– December 2010 Luxury Home Sales –
Here are the figures for December 2010 on the luxury home market in Scottsdale, Arizona. This is a monthly report that looks at luxury homes sales activity in Scottsdale where the homes have asking prices over $1 million. The last 12 months of resale data are included in this analysis.
– December 2010 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: At the end of December, there were 269 homes for sale in this price point. This was down slightly over November and is tracking behind the 12 month average of 307.
– Pending Scottsdale Home Sales: Seventeen homes were pending at the end of the month. While this is a big drop over November, we see this trend seasonally as buyers typically do not go under contract with the same frequency in December. The 12 month average for this price segment is 24.
– Scottsdale Homes Sold: There were 26 home sales in December, which was the second best performance we saw in the last year. Eighteen is the average monthly sales figure for the last 12 months.
– Sales Price to Listed Price: 88.4% – This is pretty typical for this figure which stays in the high 80%’s and low 90%’s.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: 168 homes were on the market at the end of the month, which is the same as what we saw at the end of November. The 12 month average is 194.
– Pending Scottsdale Home Sales: Only 9 homes were pending at the end of the month. Again, seasonality is coming into play. The 12 month average for pending sales is 15.
– Scottsdale Homes Sold: There were 5 home sales in December, the same as we saw in November. After a strong start to the year, sales activity tapered off in the last half. The 12 month average is 9.
– Sales Price to Listed Price: 92.7% – This is on the higher end of typical as sellers are getting closer to their asking prices for their homes.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: 160 homes were for sale in this price range. This is down one from November and is below the 12 month average of 176.
– Pending Scottsdale Home Sales: Eight homes were pending sale, which is on par with the 12 month average.
– Scottsdale Homes Sold: There were eight home sales in December, which is the best we have seen since June. This figure is also ahead of the 12 month average of 7.
– Sales Price to Listed Price: 86.9% – This number fluctuates a lot, but this is a pretty typical ratio for this price segment.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: There were 110 homes for sale at the end of December, below the 12 month average of 122.
– Pending Scottsdale Home Sales: Pending sales saw a large drop to 2, down from 7 in November. The 12 month average is 4.
– Scottsdale Homes Sold: Seven homes sold in excess of $3 million in December. This is the best performance we have seen all year and it is more than double the 12 month average of 3.
– Sales Price to Listed Price: 86.4% – This is pretty good for this segment. Buyers still got a decent discount off of asking price, but not as large as seen in previous months.
Overall, December was a decent month for the Scottsdale AZ luxury real estate market. Due to strong pending numbers in November, we saw some really good sales results in December. Inventory decreased or stayed level in all categories. Pending sales were more or less down in December, which is a seasonal pattern we see. This means January 2011 sales figures will likely be weak.
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.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2011 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 © 2011 Heather Tawes Nelson
