– Scottsdale AZ Homes for Sale and Home Sales in March 2013 –
Scottsdale Arizona home sales activity in March 2013 was brisk as the high selling season got underway. Below is an analysis that looks at homes for sale, pending sales and home sales over the previous twelve months.
SCOTTSDALE HOME SALES ACTIVITY FOR MARCH 2013
– Homes for sale are depicted in red.*
– Pending sales are depicted in green.*
– Completed Home Sales are are shown in purple.
MARCH 2013 RESULTS
- Active Scottsdale Homes for Sale: Inventory increased again in March to 1,619, a 2.9% increase over February. This is good news as low supply is hampering a lot of potential buyers from purchasing a home.
- Pending Homes Sales in Scottsdale: Pending sales slipped slightly to 482. Part of this can be attributed to inventory constraints.
- Scottsdale Homes Sold: Home sales saw a very healthy jump in March to 503. This is 29% over February and what is interesting is that there were only 490 pending sales at the end of February. We generally do not see sales figures exceed the pending figure from the month prior. However, when there are cash purchases and quick closes, this can happen.
This next section includes two charts. The top chart indicates how things have changed on a month over month basis. Here you can see the almost 30% increase in home sales in March.
The second chart compares actual sales prices to the listed price. This ratio is a quick way to gauge how much the average discount off of asking price is. The Scottsdale single family home market has been trending in the 95%’s for a while now, meaning, on average, buyers received a 4-5% discount off of asking price.
March was an excellent month for home sales in Scottsdale, as we would expect from a seasonal standpoint. The increase in inventory is a positive thing since it has been running so low. It will be interesting to see if the number of sales in April again exceeds the pending figure from the end of March.
Search Scottsdale AZ Homes for Sale
Disclaimer: * Homes for sale and pending home sales figures reflect the number of homes in that status at the end of the month. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and home sales in Scottsdale AZ over the last 12 months. 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 © 2013 Heather Tawes Nelson
