– Scottsdale Homes for Sale and Home Sales in February 2014 –
Home sales in Scottsdale saw an improvement over the seasonal lull in January. However, inventory numbers moved up yet again.
SCOTTSDALE HOME SALES ACTIVITY – FEBRUARY 2014
The chart below looks at the number of homes for sale at the end of the month, as well as pending sales and completed sales.
– Single-family homes for sale are illustrated by the red line.*
– Pending home sales are illustrated by the green line.*
– February Home Sales are illustrated by the purple line.
FEBRUARY 2014 RESULTS
- Active Scottsdale Homes for Sale: We saw another increase in inventory in February. Although it was not as dramatic as the jump in January, it still added over 100 new homes in February. Of note, inventory levels are the highest we have seen in the past 12 months.
- Pending Homes Sales in Scottsdale: Pending sales moved upward, back into the 300’s at the end of February. We have not seen numbers like that since late summer last year, so that is a good sign as we move into the high season.
- February Home Sales in Scottsdale: Sales were up in February, even though it was a shorter month. We closed out the month with 310 single-family home sales, a decent improvement.
Below are two more charts relating to Scottsdale home sales activity.
The first chart shows how these figures change on a monthly basis as compared to the month before. In looking at February, inventory was up 18.7% over January and pendings and sales were also up in excess of 20% over January.
The second chart compares sales prices to the list prices of the homes that sold. This ratio has been holding pretty steady for the last year. On average, buyers saw a 4.4% discount off of asking price in February.
In summary, February was a decent recovery month for the Scottsdale real estate market. Although inventory was up again, we did see a solid increase in pendings and sales. The goal will be for this sales momentum to continue without the inventory level increasing much further.
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*Figures for active homes for sale and pending sales are based on the numbers at the end of the month.
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 3/1/2014 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 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 © 2014 Heather Tawes Nelson | Joyce Tawes
