February’s numbers for Scottsdale homes for sale were an improvement over January’s home sales’ disappointing finish. Inventory stayed level and pending home sales and completed home sales rebounded. In addition, the sales price to listing price ratio improved for the first time in three months.
February 2010 Highlights for Scottsdale Homes for Sale:
- Active Homes for Sale: There were 2,924 homes for sale in Scottsdale at the end of February. This was down three homes from January’s 2,927. The 12 month average for this figure is 3,043.
- Pending Home Sales: Pending home sales shot up 24.8% over January to 588. We have not seen pending home sales in Scottsdale this high since I started tracking this data in September of 2007. The closest we have been to this is 274 in June of 2009. The 12 month average for pending home sales is 504.
- Homes Sold: There were 301 single-family home sales in Scottsdale in February. This was a nice improvement over January’s 267, but this still lags behind the 12 month average of 335.
- Sales Price to List Price: 92.1% – This is pretty representative of this figure. Typically, it tracks in the low 90%’s.
Overall, February was a promising month for Scottsdale AZ real estate. Sales were up, even though they were still behind the 12 month average, and the surge in pending sales was nice to see. In addition, the abundance of pending home sales bodes well for March sales numbers. Inventory seems to be stabilizing or slightly decreasing which is also a positive sign.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2010 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2010 Heather Tawes Nelson
