– February 2017 Scottsdale Homes for Sale and Home Sales –
February is typically a sluggish sales month as the holidays in December tend to take people away from home searches and this February was no different.
SCOTTSDALE HOME SALES ACTIVITY – FEBRUARY 2017
The image below represents the last 12 months of home sales and real estate activity in Scottsdale.
– Single-family homes for sale are depicted with the red line.*
– Under contract, but accepting backup offers (UCB) are depicted with the green line.*
– Pending home sales are depicted with the purple line.*
– Home Sales are depicted with the blue line.
FEBRUARY 2017 RESULTS
- Scottsdale Homes for Sale: Inventory was up 4.9% between January and February. This is in line with seasonal patterns._
- UCB (Under contract, accepting backup offers): This newly tracked category also saw a 6.1% increase month over month and we ended February with 315 UCBs.
- Pending Homes Sales in Scottsdale: Pending sales were down slightly. Normally, we would expect a little uptick, but we will keep an eye on this category.
- Scottsdale Home Sales: Sales were up in February to 368. This number should continue to increase as we head further into the year.
This next chart measures two other real estate metrics.
The first metric looks at performance on a month-over-month basis. As an example, you can see that pending sales fell by 2.6% between the end of January and the end of February.
The second metric is Sales Price to List Price. This measures what homes were listed for and what they ultimately sold for. February was the lowest we have seen in the past year at 92.2%. Looking at this from a buyers’ perspective, buyers on average got a 7.8% discount off of asking prices.
I look forward to seeing March figures to see if pending sales inventory picks back up.
*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.
Search Scottsdale AZ Homes for Sale
Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2017. 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 © 2017 Heather Tawes Nelson | Joyce Tawes
