– September 2023 Scottsdale Homes for Sale and Home Sales –
September was the quietest month we have seen in a while in terms of home sales and sales activity. Again this is to be expected due to seasonality, but we are also feeling the impacts of lower inventory and interest rates.
SCOTTSDALE HOME SALES ACTIVITY – SEPTEMBER 2023
Every month, we look at these four items related to home sales:
– Single-family homes for sale – Orange Line – How many active listings there were at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of homes 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 home sales took place.
SEPTEMBER 2023 RESULTS
- Scottsdale Homes for Sale: The number of homes for sale was up 9.7% when compared to the end of August and we passed back over the 900 mark again.
- UCB (Under contract, accepting backup offers): UCBs fell to a level we have not seen since the end of 2022. The month closed out with 117 UCBs.
- Pending Homes Sales in Scottsdale: Pending sales are actually the only bright spot in this month’s review. Pending sales were up slightly over August and we closed out with 195 in the pipeline.
- Scottsdale Home Sales: The number of home sales dropped quite a bit when compared to August’s performance. We have not seen sales in the 200’s since February.
The following section contains two more sales metrics we use to look for trends in the market:
Percent Change Month Over Month – The first metric, Percent Change Month Over Month, allows us to see how each of the tracked items performed relative to the previous month. For instance, sales were down 22.3% between August and September.
Sales Price to List Price – The second metric looks at pricing. Here, list prices are compared to sale prices. If the percentage is low, homes are selling for a larger discount and, conversely, if the percentage is closer to 100%, discounts are harder to come by. In September, we came in at 97.1% which is an average discount of 2.9% 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.
Curious about your buying power? Click on the link to learn more.
Search Scottsdale AZ Homes for Sale
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2023. 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 © 2023 Heather Tawes Nelson | Joyce Tawes
