– Scottsdale Homes for Sale and Home Sales in May 2014 –
May was another solid month for the Scottsdale real estate market. Inventory continued to decrease, and although sales and pending sales were lower than April, they still came in strong.
SCOTTSDALE HOME SALES ACTIVITY – MAY 2014
Below is a chart showing the previous year of Scottsdale real estate activity. Included is data on the current inventory of homes for sale as well as pending sales and May home sales.
– Single-family homes for sale are depicted in red.*
– Pending home sales are depicted in green.*
– May Home Sales are depicted in purple.
MAY 2014 RESULTS
- Active Scottsdale Homes for Sale: We saw a second month of falling inventory in Scottsdale, which is a good thing. Some of this can be attributed to home sales, but also many homeowners take their homes off of the market in the off-season. This number will most likely rebound toward the end of the year in anticipation of the upcoming high season.
- Pending Homes Sales in Scottsdale: Pending sales at the end of May we down slightly to 368. This is above the 12 month average of 334 pending sales.
- May Home Sales in Scottsdale: 432 homes sold over the course of May. This is down about 6% off of April, but is still quite strong. It is also ahead of the 12 month average of 381 home sales.
This second section looks at the changes month over month in the different categories.
The first section compares listing and sales activity compared to the month prior. So, for instance, the number of homes on the market decreased 3.6% between the end of April and May.
The lower section looks at what homes are selling for in comparison to what they were listed for. Or, another way to look at it is how much of a discount on average buyers saw. In May, the average discount off of asking was 4.6%.
Overall, Scottsdale home sales activity in May was strong again. The number of homes on the market dropped again and we saw solid pending and sales figures.
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*Figures for active homes for sale and pending sales are based on the numbers at the end of the month.
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 6/1/2014 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 © 2014 Heather Tawes Nelson | Joyce Tawes
