– Scottsdale Homes for Sale and Home Sales in July 2015 –
Home sales in Scottsdale in July were excellent. In fact, July was the second highest sales month in the past year.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2015
The chart below tracks three sales metrics related to local home sales. They include:
– Single-family homes on the market are depicted by the red line.*
– Pending home sales are depicted by the green line.*
– Completed home Sales are depicted by the purple line.
JULY 2015 RESULTS
- Active Scottsdale Homes for Sale: The number of homes on the market dropped again at the end of the month to 1,831. This was 6.3% lower than at the end of June and is a pattern we see seasonally.
- Pending Homes Sales in Scottsdale: Pending sales dropped almost 18% over the previous month. This is indicating that the market is slowing down, also something see seasonally.
- July Home Sales in Scottsdale: Sales were up another 3% to 486. This was quite impressive to see this far into the year. The 12 month average is 388 home sales. The bulk of these sales (430) were for homes priced less than $1 million.
The figures below look at two other metrics related to the Scottsdale real estate market.
The upper section looks at rate of change between the current month and the previous month. So as you can see, we have had three consecutive months of decreasing inventory of active homes for sale.
The lower section compares home prices to sales prices. So on average in July, homes sold for 95.8% of the asking price, or at a 4.2% discount.
The real estate market in Scottsdale had a great month in July. I had anticipated a solid month based on pending activity, but sales exceeded my expectations. However, with pending sales starting the month at less than 300, I believe August will come in a bit lower.
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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 8/1/2015 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 July 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 © 2015 Heather Tawes Nelson | Joyce Tawes
