– Scottsdale AZ Homes for Sale and Home Sales in May 2013 –
May was anothr excellent month on the home sales activity front for Scottsdale, Arizona. Sales were at the highest level we have seen in the past year. And pending sales, although down from April, were still solid.
SCOTTSDALE HOME SALES ACTIVITY FOR MAY 2013
The image below represents the previous year’s worth of activity. It shows inventory for sale, pending sales and actual home sales.
– Homes for sale are depicted in red.*
– Pending home sales are depicted in green.*
– Completed Home Sales are shown in purple.
MAY 2013 RESULTS
- Active Scottsdale Homes for Sale: Again, we saw inventory decrease month over month. This is the second month we have seen this. This is of some concern as inventory was already low, and decreased inventory could impede future home sales. However, Scottsdale does have more homes on the market this year as compared to last year this time.
- Pending Homes Sales in Scottsdale: Pending sales dropped 7.5% to 484 at the end of the month. This is about where it was during the high season months of February and March.
- Scottsdale Homes Sold: Sales in May were excellent and the best we have seen in the past year. 543 homes sold, which is well ahead of the 12 month average of 432.
The next two charts show you how things have been changing over the past year as well as how close homes are selling to their asking price.
The top section indicates the percent change on a month over month basis. As an example, the number of homes on the market was down 4.3% at the end of May as compared to the end of April.
The lower section is an indicator of final sales price as compared to asking price. This is a quick gauge of how much of a discount buyers received off of list price on average. In May, this figure moved into the 96% range for the first time since last summer.
Overall, the month of May was a positive one for Scottsdale home sales. Sales were the highest we have seen in the past 12 months and the pending inventory was still strong. For sale inventory is an ongoing thing to monitor as fewer quality homes on the market will dampen sales activity in the months to come.
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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 6/1/2013 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
