Here are October 2011’s home sales results for Scottsdale Arizona. This monthly report looks at home sales activity in Scottsdale over the previous 12 months. The data is broken into monthly segments so you can compare how the real estate market is performing over time.
There are three sales categories in this report. They are as follows:
- Scottsdale homes currently on the market
- Pending sales of Scottsdale homes
- Actual home sales in October
October 2011 Highlights for Scottsdale AZ Homes for Sale:
- Active Scottsdale Homes for Sale: The number of homes on the market moved up again in October to 1,776 or an 8.3% increase over September. This is the second month in a row where inventory has increased. However, this figure is still below the 12 month average of 2,096 homes for sale.
- Pending Homes Sales in Scottsdale: Pending sales saw another decrease in October. At the end of the month, there were 415 pending home sales. This is well below the 12 month average of 524.
- Scottsdale Homes Sold: 392 homes sold in October, which was an increase over September of 5.1%. This was interesting as it seemed sales would have decreased correspondingly with the decrease in pending sales the month prior. Nevertheless, we did see an increase. 392 is a little below the 12 month average of 416 sales.
- Sales Price to List Price: 94.0% – This is the strongest we have seen this ratio in the last 12 months. On average, buyers were able to purchase homes at a 6% discount off of asking price.
October 2011 was a mixed month for Scottsdale AZ home sales. Inventory has been increasing for the last two months and in October, it jumped 8.3% over September. Pending sales were also down again, which would indicate that we may see a drop in home sales in November. On a positive note, homes sales were up slightly in October event though the lowing pending numbers would have indicated a corresponding drop in sales. It will be interesting to see if inventory continues to increase into November.
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Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2011 and can change at any time. The analysis looks at single-family resale homes for sale and home 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 © 2011 Heather Tawes Nelson
