– May 2018 Scottsdale Homes for Sale and Home Sales –
Here is an overview of the Scottsdale real estate market during the month of May 2018. I have been doing this report since September of 2007 and this is the most impressive month of sales activity I have seen.
SCOTTSDALE HOME SALES ACTIVITY – MAY 2018
This report takes a look at four different items related to Scottsdale home sales:
– Single-family homes for sale – The number of homes on the market at the end of the month is shown with the orange line.*
– Under contract, but accepting backup offers (UCB) – The number of homes in UCB status is shown with the grey line.*
– Pending home sales – The number of pending sales at the end of the month is shown on the yellow line.*
– Home Sales – The number of homes that sold is shown on the blue line.
MAY 2018 RESULTS
- Scottsdale Homes for Sale: We saw an incredible month of sales activity. This paired with fewer people putting their homes on the market at this time of year brought the number of homes for sale down over 10% between April and May.
- UCB (Under contract, accepting backup offers): The number of homes in UCB status fell 8.5% to 357 by the end of the month.
- Pending Homes Sales in Scottsdale: Pending sales were almost level, coming in at 331, a 2.6% decline.
- Scottsdale Home Sales: We almost crossed the 600 mark for home sales in May. The month closed out with 593 sales, the highest I have seen this figure since I started this monthly report in September of 2007.
The following figures are two more things we track related to home sales in Scottsdale.
The top part gives you a sense of how each of the categories is performing relative to the prior month. So, if you look at Sold homes, there was a 13.4% increase in May over April.
The bottom part is a quick and easy way to see how home prices are faring. This ratio is the average sales price of homes compared to the average list price. In May, it was 95.8%. So, buyers on average saw a 4.2% discount off of asking prices.
May was a fantastic month for the Scottsdale housing market. Based on what I am seeing in UCB and pendings, we should see activity fall off in June.
*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.
Search Scottsdale AZ Homes for Sale
Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2018. 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 © 2018 Heather Tawes Nelson | Joyce Tawes