Scottsdale AZ Real Estate Housing Market Report - September 2021
After remaining the same or decreasing for the first seven months this year, the days on market has now increased for the second straight month, up from 35 DOM in August to 40 DOM in September. Even though the days on market has been increasing, homes in Scottsdale are still selling very quickly.
The number of new Scottsdale listings decreased for the fifth straight month, down from a high of 739 in April to 545 in September, and are now lower by -27.1% than in September of last year. After increasing for the last three months, the number of active listings decreased from 1,001 in August to 959 in September, and are down -36.7% from September of last year.
The lack of listings continues to drive demand, but there has been a decline in Scottsdale home prices over the last several of months. Home sales are still occurring faster than ever, and inventory is down, but there has also been a decline in the number of homes being sold in Scottsdale, and that may be playing into the decline in sales prices.
With that said, median home values in Scottsdale have still increased an average of 17.1% since September of 2020, which is amazing. With interest rates hovering below or near 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.
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.