– April 2024 Scottsdale Homes for Sale and Home Sales –
Typically, April is a very strong month for sales, building off of the momentum from the high season. However, this April had some less than impressive results.
SCOTTSDALE HOME SALES ACTIVITY – APRIL 2024
We track the following sales statuses on a monthly basis:
– Single-family homes for sale – Orange Line – The number of active listings 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 contracts at the end of the month.*
– Home Sales – Blue Line – The number of homes that closed during the month.
APRIL 2024 RESULTS
- Scottsdale Homes for Sale: Inventory was back up slightly by the end of April. It is nice to see this return to a more historically normal level.
- UCB (Under contract, accepting backup offers): The number of UCB contracts dropped by over 16%. Granted, this is being compared to the best performing month of the last year, but I was anticipating it coming in a little higher.
- Pending Homes Sales in Scottsdale: Pending contracts were also down, although not dramatically. However, this was still a strong performance for the month.
- Scottsdale Home Sales: Home sales broke the 400 mark for the first time since May 2023. I would like to see sales stay in this range for May, but with the drop in UCB contracts, it may dip back into the 300’s.
In this next section, we will go over two other items we track:
Percent Change Month Over Month – On the top, we are looking at how things are changing relative to the month before. For instance, home sales were up 17.5% in April when compared to March.
Sales Price to List Price – The bottom chart shows the spread between what homes were on the market for and the eventual sales price. When homes are selling close to asking prices, this spread will be smaller. In April, this figure came in at 96.7%, meaning that on average, buyers saw a 3.3% discount 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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MLS IDX Listing Disclosure © 2024
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2024. 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 © 2024 Heather Tawes Nelson | Joyce Tawes
