Below are the results for June 2012 Scottsdale Arizona home sales.
Each month, we look at three kinds of data. The first is current Scottsdale homes for sale, pending sales of homes and completed home sales. In the charts below, you can see how each of these items is performing month-to-month.
This first chart shows active, pending and completed Scottsdale home sales over the past year through June 2012.
This second chart looks at the percentage change between months regarding inventory for sale and home sales. For instance, the number of homes for sale on the market at the end of June was 4.5% lower than it was at the end of May.
June 2012 Highlights for Scottsdale AZ Homes for Sale:
- Active Scottsdale Homes for Sale: The number of homes for sale dipped again by the end of June to 1,298. This is the lowest I have seen this figure since I started tracking these items in the Fall of 2007.
- Pending Homes Sales in Scottsdale: Pending sales dropped to 506 by the end of the month. This is still ahead of the 12 month average of 499. This drop is most likely due to restricted inventory as well as some seasonality.
- Scottsdale Homes Sold: As we expected from May pending figures, home sales in June were lower at 493. This is still well ahead of the 12 month average of 424.
- Sales Price to List Price: 95.5% - This is the second highest we have seen this ratio in the last 12 months. Home buyers on average saw a discount off of list price of less than 5%.
The Scottsdale real estate market saw decreases across the board in June. Inventory continues to shrink, which is impacting pending sales and therefore impacting home sales. On the positive side, this inventory restriction is leading to an uptick in home prices and values, which is good news for home sellers. The lower pending sales at the end of June forecast a slower sales month for July. We will also most likely see seasonal influences in play as well.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/30/2012 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. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2012 Heather Tawes Nelson