- March 2024 Scottsdale Homes for Sale and Home Sales -
Now that it is the high season, we are seeing lots of sales activity in Scottsdale. Inventory, contracts and sales were all up.
SCOTTSDALE HOME SALES ACTIVITY – MARCH 2024
Each month, we look at the following four items related to home sales:
- Single-family homes for sale - Orange Line - How many homes were on the market 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 - How many pending sales there were at the end of the month.*
- Home Sales - Blue Line - How many homes sold during the month.
MARCH 2024 RESULTS
- Scottsdale Homes for Sale: Inventory fell slightly by the end of the month. However, the fact that there are generally more homes on the market is good news for buyers.
- UCB (Under contract, accepting backup offers): At the end of the month, Scottsdale posted its highest number of UCB contracts in the past year. This figure was up 11.8% over February.
- Pending Homes Sales in Scottsdale: The number of pending sales increased for the third month in a row. We are still at a lower level than we were at a similar time last year, but with the contracts in the pipeline, we may see a bump up in April.
- Scottsdale Home Sales: The number of homes sold was up again in March. We closed out the month with 345 home sales.
This next section includes two more sales metrics we track:
Percent Change Month Over Month - In this report, each of the four sales metrics we are tracking are compared to the previous month. As an example, the number of UCB contracts was up 11.8% compared to February.
Sales Price to List Price - This report looks at what homes are selling for on average compared to their average list prices. In March, it was 96.8%, which means on average buyers saw a discount of 3.2% off of list price.
*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 4/1/2024. 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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