– July 2020 Scottsdale Homes for Sale and Home Sales –
July turned out to be an even better sales month for Scottsdale than June, which was already a great month. Sales were the highest we have seen in the past year.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2020
Each of the following items are tracked monthly:
– Single-family homes for sale – Orange Line – How many homes were listed at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were in UCB status 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 – How many homes sold over the course of the month.
JULY 2020 RESULTS
- Scottsdale Homes for Sale: Inventory levels are dire in Scottsdale and in the Phoenix market in general. I have been tracking these figures since 2007 and this is the first time I have seen it dip under the 1,000 mark. This low inventory will certainly hold future home sale activity back.
- UCB (Under contract, accepting backup offers): We saw the number of UBC contracts fall a little bit in July. This is probably a combination of seasonality and low inventory.
- Pending Homes Sales in Scottsdale: Pending sales were also off slightly, likely for the same reasons as the UBC contracts.
- Scottsdale Home Sales: After a huge jump in June, sales were up another 10.4% in July., making this the best sales month of the year. (On a side note, the luxury home market in July had its best July in 20 years!)
There are two more items we track on a monthly basis and they are below.
Percent Change Month Over Month – Each sales status’ performance is compared to the previous month’s performance. For instance, the number of active homes declined by 11.5% between the end of June and the end of July.
Sales Price to List Price – This metric looks at the prices homes sold for compared to what they were on the market for. This figure stayed at 96.6% in July.
*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.
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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.
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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2020. 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
