Here are the figures for March 2010’s luxury home sales in Scottsdale AZ. This analysis defines the luxury home market as single-family resale homes in Scottsdale priced at $1,000,000 and above and looks at a time period covering the last 12 months.
– March 2010 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Actives: At the end of March, there were 384 active homes on the market in this price point. This number has been increasing since December when there were 341 homes on the market. This comes in just under the 12 month average of 388 homes for sale.
– Pendings: Pending sales were down from February to 24, although February’s 32 was the highest we have seen this number since August of 2009. This is trailing behind the 12 month average of 29 pending home sales in Scottsdale.
– Sold: Twenty-five homes sold in March, which was a strong performance. The last time we saw a figure this high was in September of 2009 when there were 29 home sales. This number is ahead of the 12 month average of 21 home sales.
– Sales Price to Listed Price: 88.9% – This is pretty standard for this figure.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Actives: There were 237 homes for sale at the end of March, down slightly from February’s 240. The 12 month average is 246 homes for sale, so we are slightly under that.
– Pendings: Seventeen homes were pending at the end of the month, which is lower than the last four months. The 12 month average for pending sales in this price point is also 17.
– Sold: March was the best performance this segment has seen in the last 12 months. There were 16 home sales, a 166% increase over February’s 10 sales. The 12 month average for home sales is 10.
– Sales Price to Listed Price: 88.6% – This is the highest this ratio has been this year.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Actives: Active Scottsdale homes for sale in this segment continue to drop. This figure has been decreasing since November of 2009 and is now down to 207 active homes. The 12 month average is 248.
– Pendings: Only six homes were pending at the end of the month, which was a very poor performance. The last time we saw pending sales this low was August of 2009. The 12 month average for pending home sales in this segment is 9.
– Sold: Ten homes sold in March, which continues a three month trend of strong home sales numbers. It was down one sale from February’s 11 sales, but well ahead of the 12 month average of 6.
– Sales Price to Listed Price: 87.9% – This is the highest this ratio has been this year.
Scottsdale Homes Priced $3,000,000+
– Actives: There were 134 homes for sale in Scottsdale in excess of $3 million at the end of the month. This figure has been decreasing since January and is well below the 12 month average of 163.
– Pendings: Four homes were pending at the end of the month, which is a major improvement over the zero pending sales at the end of February. The 12 month average is 3 pending sales.
– Sold: Two homes sold in March, which is excellent news as there were zero pending sales at the end of the prior month. This is slightly behind the 12 month average of 3 home sales.
– Sales Price to Listed Price: 86.9% – This is a pretty good result for this ratio and is the highest it has been all year.
Overall, March was a decent month for the Scottsdale AZ luxury home market. For the most part, inventory is down and sales were strong. There are a few pending sales issues in some of the price segments which may be a concern for April home sales activity though.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2010 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 © 2010 Heather Tawes Nelson
