– March 2020 Scottsdale Homes for Sale and Home Sales –
I hope this post finds you safe and well.
Here is a look at last month’s home sales activity in Scottsdale. While sales were strong, demand dropped off quite a bit as people began to stay home and/or postponed their timelines to buy or sell.
SCOTTSDALE HOME SALES ACTIVITY – MARCH 2020
We track each of the items below on a monthly basis.
– Single-family homes for sale – Orange Line – The number of homes for sale at the end of the month.*
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of UCB contracts at the end of the month.*
– Pending home sales – Yellow Line – How many pending sales there were at the end of the month.*
– Home Sales – Blue Line – The number of homes that sold during the month.
MARCH 2020 RESULTS
- Scottsdale Homes for Sale: The number of homes for sale was up 11.8% between February and March. This bounce in inventory could be due to decreased demand as well as sellers putting their homes on the market during the typically “hot” time of high season.
- UCB (Under contract, accepting backup offers): We saw a significant (39.2%) decrease in the number of UCB contracts as demand fell.
- Pending Homes Sales in Scottsdale: Pending sales also saw a large decrease (25.4%) for the same reason.
- Scottsdale Home Sales: Home sales were up 8.9% over February, which was good to see, but the number would probably have been in the 500’s in the absence of the pandemic.
This next section includes two other sales metrics we use to monitor Scottsdale’s housing market.
On the top, you will find the Percent Change Month Over Month. Here sales activity is compared to the previous month.
On the bottom, you will find Sales Price to List Price. This metric uses the average of what homes were listed for compared with what the sold for on average. In March, homes sold for 97.0% of list price. This means buyers saw an average discount off of asking prices of 3%.
*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.
Curious about your buying power? Click on the link to learn more.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2020. 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 © 2020 Heather Tawes Nelson | Joyce Tawes
