– September 2018 Scottsdale Homes for Sale and Home Sales –
September was another quiet month for the Scottsdale real estate market in terms of home sales. However, this is a seasonally slow month, so this is not surprising.
SCOTTSDALE HOME SALES ACTIVITY – SEPTEMBER 2018
We track the following four items on a monthly basis:
– Single-family homes for sale – The number of homes for sale at the end of the month is tracked on the orange line.*
– Under contract, but accepting backup offers (UCB) – The number of homes in UCB status at the end of the month is tracked on the grey line.*
– Pending home sales – The number of pending sales at the end of the month is tracked on the yellow line.*
– Home Sales – The number of home sales during the month is tracked on the blue line.
SEPTEMBER 2018 RESULTS
- Scottsdale Homes for Sale: Inventory saw a jump of over 5% to end the month at 1,573. The number of homes for sale tends to stay pretty level at this time of year, so perhaps sellers are trying to get a jump on the market.
- UCB (Under contract, accepting backup offers): UCB contracts fell again to close out the month at 207. This is the lowest they have been in the past year.
- Pending Homes Sales in Scottsdale: Pending sales edged up slightly to 255 at the end of September.
- Scottsdale Home Sales: Home sales fell sharply. They were down 21.5% compared to August.
This next section includes two more metrics we track each month.
The top part is a look at how each of the four sales statuses we are tracking compares to the previous month’s performance. For instance, pending sales were up 2% between the end of August and the end of September.
The lower part is something called Sales Price to List Price. It is a quick measurement to see how much homes are selling for on average based upon average list prices. In September, it was 96.3%. This means on average, buyers saw a 3.7% discount off of asking prices.
As expected, September was a little slow and I anticipate October to be similar.
*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 10/1/2018. 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 © 2018 Heather Tawes Nelson | Joyce Tawes
