Scottsdale AZ Single Family Home Sales – April 2023

– April 2023 Scottsdale Homes for Sale and Home Sales –

April was a mixed month in terms of sales activity. The number of homes for sale as well as actual home sales were down, but pending contract activity was up.

SCOTTSDALE HOME SALES ACTIVITY – APRIL 2023

Each month, we look at the following four items:

– Single-family homes for sale – Orange Line – The number of homes on the market at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of homes 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 homes sold over the course of the month.

APRIL 2023 RESULTS

• Scottsdale Homes for Sale: The number of homes for sale fell for the second month in a row. We ended the month with less than 1,000 single-family homes for sale.
• UCB (Under contract, accepting backup offers): We saw an almost 18% bump in the number of UCJB contracts. April also posted the highest level we have seen in UCBs in the past year.
• Pending Homes Sales in Scottsdale: Pending sales moved into the 300+ range for the first time since May of 2022.
• Scottsdale Home Sales: The number of home sales fell quite a bit in comparison to March’s sales. This was due to the lower number of UCBs and pending sales in the pipeline at the end of March.

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We have two more things we track on a monthly basis:

Percent Change Month Over Month – On the top is percent change month over month. We compare the current month to the one prior to see how things are trending. For instance, pending sales were up 13.5% in April when compared to March.

Sales Price to List Price – On the bottom is sales price to list price. This compares the average sales price of homes to the average price those homes had been listed for. In April, it was 95.8%, meaning buyers saw an average discount of 4.2% off of asking prices.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2023. 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 © 2023 Heather Tawes Nelson | Joyce Tawes