– November 2020 Scottsdale Homes for Sale and Home Sales –
November cotinued the streak of strong sales activity. We did see a little bit of slowing, but this could be due to the record-low inventory we are experiencing as demand is still high.
SCOTTSDALE HOME SALES ACTIVITY – NOVEMBER 2020
There are four items we track on a monthly basis:
– 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 my homes were in UCB status at the end of the month.*
– Pending home sales – Yellow Line – How many pending contracts there were at the end of the month.*
– Home Sales – Blue Line – How many homes sold during the month.
NOVEMBER 2020 RESULTS
- Scottsdale Homes for Sale: Inventory dipped by more than 100 homes between the end of October and November. This does not bode well for December sales. We were already at incredibly low inventory and the lack of it is holding back pent up demand.
- UCB (Under contract, accepting backup offers): UBC contracts were level between the end of October and November.
- Pending Homes Sales in Scottsdale: Pending sales were up over the end of October. To see this metric increase in November is unusual.
- Scottsdale Home Sales: Home sales activity fell in November, but when you factor in the incredibly low inventory and Thanksgiving, it makes more sense. What is insane is that for homes priced under $1 million, sales were 132.6% of the inventory available! (285 active listings versus 378 sales.)
We will now explore two more sales metrics we track:
Percent Change Month Over Month – For this one, we are tracking the changes between this month’s performance and the previous month’s. As you can see, the number of active listings declined by almost 18% between October and November.
Sales Price to List Price – This is a basic, easy way to see what homes are selling for in comparison to what they were listed for. In November, homes sold for 97.3% of their asking prices, or at an average of 2.7% off of list price.
*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 12/1/2020. 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
