– Scottsdale Homes for Sale and Home Sales in August 2014 –
As Scottsdale continues through its low season, we saw the expected corresponding drop in home sale activity in August. Inventory, pending sales and home sales were all down.
SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2014
The graph below charts out the previous twelve months of real estate activity in Scottsdale. You will see data for the following three categories:
– Single-family homes for sale are shown in red.*
– Pending home sales are shown in green.*
– Home Sales are shown in purple.
AUGUST 2014 RESULTS
- Active Scottsdale Homes for Sale: Inventory dropped again. It has been dropping steadily since March and was down 3.3% over the end of July. This is well below the 12 month average of 2,071 homes for sale.
- Pending Homes Sales in Scottsdale: As anticipated, pending sales were down in August to 273. This is the seasonally slow season and this figure came in below the 12 month average of 317.
- August Home Sales in Scottsdale: A total of 360 homes sold in August. This is the first time it has dropped into the 300’s since March 2014. The 12 month average for sales is 366.
The next chart takes a look at two things, the rate of change from month to month as well as a peek into sales prices as compared to list prices.
The top section shows how the categories change from month to month. For instance, pending sales were down 10.5% between the end of July and the end of August. And it is interesting to look at the patterns. Looking at active homes on the market, you could see the sharp increase as sellers put their homes back on the market last Fall as well as at the beginning of the year. Then, we see inventory going down as we moved into the slower summer months.
The lower section compares sales prices of the homes with the prices they had been listed for. This figure has been pretty level through the last year and in August, buyers, on average, received a 4.1% discount off of asking price.
August was a quiet month for Scottsdale home sales. The positive takeaway is that this is in line with the seasonality we see every year and as we move back into the high season, we should see things start to pick up again.
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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: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2014 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
