-August 2022 Scottsdale Homes for Sale and Home Sales -
Although inventory has jumped over the past several months, it was down at the end of the month. Sales were up after a slow July.
SCOTTSDALE HOME SALES ACTIVITY – AUGUST 2022
Each month, we track the following sales metrics:
- Single-family homes for sale - Orange Line - The number of homes on the marlet at the end of the month.
- Under contract, but accepting backup offers (UCB) - Gray Line - The number of UCB contracts at the end of the month.*
- Pending home sales - Yellow Line - The number of pendings there were at the end of the month.*
- Home Sales - Blue Line - The number of home sales for that month.
AUGUST 2022 RESULTS
- Scottsdale Homes for Sale: The number of homes for sale fell 3.5% between the end of July and the end of August. However, there is still plenty of inventory compared to where we were earlier this year.
- UCB (Under contract, accepting backup offers): The number of UCBs was up very slightly in August, closing out at 151.
- Pending Homes Sales in Scottsdale: Pending fell slightly in August, coming in at the lowest level we have seen in the past year.
- Scottsdale Home Sales: The number of homes that sold rebounded a bit in August, which is positive news.
This next section contains two more metrics we track monthly.
Percent Change Month Over Month - This metric compares the monthly performance to the previous month and helps you see trends over time. For example, in August home sales were up 15.8% when compared to July's performance.
Sales Price to List Price - This is a quick way to gauge pricing trends. This metric compares what homes sold for in relation to what they were listed for. In August, it was 94.8%, the lowest it has been in the past year. Looking at it another way, buyers on average saw a 5.2% discount off of asking prices. Compare that to February through May when buyers were paying a premium over list on average.
*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 9/1/2022. 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.
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