– Scottsdale Homes for Sale and Home Sales in April 2016 –
Scottsdale home sales had an excellent month in April. Sales volume was higher than we have seen in years and inventory finally decreased after several months of increases.
SCOTTSDALE HOME SALES ACTIVITY – APRIL 2016
Here is a chart that shows home sales activity over the past year. We track three items and they are:
– Single-family homes for sale are represented by the red line.*
– Pending home sales are represented by the green line.*
– Home Sales are represented by the purple line.
APRIL 2016 RESULTS
- Scottsdale Homes for Sale: Inventory finally started to taper off by the end of the month. It ended the month 3.1% lower than the end of March.
- Pending Homes Sales in Scottsdale: The number of pending sales was up slightly, which is a good sign for May numbers.
- Scottsdale Home Sales: Home sales came in at over 500 in April. We have not broken the 500 barrier since July of 2013. So that was impressive.
This next part looks at two other sets of data including the comparison of sales activity and sales prices when compared to list prices:
The top section deals with the month-over-month changes in sales activity. So as you can see, sales were up 7.2% in April when compared to March.
The lower section compares average sales prices to average list prices. In April, this figure was 96.9%, meaning buyers on average received a 3.1% discount off of asking prices.
Scottsdale home sales were impressive in April and I hope to see this momentum continuing. It was also nice to see inventory stabilize. From all accounts, May should also be a solid sales 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 5/1/2016 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 April 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
