– November 2022 Scottsdale Homes for Sale and Home Sales –
November was another slow sales month for the Scottsdale housing market. Historically, November tends to be a slower month.
SCOTTSDALE HOME SALES ACTIVITY – NOVEMBER 2022
– 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 had UCB contracts on them at the end of the month.*
– Pending home sales – Yellow Line -How many pending sales were in the pipeline at the end of the month.*
– Home Sales – Blue Line – How many homes sold that month.
Each month, we track and examine the following four items:
NOVEMBER 2022 RESULTS
- Scottsdale Homes for Sale: Inventory has pretty much been on an upward trajectory since the end of March. However, in October we saw the number of homes for sale decrease by almost 7%.
- UCB (Under contract, accepting backup offers): UCB contracts fell to the lowest levels we have seen in the past year.
- Pending Homes Sales in Scottsdale: The number of pending contracts was down for the second month.
- Scottsdale Home Sales: Home sales fell to 267. This also is the lowest we have seen in the past year..
Here are two more sales metrics that we track on a monthly basis:
Percent Change Month Over Month – This section takes a look at how things changed on a month-over-month basis. For instance, sales were down 3.7% at the end of November when compared to the end of October.
Sales Price to List Price – This metric shows you how much homes are being sold for compared to the prices they had been listed for. In November, on average, homes sold for 96.4% of list price. Or, looking at it another way, buyers saw an average discount of 3.6% 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.
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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2022. 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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