– September 2024 Scottsdale Homes for Sale and Home Sales –
We saw a couple of interesting things in September. First, the number of homes for sale went up quite a bit. And second, we saw new contracts move higher, most likely spurred on by the drop in interest rates.
– Single-family homes for sale – Orange Line – How many homes were actively for sale at the end of the month.
– Under contract, but accepting backup offers (UCB)* – Gray Line – The number of UCB contracts at the end of the month.
– Pending home sales* – Yellow Line – How many pending contracts were at the month’s end.
– Home Sales – Blue Line – How many homes sold that month.
SEPTEMBER 2024 RESULTS
- Scottsdale Homes for Sale: Inventory was up 8.2% over August. This is the second biggest jump we have seen in the past year, with January was the highest as this is when people put their homes on the market after the holidays.
- UCB (Under contract, accepting backup offers): The number of UCBs rebounded in September, most likely due to lower interest rates.
- Pending Homes Sales in Scottsdale: We saw a second month of pending contract growth. This is good news as UCBs and pendings determine sales volume for the following month or two.
- Scottsdale Home Sales: This was the fifth month of sales volume decline. Interestingly, this is the same number of sales we saw in October 2023.
Here are two more sales-related metrics we measure monthly:
Percent Change Month Over Month – Here, we are looking at how each of the items performed compared to the prior month. For instance, there was a 15.1% increase in UCB contracts between August and September.
Sales Price to List Price -This metric measures what homes sold for in comparison to what they had been listed for. In September, buyers on average saw a 3.5% discount of off 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 10/1/2024. 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
