– June 2018 Scottsdale Homes for Sale and Home Sales –
Here is a quick look at the Scottsdale real estate market during the month of June 2018. While there was not as much activity as May, June still turned in a solid performance.
SCOTTSDALE HOME SALES ACTIVITY – JUNE 2018
This report takes a look at four different items related to Scottsdale home sales:
– Single-family homes for sale – How many homes were for sale at the end of the month is shown with the orange line.*
– Under contract, but accepting backup offers (UCB) – How many homes were in UCB status at the end of the month is shown with the grey line.*
– Pending home sales – How many home sales that were pending the end of the month is shown on the yellow line.*
– Home Sales – How many homes sold is shown on the blue line.
JUNE 2018 RESULTS
- Scottsdale Homes for Sale: Inventory fell a little over 8% from the previous month. This was due to strong sales and homes coming off of the market during the warm summer months.
- UCB (Under contract, accepting backup offers): UCB homes saw a pretty large decline after several strong months during the high season.
- Pending Homes Sales in Scottsdale: Pending sales also fell for the same reason. They closed out the month at 283.
- Scottsdale Home Sales: We saw another month of strong home sales in June. There were 552 home sales, making June the second highest sales month in the past year.
The following chart covers two more items we track on a monthly basis for Scottsdale home sales.
The top section shows how each item is performing relative to the previous month’s activity. For instance, pending sales were down 14.5% when compared to May’s pending sales.
The bottom section is a metric called Sales Price to List Price. It measures what homes sold for compared to the prices they were on the market for. In June, it came in at 96.1%, so on average, home buyers saw a 3.9% discount off of asking prices.
June was a strong month for the Scottsdale housing market. However, we are seeing signs of the summer slowdown as UCB and pending sales both fell.
*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 7/1/2018. 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