- Scottsdale Homes for Sale and Home Sales in January 2016 -
As expected, January was a quiet month for Scottsdale real estate. This is something we see annually as buyers take a break over the holidays.
SCOTTSDALE HOME SALES ACTIVITY – JANUARY 2016
Below is a chart that covers the last year of sales of Scottsdale homes. Three things are being tracked:
- Single-family homes for sale are the red line.*
- Pending home sales are the green line.*
- Home Sales are the purple line.
JANUARY 2016 RESULTS
- Scottsdale Homes for Sale: As anticipated, inventory rebounded by the end of the month as sellers put their homes back onto the market for the high season.
- Pending Homes Sales in Scottsdale: Pending sales saw a nice jump of 23.9% to 264 at the end of January.
- Scottsdale Home Sales: Home sales were down significantly (23.4%) in January. Again, this is a seasonal dip as a result of the holidays and end of year.
This next section has two more items that pertain to the Scottsdale real estate market.
The top section is a look at how the three items we are tracking are behaving compared to the previous month's activity. Looking below, you can see that the number of active homes for sale was up 15.8% in January over December.
The bottom section is a measure of how much homes were selling for relative to their asking prices. Or, you could look at it as the average discount buyers saw off of list prices. In January, buyers on average paid 4% less than list price.
Overall, the Scottsdale real estate market had an anticipated slow start to the year. Pendings were up however, so that is better news for February.
*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 2/1/2016 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 January 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 © 2016 Heather Tawes Nelson | Joyce Tawes