– July 2018 Scottsdale Homes for Sale and Home Sales –
Here are the numbers for the Scottsdale real estate market for July. As anticipated, things are tapering off due to the low season. However, we are still seeing strong demand.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2018
We are tracking four different items on a monthly basis:
– Single-family homes for sale – The number of homes on the market at the end of the month is depicted by the orange line.*
– Under contract, but accepting backup offers (UCB) – The number of homes in UCB status at the end of the month is depicted by the grey line.*
– Pending home sales –The number of homes in pending status at the end of the month is depicted by the yellow line.*
– Home Sales – The number of homes that sold that month.
JULY 2018 RESULTS
- Scottsdale Homes for Sale: Inventory dropped again as sellers took their homes off of the market and sales were solid. July closed with less than 1,500 homes for sale, the lowest it has been in the past year.
- UCB (Under contract, accepting backup offers): The number of homes in UCB status fell almost 16% between June and July.
- Pending Homes Sales in Scottsdale: Whereas UCB homes were down in July, pending homes were actually up slightly over June, closing out the month at 286.
- Scottsdale Home Sales: Home sales fell back under the 500 mark in July to 464. This is still the fifth-best sales month in the past year.
This next section contains two more things we track on a monthly basis.
The first section is how things are changing on a month-over-month basis. So if you look at the sold data, you can see that sales were down 15.9% in July compared with June.
The second section is a quick look to see how home prices and actual sales prices are faring. Called sales price to list price, it tracks how much homes are selling for relative to their asking prices. In July, homes on average sold for 96.2% of list price. Looking at it another way, buyers on average purchased homes at a 3.8% discount.
July was a transition month for Scottsdale home sales. Inventory and sales activity tapered off and will likely to continue to do so for the next few months.
*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 8/1/2018. 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