-September 2022 Scottsdale Homes for Sale and Home Sales –
Inventory was on the increase again in September, although we are still below where we would be in a ‘”normal” market. Contract activity was level, but sales fell again after rebounding in August.
SCOTTSDALE HOME SALES ACTIVITY – SEPTEMBER 2022
Every month, we look at the following four things:
– Single-family homes for sale – Orange Line – How many homes were showing active at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were showing UCB at the end of the month.*
– Pending home sales – Yellow Line – How many pending sales there were.*
– Home Sales – Blue Line – How many homes sold over the course of the month.
SEPTEMBER 2022 RESULTS
- Scottsdale Homes for Sale: The inventory of active listings was up 8.5% between August and September. Additional homes on the market means more opportunities for buyers.
- UCB (Under contract, accepting backup offers): UCB contracts fell slightly going from 151 at the end of August to 145 at the end of September.
- Pending Homes Sales in Scottsdale: Pendings were up slightly at the end of the month to 248.
- Scottsdale Home Sales: Home sales fell under the 300 mark again. While this is not the poorest sales month in the past year, it does come in as the second poorest.
Below are two more sales metrics that allow us to track what is going on in the Scottsdale real estate market.
Percent Change Month Over Month – This looks at sales performance relative to the performance of the previous month. For instance, there were 1.2% more pending contracts at the end of September than there were at the end of August.
Sales Price to List Price – This is a simple metric to see the difference between listing prices and sales prices. In September, homes on average sold for 96.9% of their asking prices. Looking at it another way, buyers on average saw a 3.1% discount off of 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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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2022. 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
