– December 2018 Scottsdale Homes for Sale and Home Sales –
The Scottsdale real estate market closed out December as anticipated, with slower sales and lower inventory. However, we did see robust sales in the $1 million to $1.5 million range.
SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2018
Every month, we look at the sales performance for the four different items that follow:
– Single-family homes for sale – The orange line tracks how many homes were for sale at the end of the month.*
– Under contract, but accepting backup offers (UCB) – The grey line tracks how many homes were in UCB status at the end of the month.*
– Pending home sales – The yellow line tracks the number of pending sales at the end of the month.*
– Home Sales – The blue line tracks the number of home sales.
DECEMBER 2018 RESULTS
- Scottsdale Homes for Sale: Inventory fell a little over 4% to 1,665 at the end of the month. This drop can usually be attributed to listings expiring on the last day of the year.
- UCB (Under contract, accepting backup offers): UCB contracts quite a bit to the lowest level we have seen all year.
- Pending Homes Sales in Scottsdale: Pending sales also fell to the lowest level of the year, coming in below 200.
- Scottsdale Home Sales: Home sales only fell by one between November and December.
This next part is a look at two other items we track on a monthly basis:
The top chart shows how each of the items we are tracking performed compared to the previous month. For example, pending sales fell 16.2% between the end of December and the end of November.
The bottom chart is called Sales Price to List Price. To calculate this, the average home sales price is compared to the average home asking price. In December, this came in at 96.3% – or homes sold on average for 3.7% off of asking price.
December was a quieter month and based on UCB and pending figures, January should also be somewhat quiet.
*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 1/1/2019. 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 © 2019 Heather Tawes Nelson | Joyce Tawes