- January 2024 Scottsdale Homes for Sale and Home Sales -
We are one month into 2024 and things are definitely changing in the Scottsdale real estate market! Inventory is up as are new contract totals. .
SCOTTSDALE HOME SALES ACTIVITY – JANUARY 2024
Each month, we look at the following four items:
- Single-family homes for sale - Orange Line - How many homes were for sale at the end the 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 - How many pendings there were at the end of the month.*
- Home Sales - Blue Line - How many homes sold that month.
JANUARY 2024 RESULTS
- Scottsdale Homes for Sale: The number of homes for sale at the end of January moved up to the highest level we have seen in the past year. This is good news for buyers as there is more inventory to choose from.
- UCB (Under contract, accepting backup offers): UCB contracts were up quite a bit in January. We typically see this as many folks put their real estate plans on hold during the holidays and wait until the new year.
- Pending Homes Sales in Scottsdale: The number of pending contracts increased 31.8% over December.
- Scottsdale Home Sales: The number of homes that sold in January was the lowest we have seen in the past twelve months. Again, this is seasonal as we were coming off of the holidays and fewer people were shopping for homes.
This next section contains two more items we track to keep an eye on the market. The first looks at changes month-over-month and the second looks at sales prices relative to listing prices.
Percent Change Month Over Month - Here, we looking at how things changed when compared to the previous month. For example, pending sales were up by an impressive 41.5% when compared to December. (To be fair though, December tends to be a quieter month for contract activity because of the holidays.)
Sales Price to List Price - This metric takes the average price of homes for sale and then compares that to the average price of what actually sold for. January came in at 96.7%, which means the average discount buyers saw off of list price was 3.3%.
*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 2/1/2024. 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 © 2024 Heather Tawes Nelson | Joyce Tawes
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