- Scottsdale AZ Luxury Home Market Performance for December 2012 -
This is the final market report of 2012 for the Scottsdale Arizona luxury home market. This report looks at sales activity for homes with list prices over $1 million and breaks it into several price range categories for more detailed analysis.
Each of the price ranges will include the following home sales information:
Active- The number of homes for sale the end of the month.
Pending - The number of homes under contract at the end of the month.
Sold – The number of completed homes sales during the month.
- December 2012 -
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale dropped slightly at the end of the month to 173, in part due to home listings expiring at the end of the year.
– Pending Scottsdale Home Sales: Pending home sales were down quite a bit in December, to 16. The 12 month average for this is 22 homes.
- Scottsdale Homes Sold: Sales held steady at 21 in December. This is right on track with the 12 month average and was a nice way to end the year.
– Sales Price to Listed Price: 93.4% – This is a solid number and is more or less where this has been tracking in the latter part of the year.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory in this price point was up again for the fourth month in a row.
– Pending Scottsdale Home Sales: Pending sales dropped off to the lowest we have seen since February of 2012.
- Scottsdale Homes Sold: Eleven homes sold again in December, which was another good showing and ahead of the 12 month average of 9.
– Sales Price to Listed Price: 93.3% – This is about where this figure has been for the last few months.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale dropped by the end of the month to 104. Again, I would attribute some of this to listings expiring at the end of the year.
– Pending Scottsdale Home Sales: Pending home sales dropped sharply to only a single home under contract. This is well below the 12 month average of 6 pending sales.
- Scottsdale Homes Sold: In contrast, there were six sales in December, a strong figure to end the year.
– Sales Price to Listed Price: 88.6% – This is lower than we have been seeing over the past couple of months.
Scottsdale Homes Priced $3,000,000+
- Active Scottsdale Homes on the Market: Inventory was up slightly to 105. This is well ahead of the 12 month average of 92 homes for sale.
– Pending Scottsdale Home Sales: There were two pending sales at December’s end, which is right on track with the 12 month average of 2.
- Scottsdale Homes Sold: This price point had a great sales month with 4 homes sold. This is the second highest we have seen this all year.
– Sales Price to Listed Price: 91.1% – This is a strong figure for this price point and was the second highest it has been in 2012.
The Scottsdale luxury home market had a mixed month in December. Inventory levels were mixed and some price points saw decreases due to expiring listings at the end of the year. Pending sales were down in most price segments, which means January sales figures will be impacted. On a more positive note, sales held their own in the lower price points and did well in the higher ones.
To see more detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the “Scottsdale Market Trends” report.
Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2013 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson