– March 2022 Scottsdale Homes for Sale and Home Sales –
The Scottsdale real estate market had a very fast-paced month in March. Sales skyrocketed even though inventory is incredibly low. And pricing pressure meant many of these sales went for more than asking price.
SCOTTSDALE HOME SALES ACTIVITY – MARCH 2022
We keep an eye on the following four sales metrics on a monthly basis:
– Single-family homes for sale – Orange Line – How many homes were for sale 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 contracts there were at the end of the month.*
– Home Sales – Blue Line – How many homes sold during the month.
MARCH 2022 RESULTS
- Scottsdale Homes for Sale: We saw a sorely needed increase in inventory in March. The number of homes for sale was up 9.8% over the end of February.
- UCB (Under contract, accepting backup offers): The number of UCB contracts was down by one. I would have expected this figure to increase.
- Pending Homes Sales in Scottsdale: Pending sales rebounded a little and closed the month out at 384.
- Scottsdale Home Sales: Sales came roaring back in March. We have not seen sales this high since about this time last year.
Here are two more things we look at on a monthly basis.
Percent Change Month Over Month – This metric gives us an idea about how things are performing relative to the month prior. As an example, home sales in Scottsdale were up 17.5% compared to February’s sales.
Sales Price to List Price – This is a simple way to gauge average pricing in a market. It compares what homes were listed for compared to what they actually sold for. On average in March, homebuyers paid a premium of 2% over the asking price.
*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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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 4/1/2022. 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 © 2022 Heather Tawes Nelson | Joyce Tawes
