– Scottsdale AZ Luxury Home Market Performance for February 2013 –
Below are the luxury home sales results for Scottsdale for the month of February 2013. This report looks at homes with asking prices of $1 million or more and has been divided in to four price bands to give additional detail at the various price points.
Each price band has the following information:
Active – The number of homes on the market at the end of the month.
Pending – The number of pending home sales at the end of the month.
Sold – How many homes sold during the month of February.
– February 2013 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was level between January and February. Only one additional home came onto the marker. However, this figure is still quite a bit ahead of the 12 month average of 181 homes.
– Pending Scottsdale Home Sales: Pending sales saw another nice jump in February to 25. This is ahead of the 12 month average of 22 and indicates that the Spring selling season is underway.
– Scottsdale Homes Sold: Twenty homes sold in February, which was an improvement over January. And based on pending numbers, this should increase again in March.
– Sales Price to Listed Price: 93.3% – This has been trending in the 93% range for the last few months.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory continues to increase in this price segment. At the end of February, there were 148 homes on the market, ahead of the 12 month average of 122.
– Pending Scottsdale Home Sales: We saw another nice increase in pending sales in February to 15. This will ideally continue to increase.
– Scottsdale Homes Sold: There were 15 home sales in February. This is the highest we have seen this figure in the last year.
– Sales Price to Listed Price: 91.7% – This is pretty on par with what we have been seeing for this segment.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: We saw inventory increase about 3.7% over January to 112.
– Pending Scottsdale Home Sales: Pending home sales doubled over January to 10. This is well ahead of the 12 month average and the highest we have seen in the past 12 months.
– Scottsdale Homes Sold: Seven homes sold in February, over three times of what we saw in January.
– Sales Price to Listed Price: 93.8% – This is the highest we have seen in several months.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory is at the highest level we have seen in the last year.
– Pending Scottsdale Home Sales: There were three pending home sales at the end of the month, putting it just ahead of the 12 month average.
– Scottsdale Homes Sold: Two homes sold in February.
– Sales Price to Listed Price: 92.3% – This is the second highest we have seen this ratio in the last year.
The month of February 2013 was a good one for the luxury home market in Scottsdale. Pending and actual sales gained a lot of ground over a quieter January and show promise that March will be another good month.
To see more detailed data behind this report, please visit my Scottsdale Luxury Home Market Reports page and click on the “Scottsdale Market Trends” downloadable report.
Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2013 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