- January 2023 Scottsdale Homes for Sale and Home Sales -
Welcome to the first month of home sales results for Scottsdale in 2023. Since we are coming off almost two months of holidays, January tends to be a very slow month for sales, but we often see an uptick in new contract activity.
SCOTTSDALE HOME SALES ACTIVITY – JANUARY 2023
We track the following sales metrics on a monthly basis to get a sense of any trends.
- 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 pending contracts there were at the end of the month.*
- Home Sales - Blue Line - The number of home sales that month.
JANUARY 2023 RESULTS
- Scottsdale Homes for Sale: As I suggested last month, we were planning on the number of homes for sale to rebound in January. Many folks take their homes off of the market during the holidays or wait until the new year to list them. This January was no different as we bounced back up into the 1,000+ range.
- UCB (Under contract, accepting backup offers): After a few rough months for UCBs, we finally saw then head back into ranges we saw last summer. As we get further into the high season, I anticipate UCB figures to rise.
- Pending Homes Sales in Scottsdale: Pendings also had a couple of rough months. Pending sales were up at the end of January, but we have a little bit to go before we hit summertime 2022 levels.
- Scottsdale Home Sales: Home sales hit their lowest point of the year in December. While this is quite a bit lower than we saw last year at this time, the much lower number of UCBs and pendings based on seasonality had an impact.
Here are two more sales metrics we track for the Scottsdale real estate market:
Percent Change Month Over Month - Here, we are looking at the most recent month's performance as compared to the month before. As you can see, active listings, UCBs and pendings were all up, but sales fell off by 15% between December and January.
Sales Price to List Price - This is a high-level gauge to see how listing prices and sales prices are lining up. In January, it came in at 95.6%. That means on average, buyers saw a 4.4% discount on 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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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2023. 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 © 2023 Heather Tawes Nelson | Joyce Tawes
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