Scottsdale AZ Real Estate Housing Market Report - November 2021
After reaching a new all-time high average sales price of $1,270,873 in October, the average sales price of homes in Scottsdale decreased by $155,514 in November reaching a new amount of $1,115,359. Average sales prices increased by $165,934 in October, so this $155,514 decrease for November is not as drastic as it may seem. At the same time, the average sold price per square foot decreased to $388/sf after increasing for three straight months, and reaching a high of $396/sf in October.
The days on market also jumped up to 42 DOM, after decreasing in October down to 36 DOM. The Scottsdale DOM was as high as 76 in January of this year, so even though the DOM increased to 42 it is still extremely low, especially for homes in this price point. The low DOM shows that homes in Scottsdale are still very much in demand, and they are selling very quickly.
The days on market also jumped up to 42 DOM, after decreasing in October down to 36 DOM. The Scottsdale DOM was as high as 76 in January of this year, so even though the DOM increased to 42 it is still extremely low, especially for homes in this price point. The low DOM shows that homes in Scottsdale are still very much in demand, and they are selling very quickly.
After decreasing in October, Scottsdale home sales increased for only the second time in the last seven months, since reaching an all-time high in home sales of 646 this last March and April. Home sales increased from 435 homes sold in October up to 494 in November. November typically sees a decline in home sales as we enter the slower winter season. This is the fifth month in a row that Scottsdale home sales are less than they were in the same month last year, and are now -7.8% less than they were in November of 2020.
The number of new Scottsdale listings decreased for the seventh straight month, down from a high of 739 in April to 458 in November, and they are now lower by -10.5% than in November of last year. After increasing last month, the number of active listings decreased from 982 in October to 912 in November, and are now down -36.0% from November of last year. This is by far the lowest inventory of homes for sale in Scottsdale since this data started being reported (Active listings in January of 2000 were 1,022).
The lack of listings continues to drive demand, even though this month saw a significant decrease in Scottsdale home prices. Home sales increased this last month, and are still occurring faster than ever, while home inventory is on the decline.
Median home values in Scottsdale have increased an average of 22.3% since November of 2020, which is amazing. With interest rates hovering just above 3.0%, there will still be more buyers looking to purchase a Scottsdale home the remainder of this year.
The number of new Scottsdale listings decreased for the seventh straight month, down from a high of 739 in April to 458 in November, and they are now lower by -10.5% than in November of last year. After increasing last month, the number of active listings decreased from 982 in October to 912 in November, and are now down -36.0% from November of last year. This is by far the lowest inventory of homes for sale in Scottsdale since this data started being reported (Active listings in January of 2000 were 1,022).
The lack of listings continues to drive demand, even though this month saw a significant decrease in Scottsdale home prices. Home sales increased this last month, and are still occurring faster than ever, while home inventory is on the decline.
Median home values in Scottsdale have increased an average of 22.3% since November of 2020, which is amazing. With interest rates hovering just above 3.0%, there will still be more buyers looking to purchase a Scottsdale home the remainder of this year.
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]
 |  |  |
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.
RSS Feed
