This is the January 2012 real estate report for Scottsdale AZ luxury homes. In this report, I classify the luxury home market as homes for sale with list prices of $1 million or more. The information is broken into three categories which include Scottsdale luxury homes for sale, pending home sales and completed luxury homes sales over the previous twelve months.
– January 2012 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: We saw a significant jump in inventory in January. Sellers were probably waiting for the new year to put their homes on the market. We are now above the 12 month average and inventory has not been this high since the Spring of 2011.
– Pending Scottsdale Home Sales: Pending home sales at the end of the month were up over November and December, but still trail the 12 month average of 23 pending sales.
– Scottsdale Homes Sold: Home sales were down to 15 in January, based on lower pending figures in January. This is the third lowest sales level we have seen in the last year, although there is some seasonality factored in.
– Sales Price to Listed Price: 87.3% – This was a big drop after seeing this figure solidly in the mid-90%’s ‘for the last two months. However, it is not completely out of line as you review the last 12 months.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: We saw a slight increase in inventory by the end of January to 139. This is just under the 12 month average of 140.
– Pending Scottsdale Home Sales: Pending sales were down again after a nice bump up in December. We are trailing the 12 month average of 13.
– Scottsdale Homes Sold: There was a nice rebound in sales in January, based on a strong December pending figure. Nine homes sold, which is on par with the 12 month average.
– Sales Price to Listed Price: 89.3% – This was a pretty good figure. It is the second highest it has been in the last year.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was actually down by a couple of homes in January, but we are still tracking ahead of the 12 month average of 129.
– Pending Scottsdale Home Sales: Pending sales were up slightly to 4 at the end of January. This is the highest it has been since last July, but we are still below the 12 month average of 5.
– Scottsdale Homes Sold: Three homes sold in this price point in January. The 12 month average is 5 home sales.
– Sales Price to Listed Price: 95.2% – This is the highest this figure has been in a year by far.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale over $3 million jumped into the triple digits again in January to 101. This is the highest it has been since last April. This is also now ahead of the 12 month average of 97.
– Pending Scottsdale Home Sales: Pending sales were up to two at the end of January. This is about where it has been since last summer. The 12 month average is 3.
– Scottsdale Homes Sold: No homes priced at over $3 million sold in January.
– Sales Price to Listed Price: Not applicable.
January 2012 was a mixed month for the Scottsdale luxury home market. Inventory was up almost across the board, although we do expect to see that happen this time of year. Pending sales were reasonably strong in most segments, though we hope to see these improve as we move into the busier season. Sales were also pretty decent with the exception of the two extremes, the $1-$1.5 million range and $3 million and above. It will be interesting to see what February has in store.
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 2/1/2012 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 © 2012 Heather Tawes Nelson
