– Scottsdale Homes for Sale and Home Sales in March 2016 –
March was a very solid month for home sales in Scottsdale. Pendings were also up, along with inventory.
SCOTTSDALE HOME SALES ACTIVITY – MARCH 2016
Below is a chart that shows three components of sales activity and how they performed over the past twelve months. These components are:
– Single-family homes for sale are depicted by the red line.*
– Pending home sales are depicted by the green line.*
– Home Sales are depicted by the purple line.
MARCH 2016 RESULTS
- Scottsdale Homes for Sale: Inventory continued its rise in March, although the rate of homes coming onto the market slowed to 1.4% between the end of February and the end of March. This is the highest we have seen this figure in the past 12 months.
- Pending Homes Sales in Scottsdale: Pending sales were up 9.3% over February to 366. This is a very healthy number and is the second highest we have seen for pendings in the past year.
- Scottsdale Home Sales: The number of homes sold jumped an incredible 46.9% over February to 470 sales. This is a reflection of Scottsdale being the high season, where we see sales increase every year.
The next section looks at a couple of other things related to home sales activity in Scottsdale:
The upper chart shows how each of the components performed relative to the prior month. As I alluded to above, all three saw increases, with home sales coming in with an impressive 46.9% jump.
The lower chart compares asking prices for the homes compared to the prices they sold for. So in March, homes on average sold for 95.3% of list price. Looking at this another way, buyers on average saw a 4.7% discount off of list prices in March.
March was an excellent month for Scottsdale home sales. New inventory coming onto the market slowed, pending sales were up almost 10% and home sales were excellent. Based on this month’s performance, April should be another solid month.
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*Figures for active homes for sale and pending sales are based on the numbers at the end of the month.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2016 and can change at any time. The analysis looks at single-family resale homes for sale and home sales in Scottsdale AZ over the last 12 months. Information deemed reliable, but not guaranteed. There March 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 © 2016 Heather Tawes Nelson | Joyce Tawes
