Scottsdale Real Estate Housing Market Report - May 2021
The average sales price of homes in Scottsdale increased over $56,000 between April and May, and is now at an all-time high of $1,247,173. At the same time, the average sold price per square foot increased from $362/sf to $380/sf in May.
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.
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.
Scottsdale home sales slightly decreased in May from 647 to 631, the first decrease this year. Even though they decreased, Scottsdale home sales are still 97.8% higher than May of 2020. This is mainly due to the COVID-19 pandemic shutting down the economy last March, and continuing throughout last year. A decrease in home sales for May is unusual since we are in the high buying season, and more homes are typically sold in May than any other time of the year.
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.
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.
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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