- May 2021 Scottsdale Homes for Sale and Home Sales -
May kept the strong sales trends going even in the midst of very little inventory. In the under $1 million price point, there were only 147 homes for sale at the end of the month and yet over the course of the month, 369 homes sold. That represents 251% of the availabile homes that were for sale!
SCOTTSDALE HOME SALES ACTIVITY – MAY 2021
We track these four sales metrics on a monthly basis:
- Single-family homes for sale - Orange Line - How many homes were for sale at the end of the month.
- Under contract, but accepting backup offers (UCB) - Gray Line - How many homes were in UCB status at the end of the month.*
- Pending home sales - Yellow Line - How many home sales were pending at the end of the month.*
- Home Sales - Blue Line - How many homes sold during the month.
MAY 2021 RESULTS
- Scottsdale Homes for Sale: After rising slightly in April, inventory was down again at the end of May. We continue to see lots of competition, multiple offers and homes selling above asking prices, in some cases, well above.
- UCB (Under contract, accepting backup offers): We saw an 8% dip in UCB contracts between April and May. This is the lowest it has been since last December. I attribute much of this to the small number of homes for sale.
- Pending Homes Sales in Scottsdale: Pending sales fell slightly in May and closed out the month at 412.
- Scottsdale Home Sales: May had the third-highest sales volume of the past year. The month's supply of inventory came in at 0.9. To put it in perspective, a balanced market has about 3-4 months of inventory.
This next section contains two more sales metrics we like to examine:
Percent Change Month Over Month - Here, we are looking at performance from one month to the next. For example, pending sales were down 1.5% between April and May.
Sales Price to List Price - This tracks what homes sold for on average relative to average asking prices. In May, it came in at 99.9%. However, sales prices under $1.5 million actually exceeded asking prices!
*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.
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Originally posted on Live Better in Scottsdale
Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2021. 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 © 2021 Heather Tawes Nelson | Joyce Tawes
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