– April 2020 Scottsdale Homes for Sale and Home Sales –
I hope this post finds you safe and well.
Here is a look at last month’s real estate market in Scottsdale. This is the first full month of sales activity with the coronavirus in play. As expected, sales and new contracts fell off.
SCOTTSDALE HOME SALES ACTIVITY – APRIL 2020
We track these four sales metrics 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 – The number of homes in UCB status at the end of the month.*
– Pending home sales – Yellow Line – The number of pending sales at the end of the month.*
– Home Sales – Blue Line – How many homes sold that month.
APRIL 2020 RESULTS
- Scottsdale Homes for Sale: Inventory remained basically level with March.
- UCB (Under contract, accepting backup offers): The number of UCB’s fell, but not as dramatically as we saw between February and March. We are still trending behind where we typically are at this time of year.
- Pending Homes Sales in Scottsdale: Pending sales also took a hit in April. They were down 14.1%.
- Scottsdale Home Sales: Home sales dropped to the lowest level we have seen in the last year. There were 335 sales when we would expect to see sales in the 500+ range.
Here are two more sales metrics we use to monitor the market.
The first one is the Percent Change Month Over Month. Here sales activity is compared to the previous month. As you can see, sales fell 31.2% between March and April.
The second metric is Sales Price to List Price. It compares what homes were listed for and what they sold for. In April, homes sold for 96.2% of asking price and buyers saw an average discount off of asking of 3.8%.
*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 5/1/2020. 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 © 2020 Heather Tawes Nelson | Joyce Tawes