– Scottsdale Homes for Sale and Home Sales in July 2014 –
Real estate activity in Scottsdale slowed a bit as we moved trough the month of July, although sales were still respectable. During this low-demand time of year, we tend to see slower sales activity as well as a large number of homes being taken off the market.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2014
The graph below depicts the previous 12 months of home sales activity in Scottsdale. Three categories of data are shown:
– Single-family homes for sale are represented in red.*
– Pending home sales are represented in green.*
– July Home Sales are represented in purple.
JULY 2014 RESULTS
- Active Scottsdale Homes for Sale: We saw the active inventory drop again in July by 6.2% to 1,920. This is the lowest it has been this year.
- Pending Homes Sales in Scottsdale: The number of pending sales at the end of month dropped to 305. Again, this is not surprising based upon the time of year.
- July Home Sales in Scottsdale: 401 homes sold in July. And although this is off of last month’s high, it is still the fourth strongest sales month in the past year.
The following section maps out the rate of change month to month for each set of data as well as sales prices as compared to list prices.
The upper chart looks at how activity increased or decreased in comparison to the previous month. As you can see for July, inventory was down as well as pending sales and sales in comparison to June.
Below that is a look at what homes sold for in comparison to what they were on the market for. This figure has been trending in the 95-96% range for the past year. And in July, buyers received an average discount of 3.7% off of asking prices.
Overall, July held its own in terms of sales, even though they were lower than June. Inventory and pending sales also decreased, but most of this is based on seasonality.
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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: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2014 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
