– October 2022 Scottsdale Homes for Sale and Home Sales –
October was a lackluster month for home sales activity in Scottsdale. Sales were down slightly and contract activity fell to the lowest levels we have seen in the past month While some of this is due to current market conditions, October is also a seasonally slower time of year.
SCOTTSDALE HOME SALES ACTIVITY – OCTOBER 2022
– Single-family homes for sale – Orange Line – The number of homes 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.*
– Home Sales – Blue Line – The number of homes that sold.
We look at the following four sales metrics on a monthly basis:
OCTOBER 2022 RESULTS
- Scottsdale Homes for Sale: The number of homes for sale was up at the end of October. The additional inventory is good for buyers.
- UCB (Under contract, accepting backup offers): The number of homes in UCB status was down to 128 at the end of the month. This is the lowest we have seen in the past year.
- Pending Homes Sales in Scottsdale: Pending sales also fell to the lowest level we have seen in the past 12 months.
- Scottsdale Home Sales: Home sales remained under the 300 mark for the second month in a row.
The next section includes two more sales metrics we track:
Percent Change Month Over Month – Here, we are tracking the performance of the current month to the month prior. For example, the number of homes sold in October was down 4% compared to the number of homes sold in September.
Sales Price to List Price – This is a quick and easy metric used for sales prices. Here, we compare the average price homes sold for compared to the average asking price for homes. In October, sales price to list price came in at 95.3% So, on average, buyers saw a discount of 4.7% off of asking 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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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2022. 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.
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