– May 2023 Scottsdale Homes for Sale and Home Sales –
After a quieter April, May sales activity rebounded. We had seen a higher number of pending contracts in April and it looks like a large number of them closed in May.
SCOTTSDALE HOME SALES ACTIVITY – MAY 2023
We track the following sales statuses on a monthly basis:
– Single-family homes for sale – Orange Line – How many homes were showing active at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many UCB contracts there were at the end of the month.*
– Pending home sales – Yellow Line – How many pending contracts there were at the end of the month.*
– Home Sales – Blue Line – The number of homes sold during each month.
MAY 2023 RESULTS
- Scottsdale Homes for Sale: Inventory has been shrinking for the past several months. We are now close to the 900 mark, down almost 200 homes since January.
- UCB (Under contract, accepting backup offers): UCB contracts were down in May when compared with April. However, this is still the second best performance for UCBs in the past year.
- Pending Homes Sales in Scottsdale: Pending sales were also down in May, but similar to April, posted the second highest number of pendings in the past 12 months.
- Scottsdale Home Sales: Home sales jumped by 135 (or 29.7%) between April and May. This is the highest sales figure we have seen in the past year.
This last section contains two more sales metrics that we like to keep an eye on.
Percent Change Month Over Month – The chart on top looks at performance on a month-over-month perspective. For instance, the number of active listings fell 7.5% between the end of April and the end of May.
Sales Price to List Price – The bottom chart examines home prices and at what discount homes are selling for relative to their asking prices. In May, we came in at 95.9% which means homes sold at an average discount of 4.1% off of the average 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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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2023. 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 © 2023 Heather Tawes Nelson | Joyce Tawes