– October 2017 Scottsdale Homes for Sale and Home Sales –
October posted a very solid sales month for the Scottsdale real estate market. Pending sales and actual home sales were up at the end of the month.
SCOTTSDALE HOME SALES ACTIVITY – OCTOBER 2017
Below is a graph that tracks the last twelve month of home sales activity in Scottsdale. We are tracking four different metrics.
– Single-family homes for sale are depicted by the red line.*
– Under contract, but accepting backup offers (UCB) are depicted by the green line.*
– Pending home sales are depicted by the purple line.*
– Home Sales are depicted by with the blue line.
OCTOBER 2017 RESULTS
- Scottsdale Homes for Sale: Inventory continued to increase for the second month in a row. It was up to 1,985 at the end of October, an 8.2% increase over the end of September.
- UCB (Under contract, accepting backup offers): UCB sales were also up by a modest 1.8% to 277.
- Pending Homes Sales in Scottsdale: The number of pending sales at the end of the month was up 5.6% over the previous month. This is ahead of where we were about this time last year.
- Scottsdale Home Sales: After a drop in September, sales were up 7% in October. We closed out the month at just under 400 sales.
The following section covers two more aspects of the Scottsdale real estate market.
The top part shows how each of the four items we are tracking changed on a month-over-month basis. We were up in each category in October compared to the end of September.
The lower part looks at a metric that is a quick way to get a feel for the market. It is the Sales Price to List Price metric. It looks at what homes sold for relative to the price they were on the market for. In October, homes sold on average at 96.7% of their list prices. And from the buyer’s perspective, buyers on average saw a 3.3% discount off of asking price.
Overall, October was a good month for real estate sales in Scottsdale. And with pending and UCB’s up at the end of the month, November should be pretty good, too.
*Figures for active homes for sale, UCB sales 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 11/1/2017. 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
