– February 2018 Scottsdale Homes for Sale and Home Sales –
Here is a recap of the Scottsdale real estate market for the month of February.
SCOTTSDALE HOME SALES ACTIVITY – FEBRUARY 2018
The chart below shows the past year of real estate activity in Scottsdale. For this report, we track four different items on a monthly basis:
– Single-family homes for sale – The homes for sale are shown on the red line.*
– Under contract, but accepting backup offers (UCB) – UCBs are shown on the green line.*
– Pending home sales – Pending sales are shown on the purple line.*
– Home Sales – Sales are shown on the blue line.
FEBRUARY 2018 RESULTS
- Scottsdale Homes for Sale: Inventory really did not change between January and February. It stayed just over 2,000 homes for sale.
- UCB (Under contract, accepting backup offers): UCB listings saw another nice increase. They were up over 10% compared to the end of January.
- Pending Homes Sales in Scottsdale: Pending sales saw an over 20% increase over January. The 353 pendings put this month on track with the activity seen this time last year.
- Scottsdale Home Sales: Homes sales saw a nice uptick. February closed out with 416 home sales.
This next section contains two more metrics associated with the Scottsdale real estate market.
The first section looks at how each of the categories we are tracking performed compared to the previous month. So if you look at pending sales, you can see the figure was up 20.5% at the end of February compared with the end of January.
The second section is a metric we use called “Sales Price to List Price.” It is a quick and easy way to see what homes sold for in comparison to what they were listed for. In February, this figure was 96.6%, meaning homes on average sold at a 3.4% discount off of asking price.
February continued a nice uptick in sales activity as we move into the peak of the high season. The increased UCB and pending sales bode well for strong March numbers.
*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 3/1/2018. 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