- August 2018 Scottsdale Homes for Sale and Home Sales -
August's sales numbers for Scottsdale real estate are in the books. It was a quieter month as we typically see late summer, but there were a few spots where we saw strong activity.
SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2018
Each month, we look at and track four different things related to Scottsdale real estate.
- Single-family homes for sale - How many homes were for sale at the end of the month is shown with the orange line.*
- Under contract, but accepting backup offers (UCB) - How many homes were in UCB status at the end of the month is shown with the grey line.*
- Pending home sales - How many home sales were pending at the end of the month is shown with the yellow line.*
- Home Sales - How many homes closed over the course of the month.
AUGUST 2018 RESULTS
- Scottsdale Homes for Sale: Inventory actually was up slightly in August to 1,491. This could be attributed to the slight decline in sales.
- UCB (Under contract, accepting backup offers): Homes in UCB status fell marginally from 239 to 222 by the end of the month.
- Pending Homes Sales in Scottsdale: Pending home saw a 12.6% decrease compared to the end of July. They closed out the month at 250.
- Scottsdale Home Sales: Home sales were down again, as expected. There were 427 home sales in August.
The following data includes a couple of additional items we track monthly.
First, we look at how things are changing in comparison to the previous month. As you can see above, sales were down 8% at the end of August compared to the end of July.
Second, we take a look at something called 'Sales Price to List Price.' This is a quick snapshot to gauge home listing prices relative to their sold prices. In August, it came in at 95.7% - i.e. on average, homes sold for 95.7% of their asking prices.
August ended where we would expect it to be, slightly slower than July.
*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 9/1/2018. 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 © 2018 Heather Tawes Nelson | Joyce Tawes
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