Scottsdale AZ Single Family Home Sales – March 2017

– March 2017 Scottsdale Homes for Sale and Home Sales –

March was a great sales month for the Scottsdale real estate market.

SCOTTSDALE HOME SALES ACTIVITY – MARCH 2017

Below is a chart that looks at the past year of home sales activity in Scottsdale.

– Single-family homes for sale are shown on the red line.*
– Under contract, but accepting backup offers (UCB) are shown on the green line.*
– Pending home sales are shown on the purple line.*
– Home Sales are shown on the blue line.

MARCH 2017 RESULTS

• Scottsdale Homes for Sale: Inventory was up for the third month in a row. This is well ahead of the 12 month average of 2,177 homes on the market. However, we are in the high season, so we expect inventory to be higher.
• UCB (Under contract, accepting backup offers): This category I recently added to my reporting was also up over 11% from the previous month. We ended March with 350 homes in UCB status.
• Pending Homes Sales in Scottsdale: Pending sales saw a huge jump from 258 to 361 at the end of the month. This puts us in line with the kind of numbers we were seeing this time last year.
• Scottsdale Home Sales:  Sales had a great month. We closed out March with 517 sales, a 40% increase over February.

 

Below are two more things I measure on a monthly basis.

The top section looks at how each category performed relative to the month before it. So, looking at pending sales, you can see they were up almost 40% over February’s pending sales.

The lower section is looking at on average how much homes are selling for when compared to what they had been on the market for. In March, homes on average sold for 96% of list price. This can also be looked at as buyers saw an average discount off of list price of 4%.

I look forward to seeing the April’s performance. We have some strong momentum, so it should be good.

*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 4/1/2017. 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