July was another strong month for Scottsdale AZ homes for sale, but some of the momentum we had been seeing since the beginning of the year tapered off. The number of active homes on the market continues to drop. Pending sales were excellent, but off 12.7% over June and home sales were still strong, but were off 8.6% from June.
July 2009 Findings
Active Homes for Sale: The number of homes for sale was down to 2,782, a 4.3% decrease over June. This is the second month in a row that this figure has been under 3,000. The twelve month average for this figure is 3,666.
Pending Home Sales: There were 501 pending home sales at the end of July. This is down from June’s 574 pending sales. However, this figure is still well ahead of the 12 month average of 364.
Homes Sold: 392 homes sold in July in Scottsdale, taking us back under the 400 barrier we broke in June. Still, this is the second highest this figure has been since I started tracking this information in September of 2007. The 12 month average for this segment is 269.
Sales Price to List Price: July’s sales price to list price ratio was 90.4%. That is more or less on par with where this figure has been over the last 12 months.
While July slipped a little bit as far as number of pending sales and actual home sales, Scottsdale still posted a very strong month. Plus, inventory levels continue to decrease, which is a positive sign. The lower priced homes are still driving the bulk of the activity. As an example, 446 of the 501 pending sales were for homes priced less than $999,999. And, 350 of the 392 sales fell into the same price category.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2009 Heather Tawes Nelson
