– July 2019 Scottsdale Homes for Sale and Home Sales –
In July, we saw sales taper off, but it was still a good month. However, we did see a much sharper decline in inventory and pending sales.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2019
We look at the following four items on a monthly basis.
– Single-family homes for sale – Orange Line – How many homes were on the market at the end of the month.*
– Under contract, but accepting backup offers (UCB) – Gray Line – How many UCB contracts there were at the end of the month.*
– Pending home sales – Yellow Line – How many homes were in pending status at the end of the month.*
– Home Sales – Blue Line – The number of homes that sold that month.
JULY 2019 RESULTS
It is that time of year when Scottsdale and the surrounding areas see a seasonal slowdown in sales activity. Inventory will be lower due to fewer new listings and from sellers taking their homes off of the market. And sales and pending sales will also decrease.
- Scottsdale Homes for Sale: The inventory of homes for sale dropped dramatically between the end of June and the end of July. The month closed out at 1,300 homes on the market.
- UCB (Under contract, accepting backup offers): UCB contracts did not drop significantly, but we did see a decrease.
- Pending Homes Sales in Scottsdale: Again, there was not a huge drop in pending contracts, but they have been declining for a few months now.
- Scottsdale Home Sales: 475 homes sold in July, making it still a good month for sales. This figure will drop in September as there are fewer homes in the sales pipeline.
This last section contains two more metrics that we track.
The first metric shows how each of the sales statuses changed compared to the prior month. For instance, the number of active listings fell 16.5% between the end of June and the end of July.
The second metric looks at how much of a discount homes were selling for. In July, homes on average, sold at 96.3% of their asking prices. Looking at it from a buyer’s perspective, buyers were able to get homes at an average of 3.7% off of asking.
*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.
Curious about your buying power? Click on the link to learn more.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2019. 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