– Scottsdale AZ Luxury Home Market Performance for September 2014 –
The luxury home market in Scottsdale had a mixed month. Inventory began to rise again and pending sales tapered off, but for some price points, September was a great sales month.
This report tracks the performance of Scottsdale’s luxury home sales. The home sales data has been broken into four smaller price bands to show additional detail.
Each of the price bands contains data for the previous 12 months of the following sales statuses:
Active – How many homes were on the market at the end of the month.
Pending – How many homes were pending sale at the end of the month.
Sold – How many homes sold over the course of the month.
– September 2014 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up 10% over August to 254. This is just ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales dipped slightly to 21, down two from the previous month.
– Scottsdale Homes Sold: There were 17 sales in September, up one from August, but still well below the 12 month average of 27 sales.
– Sales Price to Listed Price: 93.8% – This is a little lower than we have been seeing in recent months, but is still solid.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory in this price range was up 7.7% over August to 126.
– Pending Scottsdale Home Sales: Pending sales dropped dramatically to 8. This is by far the lowest we have seen in the past year.
– Scottsdale Homes Sold: However, there were an impressive 13 home sales in September, which puts it ahead of the 12 month average.
– Sales Price to Listed Price: 96.9% – This is about where this has been trending.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: There was a 16.2% jump in inventory in this price segment over last month.
– Pending Scottsdale Home Sales: Pending sales were off slightly to nine, which is below the twelve month average of 12.
– Scottsdale Homes Sold: Seven homes sold in September, which is what we saw in August. This is above the 12 month average, so it is a solid performance.
– Sales Price to Listed Price: 90.6% – This is lower than we have been seeing in recent months.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: As we have seen in all of the price points, inventory was up over August.
– Pending Scottsdale Home Sales: For the second month in a row, only three homes were under contract. This is the lowest it has been in the last 12 months.
– Scottsdale Homes Sold: Three homes sold in September, which is on par with the 12 month average.
– Sales Price to Listed Price: 86.0% – This is lower than we have been seeing.
September was another mixed performance month for Scottsdale luxury homes. Sales were pretty decent in most price points, and excellent in some. However the inventory creep and decline or leveling off of pending sales could make for a poor October.
If you would like additional detail on home sales activity, please visit my Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.
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Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2014 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 © 2014 Heather Tawes Nelson | Joyce Tawes
