- January 2020 Scottsdale Homes for Sale and Home Sales -
January is typically a slow sales month as people do not tend to shop for homes over the holidays and this January fits that pattern. However, we saw a nice uptick in pending contracts over the course of the month.
SCOTTSDALE HOME SALES ACTIVITY – JANUARY 2020
We look at these four sales metrics on a monthly basis:
- Single-family homes for sale - Orange Line - The number of homes on the market at the end of the month.*
- Under contract, but accepting backup offers (UCB) - Gray Line - The number of homes in UCB status at the end of the month.*
- Pending home sales - Yellow Line - How many pending sales there were at the end of the month.*
- Home Sales - Blue Line - The number of homes that closed during the month.
JANUARY 2020 RESULTS
- Scottsdale Homes for Sale: The number of homes for sale was down slightly at the end of January. Usually, we see this number increase as people wait until the beginning of the year to put their homes onto the market. Plus, new inventory could have been absorbed by the increase in UCBs and Pendings.
- UCB (Under contract, accepting backup offers): The number of UCBs jumped an impressive 63.4% between the end of December and the end of January to close out at 299.
- Pending Homes Sales in Scottsdale: We also saw an increase in pending sales in January, which bodes well for February sales figures.
- Scottsdale Home Sales: As expected, sales fell in December. There were 326 sales and the monthly average over the past year was 452 sales per month.
In this next section, we have included two more metrics we use to track the Scottsdale real estate market.
The first metric is Percent Change Month Over Month, which compares performance between the two months. For example, the number of pending sales was up 27.1% between December and January.
The second metric is Sales Price to List Price. Here, we are looking at what homes sold for versus what they had been on the market for. In January, it came in at 96.8%. So on average, buyers saw a discount of 3.2% off of asking prices in January.
*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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Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.
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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 1/1/2020. 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 © 2020 Heather Tawes Nelson | Joyce Tawes
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