Scottsdale Real Estate Housing Market Report - May 2021
After decreasing for three straight months, days on market remained the same in May as it was in April, at an all-time low of 36 DOM.
The number of new Scottsdale listings increased by 91 in May, up from 558 to 649, and they are now 28.3% higher than May of last year. The number of active listings decreased slightly this month from 1,319 to 1,285, and are still down -35.8% from May 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 46.8% since May of 2020, which is amazing. With interest rates remaining around 3.0%, 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.
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.