Here are the performance numbers for the Scottsdale AZ luxury home market for September 2009. This analysis looks at single-family resale homes in Scottsdale with list prices of $1,000,000 or more.
September saw mixed results for the various price points. Inventory has been going up slightly for some of the price points, which is not something we want to see. However, some of the price segments had great months in terms of pending sales and sales.
-September 2009 –
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 384 active homes for sale at the end of September. This is up 4.9% over August, ending a month over month decline that started in February of this year. 12 Month Average: 478
– Pendings: Pending sales dropped significantly over August’s 40 to 23. This represents a 42.5% drop. 12 Month Average: 26 per month.
– Sold: On a more positive note, there were 29 home sales in September, up 38.1% over August. 12 Month Average: 17 sales per month.
– Sales Price to Listed Price: 93.9% – This is the highest this ratio has been over the last 12 months.
Homes Priced Between $1,500,000 – $1,999,999
– Actives: At the end of September, there were 212 homes for sale, down from August’s 241. 12 Month Average: 275
– Pendings: Twenty three homes were pending at the end of the month. This is up 35.3% over August’s 17. 12 Month Average: 12 per month.
– Sold: September was a good month for home sales in this price point, with 10 sales. 12 Month Average: 8 sales per month.
– Sales Price to Listed Price: 86.9% – This is a pretty typical number for this ratio.
Homes Priced Between $2,000,000 – $2,999,999
– Actives: There were 227 homes for sale in this price point at the end of September, up from 222 at the end of August. This is the first time this number has increased since February of this year. 12 Month Average: 312
– Pendings: Pending sales were right on par with the average of 7. 12 Month Average: 7 per month.
– Sold: Only four homes sold in this price point in September, which is behind the 12 month average of 5. 12 Month Average: 5 per month.
– Sales Price to Listed Price: 87.3% – This is pretty typical for this price range.
Homes Priced $3,000,000+
– Actives: The number of homes for sale over $3,000,000 went up in September to 155. This is the first time this number has increased since November of 2008. 12 Month Average: 227
– Pendings: There were three homes were pending at the end of the month, far off of the 12 month average of 5. 12 Month Average: 5 per month.
– Sold: There were no sales for over $3,000,000 in the month of September. This is the first time that has happened since I started tracking this information in September of 2007. 12 Month Average: 3 per month.
– Sales Price to Listed Price: Not applicable.
As you can see, the results vary quite a bit between the price points. The $1.5M -$2M price point performed the best, while the others had mixed results. The poor performers in September were the $1M-$1.5M price range and the $3M+ price range.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale over the preceding 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
