– July 2022 Scottsdale Homes for Sale and Home Sales –
We are definitely seeing a slowdown in the market, which is great news for weary buyers. Inventory continued to increase and we saw a slowdown in contracts and sales.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2022
We track each of the following sales metrics on a monthly basis:
– Single-family homes for sale – Orange Line – How many homes were for sale at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were in UCB status at the end of the month.*
– Pending home sales – Yellow Line – How many pending sales there were at the end of the month.*
– Home Sales – Blue Line – How many homes sold during the month.
JULY 2022 RESULTS
- Scottsdale Homes for Sale: Inventory was up between the end of June and July. The number of homes for sale has more than doubled since the end of April.
- UCB (Under contract, accepting backup offers): UCB contracts were down again in July. This could be a combination of the changing market as well as our seasonal slowdown during the summer months.
- Pending Homes Sales in Scottsdale: Pending sales were actually up slightly in July. But they were still low compared to pending sales numbers from previous months.
- Scottsdale Home Sales: Home sales fell to their lowest number in the past year, dropping into the 200 range for the first time.
Here are two more items we look at to get a better understanding of the market.
Percent Change Month Over Month – The top image shows month-over-month performance compared to the previous month. For example, the number of homes on the market was up 12.2% between the end of June and the end of July.
Sales Price to List Price – Here, we are looking at what homes sold for relative to what they were listed for. For several months, buyers were (on average) paying a premium over list price. However, things moved in the opposite direction over the past two months. In July, buyers saw an average discount of 2.5% off of list price.
*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.
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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 8/1/2022. 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 © 2022 Heather Tawes Nelson | Joyce Tawes