– August 2016 Scottsdale Homes for Sale and Home Sales –
August was an interesting month for Scottsdale home sales. We saw the number of homes on the market and pending sales dip, which are both seasonal occurrences. However, sales saw a very healthy jump, even though pendings from the previous month were not that high.
SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2016
Below is a chart mapping the past 12 months of sales activity for the Scottsdale housing market.
– 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.
AUGUST 2016 RESULTS
- Scottsdale Homes for Sale: The inventory of homes for sale dropped 5.8% over the end of July to come in at 1,824.
- Pending Homes Sales in Scottsdale: Pending sales also saw a seasonal drop to under 300. This implies we will most likely see a slow sales month in September.
- Scottsdale Home Sales: Sales had an unexpected and impressive rebound in August. 446 homes sold, an 18% improvement over July. This was interesting as we headed into the month with only 317 pending sales.
This next set of information has two components.
The top numbers are how active, pending and sold homes performed relative to the previous month. So, for example, pending sales were down 9.1% between the end of July and the end of August.
The lower section is a measure called sales price to list price. Here, what homes sold for compared to what they were on the market for is being measured. In August, homes sold on average for 95.6% of their asking price. Or, looking at it another way, buyers on average saw a 4.4% discount off of asking prices.
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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 9/1/2016 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 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 © 2016 Heather Tawes Nelson | Joyce Tawes
