– January 2017 Scottsdale Homes for Sale and Home Sales –
January is typically a sluggish sales month as the holidays in December tend to take people away from home searches and this January was no different.
SCOTTSDALE HOME SALES ACTIVITY – JANUARY 2017
The graph below shows the past year of real estate activity in Scottsdale.
– Single-family homes for sale are shown by the red line.*
– Under contract, but accepting backup offers (UCB) are shown by the green line.*
– Pending home sales are shown by the purple line.*
– Home Sales are shown by the blue line.
JANUARY 2017 RESULTS
- Scottsdale Homes for Sale: At the beginning of each year, we see a bump in the number of homes for sale as people wait to put their homes onto the market after the holidays. This year, we saw a 5.9% increase in inventory.
- UCB (Under contract, accepting backup offers): This category has been around for a bit, but is now being heavily used instead of ‘pending’ when a home first goes under contract. Here, the home has an accepted contract, but the home seller still wants to entertain backup offers in case the first contract falls out.
- Pending Homes Sales in Scottsdale: Pending homes saw a rebound as people got back into the home hunting mode with the new year. There was an 18.3% jump in pendings.
- Scottsdale Home Sales: Sales fell slightly as there was less pending inventory at the end of December.
This next section looks at two other components of the Scottsdale real estate market.
The top section compares the different types of sales activity from one month to the next. As you can see, sales were 12.1% lower in January than they were in December. UCB is not on this chart as we only have one month of activity. It will start appearing in the February report.
The lower section is a metric called Sales Price to List Price. It looks at actual sales prices of homes compared to what they were listed for. In January, this came in at 95.9%. Looking at it another way, buyers on average received a 4.1% discount off of asking prices last month.
As we head into February, we should hopefully see things start to pick up a little bit.
*Figures for active homes for sale and pending sales are based on the numbers at the end of the month.
Search Scottsdale AZ Homes for Sale
Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2017. 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 © 2017 Heather Tawes Nelson | Joyce Tawes
