– Scottsdale Homes for Sale and Home Sales in September 2013 –
In continuation from August trends, we again saw for sale home inventory increase in Scottsdale and home sales taper off.
SCOTTSDALE HOME SALES ACTIVITY – SEPTEMBER 2013
The image below illustrates home sale activity over the previous 12 months divided into three categories:
– Homes for sale are depicted in in red.*
– Pending home sales are depicted in green.*
– September Home Sales are depicted in purple.
SEPTEMBER 2013 RESULTS
- Active Scottsdale Homes for Sale: We saw a 12.4% jump in inventory of for sale homes over the course of the month. The last time we saw a jump this large was about this time last year. Some of this is due to homeowners putting their homes back onto the market after the summer and some is due to the slower absorption rate. Homes for sale in Scottsdale now number over 1,600, while the 12 month average for this is 1,498 homes.
- Pending Homes Sales in Scottsdale: We saw another drop in pending sales in September. Pending sales were down 9.9% over August and came in at 300, the lowest we have seen in the past 12 months.
- Scottsdale Homes Sold: Based on lower pending sales numbers, home sales in September declined to 347, a 10.3% over August. Much of this can be attributed to seasonality.
Here are two more charts to show how the Scottsdale real estate market is performing.
The top section shows the rate of change month-over- month for each of the categories. As you can see active listings have been on the upswing for the past two months.
The lower section looks at the sale price in comparison to the asking price of the homes and shows you the average discount buyers have gotten. In September, on average, buyers purchased their homes for 3.5% off of the asking price.
September 2013 was a very slow month for Scottsdale home sales. The increase in inventory should help buyers who have been dealing with a small number of homes on the market. However, the very low pending figure does not bode well for October sales.
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Disclaimer: Homes for sale and pending home sales figures reflect the number of homes in that status at the end of the month. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2013 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. information deemed reliable, but not guaranteed. There September 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 © 2013 Heather Tawes Nelson
