- July 2016 Scottsdale Homes for Sale and Home Sales -
Home sales in Scottsdale cooled down in July after several very strong months of sales. However, pending sales were up slightly which is good news for August.
SCOTTSDALE HOME SALES ACTIVITY – JULY 2016
Below is a graphic that charts home sales activity over the past year. It looks at three data points:
- Single-family homes for sale are shown on the red line.*
- Pending home sales are shown on the green line.*
- Home Sales are shown on the purple line.
JULY 2016 RESULTS
- Scottsdale Homes for Sale: The number of homes om the market decreased again to under 2,000. This is the lowest it has been since September 2015 and reflects seasonal patterns.
- Pending Homes Sales in Scottsdale: Pending sales were up 2.6% over June to 317.
- Scottsdale Home Sales: After our highest sales month in June, sales dropped over 25% to 378 in July. While it may seem like a large drop, it is in line with the seasonal slowdown we see in the Scottsdale market.
This next section looks at two more items related to the Scottsdale real estate market.
The top section measures how actives, pendings and solds changed relative to the month before. So, for example, the number of homes for sale at the end of July was down 9% when compared to the end of June.
The lower section measures the difference between sales and asking prices. In July, home buyers on average purchased homes for 95.3% of their list prices.
July was a transition month for Scottsdale home sales, especially after coming off of such a strong June. However, pendings were up a little bit by the end of the month, which will help August's home sales figures.
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Originally posted on Live Better in Scottsdale
*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 8/1/2016 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 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 © 2016 Heather Tawes Nelson | Joyce Tawes
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