Below are the results for the luxury home market in Scottsdale Arizona during the month of August 2012. I have segmented the luxury market into four price points so that you can see how each of them is performing.
You will see monthly data for three different home sales statuses:
Active- These are luxury homes for sale in Scottsdale as of August 31, 2012
Pending – These are luxury homes that were under contract as of August 31, 2012
Sold – Luxury homes that sold in Scottsdale during August 2012
– August 2012 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes on the market increased by one in August to 156. This is still below the 12 month average of 190.
– Pending Scottsdale Home Sales: Pending sales saw a nice rebound in August to 22, which puts it on par with the 12 month average.
– Scottsdale Homes Sold: Sales in August stayed the same as July at 18, below the 12 month average.
– Sales Price to Listed Price: 94.9% – This is the strongest we have seen this number since February of 2012.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes on the market in this price point dropped below 100 for the first time in a year. Inventory has been dropping monthly since February.
– Pending Scottsdale Home Sales: Pending sales were more or less flat with 10 at the end the on the month. This is just below the 12 month average of 11.
– Scottsdale Homes Sold: Eight homes sold in August, which is on par with the 12 month average sales figure.
– Sales Price to Listed Price: 89.0% – This is pretty consistent with what we have been seeing for this price range.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Homes in this segment for sale also dropped under the 100 mark in August, making it the lowest inventory we have seen in a year. This is well below the 12 month average of 128.
– Pending Scottsdale Home Sales: There was a slight increase in pending sales to 6 at the end of the month. We have been seeing this float in the 5 and 6 range since May.
– Scottsdale Homes Sold: Six homes sold in August, the highest we have seen since May. This is also just ahead of the 12 month average of 5.
– Sales Price to Listed Price: 87.6% – This is quite a bit lower tan we have been seeing recently. This is more in line with the discounts we saw in the late summer of 2011.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: At the end of the month, 76 homes were for sale above $3 million in Scottsdale. This is the lowest it has been in a year.
– Pending Scottsdale Home Sales: Pending sales jumped to three in August, which is nice news after 2 months of no pending sales in this price point.
– Scottsdale Homes Sold: Two homes sold in August, which is positive as there were not any pending sales as we entered the month.
– Sales Price to Listed Price: 86.6% – This is about where we have been seeing this figure.
The Scottsdale AZ luxury home market had a decent August 2012. We saw good movement in the $1-$1.5 million and over $3 million price ranges. The other two price points stayed pretty much on course from the month before. Pending figures improved or stayed level in August and inventory declined in 3 of the 4 segments. Based on pending figures, September should be another decent month.
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 9/1/2012 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
[…] Scottsdale Homes Priced Between $2,000,000 – $2,999,999 – Active Scottsdale Homes on the Market: Inventory increased in this price segment as well, putting it back over the 100 mark. However, it is still well below the 12 month average of 124 homes. – Pending Scottsdale Home Sales: Pending sales were disappointing at 3, although we did see this kind of decreased activity around this time of year last year as well. – Scottsdale Homes Sold: On the flip side, home sales saw a great rebound in October. There were 6 sales, which came in ahead of the twelve month average of 5. – Sales Price to Listed Price: 76.0 […]