– August 2020 Scottsdale Homes for Sale and Home Sales –
This is probably the most interesting year in real estate that I have tracked, and I have been doing this monthly report since 2007.
After about a two month pause in March and April , real estate activity came roaring back. Usually, we see sales fall off in August and continue to fall off for the next few months.
However, low inventory and pent-up demand are keeping sales at high numbers.
SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2020
Each of the following items are tracked monthly:
– Single-family homes for sale – Orange Line – The number of homes for sale at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of homes showing UCB status at the end of the month.*
– Pending home sales – Yellow Line – The number of pending sales there were at the end of the month.*
– Home Sales – Blue Line – The number of home sales over the course of the month.
AUGUST 2020 RESULTS
- Scottsdale Homes for Sale: It is shocking how low inventory is currently. It was eye-opening when it dropped to under 1,000 and now it has dropped another 5.8% to close out the month at 864.
- UCB (Under contract, accepting backup offers): UCB contracts were up at the end of August to 334. This is about 100 contracts more than where we were this time last year.
- Pending Homes Sales in Scottsdale: The number of pending contracts was also up. Typically, we see pending and UCBs start to trail downward at this time of year.
- Scottsdale Home Sales: Home sales were down, but were still at a very strong pace for this time of year. In August of 2019, there were 449 sales.
Below are two more sales statistics we track on a monthly bais.
Percent Change Month Over Month – This top chart compares sales activity to the previous month’s activity. For instance, pending sales were up 6.5% over July.
Sales Price to List Price – The lower chart looks at the sales price of homes compared to what they had been on the market for. In August, this figure was 96.9%. And to look at it another way, buyers saw an average of 3.1% off of asking prices.
*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 9/1/2020. 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