Here are December’s numbers the Scottsdale AZ luxury home market. This analysis looks at single-family resale homes in Scottsdale with list prices of $1,000,000 and above over the last twelve months.
– December 2009 –
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 241 active homes on the market at the end of December. This figure has been decreasing for the last two months. The 12 month average for active homes is 434.
– Pendings: Seventeen homes were pending at the end of the month. This was a significant drop off (29.2%) from November when there were 24 pendings. This number is well behind the 12 month average of 28.
– Sold: Only 18 homes sold in December, the lowest amount since July of 2009. The 12 month average for sales in this price segment is 20.
– Sales Price to Listed Price: 88.3% – This is on the low side for this figure. It typically stays in the high-80%’s to low-90%’s.
Homes Priced Between $1,500,000 – $1,999,999
– Actives: There were 230 homes on the market in this price range, a 5% drop after two months of increases. The 12 month average is 260.
– Pendings: There were 20 pending sales, which is the highest amount of pendings seen in the last 12 months. The average over the last 12 months is 14.
– Sold: Sales were also strong this month with 13, a 62.5% increase over November’s 8. This is the highest this number has been since July of 2009. The 12 month average is 9.
– Sales Price to Listed Price: 87.0% – This number is pretty representative for this price range. We did have two consecutive months in the low 90%’s, but we are now back into the 80%’s.
Homes Priced Between $2,000,000 – $2,999,999
– Actives: Actives were down to 238 at the end of December, ending a four month increase in inventory for this segment. The 12 month average is 283.
– Pendings: Eleven homes were pending, which is the second highest this figure has been in the last year, which was 12 in June. This tracks well ahead of the 12 month average of 8.
– Sold: There were six home sales, which was a decent showing for the end of the year. The 12 month average is 5.
– Sales Price to Listed Price: 85.8% – This is the lowest this figure has been since July. Over the last several months, this number was in the low 90%’s and high 80%’s.
Homes Priced $3,000,000+
– Actives: 143 homes priced in excess of $3M were on the market at the end of December. This was a 7.7% drop over November. The 12 month average is 194.
– Pendings: Three homes were pending, which is a major improvement over November’s single pending sale. The 12 month average is 4.
– Sold: Only one home sold in December in this price range. The 12 month average is 3.
– Sales Price to Listed Price: 87.7% -This is the second highest this ratio has been in the last year. Only June, with 90.7% did better.
As you can see, performance between the different segments varied in December. The lowest priced segment ($1,000,000-$1,499,999) performed poorly and the highest priced segment ($3,000,000+) did well on pendings, but poorly on sales. The two price ranges in the middle had strong performances to finish out the year. Inventory is down, but some of that can be attributed to the large number of listings that expired at the end of the year.
To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the “Scottsdale Market Trends” report. For other information on the Scottsdale real estate market and the surrounding areas, please visit my Real Estate Market Reports page.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 © 2009 Heather Tawes Nelson
