– February 2020 Scottsdale Homes for Sale and Home Sales –
February home sales activity came on strong -especially since it is a shorter month. However, very low inventory numbers may constrain future sales activity.
SCOTTSDALE HOME SALES ACTIVITY – FEBRUARY 2020
Each month, we track the following four items:
– Single-family homes for sale – Orange Line – How many homes were listed at the end of the month.*
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were in UCB status at the end of the month.*
– Pending home sales – Yellow Line – The number of pending sales at the end of the month.*
– Home Sales – Blue Line – How many completed home sales there were that month.
FEBRUARY 2020 RESULTS
- Scottsdale Homes for Sale: The inventory of homes for sale was very low at the end of the month. If you look at March 2019, there were almost two thousand homes for sale. February closed out with under 1,200.
- UCB (Under contract, accepting backup offers): UCB contracts entered the 300’s again in February, similar to what we saw at the same time last year.
- Pending Homes Sales in Scottsdale: Pending sales were up 23.5% over January, showing the strength of sales activity during the month.
- Scottsdale Home Sales: Home sales jumped by over 100 homes between January and February, representing a 37.1% increase.
Now, we will take a look at two other items we use to track the Scottsdale real estate market.
Percent Change Month Over Month compares sales activity of one month compared to the prior month. For instance, UCB contracts in February were up 15.1% over January.
Sales Price to List Price compares the prices homes sold for compared to the prices they had been listed for. On average, homes sold for 96.8% of asking prices in February, representing an average discount of 3.2% for buyers.
*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.
Curious about your buying power? Click on the link to learn more.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2020. 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 © 2020 Heather Tawes Nelson | Joyce Tawes
