– July 2017 Scottsdale Homes for Sale and Home Sales –
As July wrapped up, we saw the anticipated decrease in sales activity in Scottsdale that should continue for the next several months.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2017
Below is a chart that covers the past twelve months of real estate activity in Scottsdale. We are tracking four different items:
– Single-family homes for sale are shown with the red line.*
– Under contract, but accepting backup offers (UCB) are shown with the green line.*
– Pending home sales are shown with the purple line.*
– Home Sales are shown with the blue line.
JULY 2017 RESULTS
- Scottsdale Homes for Sale: The number of homes on the market dropped by 8% to 1,479. This is the lowest they have been in the past 12 months.
- UCB (Under contract, accepting backup offers): UCB homes were up one to 208. This is lower than what we saw in the high season, but still a solid performance.
- Pending Homes Sales in Scottsdale: Pending home sales fell to 271, about where we saw them last year at this time.
- Scottsdale Home Sales: There were 413 homes sold in July. This comes in just under the 12 month average of 435 sales.
In this next section, we have two more sets of data related to the Scottsdale real estate market.
The Percent Change chart compares month-over-month performance for each of the four sales statuses we are tracking. So, looking at Homes Sold, you can see July came in 22.5% lower than June.
The Sales Price to List Price section is just that – what homes sold for in relation to what the were being listed for. In July, we came it at 96.2%, so on average, buyers received a 3.8% discount off of list price.
July was what we anticipated, a slower sales month. However, it still posted decent numbers. Looking at pendings and UCB’s we should have a similar, but slightly slower month in August.
*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.
Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2017. 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 © 2017 Heather Tawes Nelson | Joyce Tawes