– October 2018 Scottsdale Homes for Sale and Home Sales –
October, while still a little subdued due to the time of the year, saw sales activity pick up a little during the month compared to September.
SCOTTSDALE HOME SALES ACTIVITY – OCTOBER 2018
Each month, we look at the following sets of sales statuses:
– Single-family homes for sale – The orange line represents the number of homes on the market at the end of the month.*
– Under contract, but accepting backup offers (UCB) – The grey line is tracking how many homes were in UCB status at the end of the month.*
– Pending home sales – The yellow line represents the number of pending sales at the end of the month.*
– Home Sales – The blue line shows actual homes sales for that month.
OCTOBER 2018 RESULTS
- Scottsdale Homes for Sale: The number of homes for sale jumped back up to levels we last saw in May. It seems many sellers are getting back onto the market in anticipation of the high season.
- UCB (Under contract, accepting backup offers): UCB contracts saw a 17.9% rebound compared to the end of September, which is encouraging.
- Pending Homes Sales in Scottsdale: However, pending sales dropped over 18% between the end of September and the end of October.
- Scottsdale Home Sales: Home sales were up over 10% from the previous month. However, this sales figure is still on the lower end of the monthly sales compared to the last 12 months.
The following section contains two more things we track on a monthly basis.
The first part is a look at how the market performed relative to the prior month. For instance, the number of active listings at the end of October was up 9.1% compared to the end of September. This chart gives us insight into developing trends.
The second part is a quick ratio that looks at the actual sales prices of homes compared to what they were listed for. In October, this came in at 96.4%. So, on average, buyers received a 3.6% discount off of asking prices.
October got a little momentum back in terms of sales activity. I anticipate it will stay somewhat the same for the month of November, with a possible dip in activity due to Thanksgiving.
*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 11/1/2018. 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