– March 2018 Scottsdale Homes for Sale and Home Sales –
Here is an overview of the Scottsdale real estate market during the month of March 2018.
SCOTTSDALE HOME SALES ACTIVITY – MARCH 2018
The graphic below shows the past 12 months of sales activity for single-family homes in Scottsdale. We are tracking four sales metrics:
– Single-family homes for sale – The number of homes on the market is shown with the orange line.*
– Under contract, but accepting backup offers (UCB) – UCBs are shown with the grey line.*
– Pending home sales – Pending home sales are shown on the yellow line.*
– Home Sales – The number of home that sols are shown with the blue line.
MARCH 2018 RESULTS
- Scottsdale Homes for Sale: We saw a mild, 3.3% increase in for sale inventory between February and March/
- UCB (Under contract, accepting backup offers): UCBs were up slightly to 337 by the end of the month.
- Pending Homes Sales in Scottsdale: Pending sales were also up slightly and closed out the month at 356.
- Scottsdale Home Sales: Sales shot up by over 23% between February and March. This is the first time sales have been back in the 500 range since last June.
The following section covers two more sets of statistics for the Scottsdale real estate market.
The top part looks at how each of the four things we are tracking performed relative to the prior month. For instance, the number of homes in UCB status was up 2.7% in March over February.
The lower part is a great way to get a quick feel for the market and pricing. It is called the Sales Price to List Price ration and compares average sales prices and what the homes had been on the market for. In March, it was 95.5%, so homes sold at an average of 95.5% of list price. Looking at this from the buyers’ perspective, buyers saw an average 4.5% discount off of list price in March.
March’s sales were excellent and because of the time of year, I anticipate another great month in April.
*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 4/1/2018. 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