home values to continue to increase.
With that said, median home values in Scottsdale have increased an average of 38.0% since June of 2020, which is amazing. With interest rates dropping below 3.0% again, there will still be more buyers looking to purchase a Scottsdale home in 2021.
The number of new Scottsdale listings decreased for the second straight month, down from a high of 739 in April to 639 in June, but they are still 20.3% higher than in June of last year. The number of active listings decreased slightly this month from 1,285, to 1,278, and are still down -31.6% from June of last year.
The lack of listings continues to drive demand and home prices higher, so if the number of active Scottsdale homes for sale continues to be less than in previous years, expect home values to continue to increase.
With that said, median home values in Scottsdale have increased an average of 38.0% since June of 2020, which is amazing. With interest rates dropping below 3.0% again, there will still be more buyers looking to purchase a Scottsdale home in 2021.
For more detailed stats on the Scottsdale Housing Market, just click on the image below. Then call/text me when you are ready to buy or sell your next home.
When you're ready to buy, sell (or both), or invest in East Valley real estate, reach out to me so we can put your plans into motion. With low mortgage rates leading the way, it's a great time to take advantage of your position in today's market.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
If you're thinking of selling, many buyers will be eager to find a home just like yours due to the low inventory of available homes for sale. Reach out to me today to make sure you can get your house in on the action.
If you're thinking of buying a home, more homes are being listed for sale, and interest rates remain at historically low rates. Being a trusted real estate professional, I can answer your questions and help you determine your next steps.
Feel free to reach out to me if you have any questions about home buying, selling, or investing in the Phoenix Metro or East Valley areas. Just give me a call or text at 602-295-6807 and I will be glad to help.
"Real Estate is not just a job for me, it's about making a difference in the lives of others"
Serving East Valley cities, including Chandler, Gilbert, Tempe, Mesa, Phoenix, Scottsdale, and Ahwatukee
Troy Erickson Realtor | 3175 W. Stephens Place, Chandler, AZ 85226 | 602-295-6807 | [email protected]
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Troy Erickson has been blogging about Arizona real estate since 2006. He is a residential real estate agent who specializes in helping home buyers, sellers, and investors in Chandler and the East Valley. He has been recognized for his local market expertise, and frequently volunteers within his community.
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