– Scottsdale Homes for Sale and Home Sales in October 2014 –
The local market slowed again in October, which is not surprising based on the time of year and lower pending figures at the end of September. Conversely, inventory of for sale homes is on the rise, up almost 11% over last month.
SCOTTSDALE HOME SALES ACTIVITY – OCTOBER 2014
The graphic below charts the previous 12 months of sales activity for the following categories:
– Single-family homes for sale are shown in red.*
– Pending home sales are shown in green.*
– Home Sales are shown in purple.
OCTOBER 2014 RESULTS
- Active Scottsdale Homes for Sale: The number of homes for sale was up over 200 homes when compared to last month. This is likely due to homeowners re-listing their homes in anticipation of the upcoming high season.
- Pending Homes Sales in Scottsdale: Pending sales fell about 9% to 231 at the end of October. We have not seen this figure this low since December of 2013.
- October Home Sales in Scottsdale: October saw 336 home sales, down from September’s 354. Again, this was to be expected as there was a lower number of pending sales in the previous month.
The top chart examines the rate of change of the three categories when compared to the prior month. So, if you look at October, you can see active homes were up 10.9% over September, whereas pending sales and sales were down 9.1% and 5.1% respectively.
The lower chart looks at what the average sales price of homes was compared to what they were listed for. So in October, buyers on average saw a 3.9% discount off of asking prices.
As we anticipated, October was a quiet month on the home sales side. And, with pending numbers down again, November may be as equally as quiet.
*Figures for active homes for sale and pending sales are based on the numbers at the end of the month.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2014 and can change at any time. The analysis looks at single-family resale homes for sale and home sales in Scottsdale AZ over the last 12 months. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2014 Heather Tawes Nelson | Joyce Tawes