– December 2017 Scottsdale Homes for Sale and Home Sales –
December capped off 2017 with increased sales and decent pending sales activity.
SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2017
Below is a graphic that shows the past year of sales activity within Scottsdale. Each month, we track four different components related to home sales and they are:
– Single-family homes for sale – This activity is shown on the red line.*
– Under contract, but accepting backup offers (UCB) – These are shown on the green line.*
– Pending home sales – Pending sales are shown on the purple line.*
– Home Sales – Sales are seen on the blue line.
DECEMBER 2017 RESULTS
- Scottsdale Homes for Sale: Inventory was down over 6% between November and December. This is typically what we see at the end of the year, when listing contracts expire on 12/31.
- UCB (Under contract, accepting backup offers): UCB sales fell quite a bit in December. However, this is also a seasonal swing we see as folks are less likely to be home hunting during the holiday season.
- Pending Homes Sales in Scottsdale: Pending sales were also down for the same reasons noted in the UCB section.
- Scottsdale Home Sales: Home sales were up over 3% between November and December. This was a nice uptick to see as we closed out the year.
This next part covers two other items of interest in regards to the Scottsdale housing market.
The first part is a look at how each of the four items we are tracking performed relative to the prior month. So, as you can see, pending sales fell 14.5% between the end of November and the end of December.
The second part takes a look at another metric we use to get a quick feel for the market. It is called sales price to list price and it considers what homes actually sold for compared to what they had been on the market for. In December, homes sold for 95.8% of asking price. Or, looking at it another way, buyers received an average discount off of list price of 4.2% in December.
Overall, December ended the year with some nice sales activity. Inventory, pending homes and UCB homes were down, but this is a seasonal downswing we usually see.
*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 1/1/2018. 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 © 2018 Heather Tawes Nelson | Joyce Tawes