– October 2016 Scottsdale Homes for Sale and Home Sales –
October was a quiet month for Scottsdale home sales. Inventory saw a jump of over 6% while pendings and sales fell. This decline in sales activity, however, is on par with seasonal patterns.
SCOTTSDALE HOME SALES ACTIVITY – OCTOBER 2016
The chart below shows the past year of home sales in Scottsdale. Three categories are being tracked:
– Single-family homes for sale are depicted by the red line.*
– Pending home sales are depicted by the green line.*
– Home Sales are depicted by the purple line.
OCTOBER 2016 RESULTS
- Scottsdale Homes for Sale: Inventory was up almost 11% over the end of September. This could be attributed to sellers who want to be on the market as the high season kicks off.
- Pending Homes Sales in Scottsdale: Pending sales were down slightly to 268, which is close to where they were around the same time last year.
- Scottsdale Home Sales: Sales were down a little bit to 389, but this still a decent performance for this time of year.
The next section is a combination of two other things I track related to Scottsdale home sales.
The top part shows how each of these sales statuses performed relative to the month prior. So as you can see, pendings were down 1.8% and sales were down 3.5% when comparing September to October.
The lower part is sales price to list price. Here the average sales price of homes is compared to the average asking price of those homes. In October, it came in at 96.1% of list price. Or, to look at it another way, buyers on average saw a 3.9% discount off of list prices.
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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 11/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes
