- August 2019 Scottsdale Homes for Sale and Home Sales -
August was an interesting month. Sales activity dipped slightly, as did inventory. But, there were certain segments of the market that performed very well.
For instance, the Percentage of Homes Sold vs. Homes Listed shows how home sales stacked up to the current inventory of homes for sale. This metric came in at an impressive 61.8% on homes with list prices under $1 million. This is the highest we have seen in the past year and it illustrates the large demand for lower-priced homes.
SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2019
There are four sales figures we track each month.
- Single-family homes for sale - Orange Line - The inventory of homes for sale at the end of the month.*
- Under contract, but accepting backup offers (UCB) - Gray Line - The number of UCB contracts there were at the end of the month.*
- Pending home sales - Yellow Line - The number of pending sales at the end of the month.*
- Home Sales - Blue Line - How many homes sold during the month.
AUGUST 2019 RESULTS
August is a seasonally slow month for Scottsdale. Inventory tends to decrease, as well as sales and pending sales.
- Scottsdale Homes for Sale: The number of homes on the market fell 4.6% between the end of July and August. This is the lowest level we have seen in the past year.
- UCB (Under contract, accepting backup offers): The number of UCB contracts fell slightly to close out the month at 243.
- Pending Homes Sales in Scottsdale: The number of pending sales stayed level with July.
- Scottsdale Home Sales: There were 449 home sales in August, down 5.5% from July. The sales activity pace is slightly higher than it was at the same time last year.
This next part includes two more sales metrics that we follow:
On the top, you will see how each of the items performed relative to the previous month. For example, UBC homes were down 6.2% at the end of August compared to July.
The next section gives you an idea of home prices versus what they homes ended up selling for. In August, it was 96.6% That means on average, sellers came off of their list prices by 3.4%.
*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 9/1/2019. 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 © 2019 Heather Tawes Nelson | Joyce Tawes