– August 2017 Scottsdale Homes for Sale and Home Sales –
August closed out with higher sales than we anticipated, although pending and under contract volume had decreased by the end of the month.
SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2017
The image below represents the past year of sales activity in Scottsdale. There are four categories being tracked.
– Single-family homes for sale are depicted by the red line.*
– Under contract, but accepting backup offers (UCB) are depicted by the green line.*
– Pending home sales are depicted by the purple line.*
– Home Sales are depicted by the blue line.
AUGUST 2017 RESULTS
- Scottsdale Homes for Sale: The number of homes on the market was more or less level between July and August.
- UCB (Under contract, accepting backup offers): These number of homes in UCB status fell to 242. This is the lowest we have seen this figure in the past eight months.
- Pending Homes Sales in Scottsdale: Pending home sales also fell, but by a smaller amount. There were 256 pending sales at the end of the month.
- Scottsdale Home Sales: 436 homes sold in August. This is up by 23 when compared to July. Typically, we see sales taper off during the slower months, so this was a welcome increase.
The next section examines two more pieces of the Scottsdale real estate market.
The top chart is something called Percent Change – Month over Month. Here we look at each of the data points compared to the month prior. For instance, we saw a 5.6% increase in home sales between July and August.
The second chart is called Sales Price to List Price. Here, we examine the sales prices of the homes compared to what they had been listed for. In August, we came it at 96.2%, the same as July. Looking at this another way, buyers received a 3.8% discount off of list price.
August was a good month for sales, coming in ahead of July. However, UCB and pendings fell, so September should come in lower from a sales perspective.
*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 9/1/2017. 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