– Scottsdale AZ Luxury Home Market Performance for March 2015 –
As the high season moved into full swing, the Scottsdale luxury home market had a strong sales month.
This report covers the last 12 months of luxury home sales activities for various price ranges For the purposes of this analysis, I am defining luxury homes as those homes with an asking price in excess of $1 million,
Each of the price ranges contains the following information:
Active – How many homes were for sale at the end of the month.
Pending – How many sales were pending at the end of the month,
Sold – How many homes sold during the month.
– March 2015 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: After many months of inventory increases, the number of homes for sale in this price point dropped by 2.3% to 336.
– Pending Scottsdale Home Sales: Pending sales saw a healthy jump to 32 at the end of the month. This figure has not been this high since last year around this time.
– Scottsdale Homes Sold: The number of home sales increased 14.3% over February to 32. This is well ahead of the 12 month average of 27.
– Sales Price to Listed Price: 93.6% – This is about where this has been trending.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up 5.7% over February to 203. This is the highest it has been in the past year.
– Pending Scottsdale Home Sales: Pending sales saw a 36.4% increase over the previous month. This is a nice jump, but it is not quite to the levels we saw this time last year.
– Scottsdale Homes Sold: Home sales dropped to 8 in March. This is below the 12 month average of 11.
– Sales Price to Listed Price: 93.9% -This is what we have been seeing over the past few months.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory dropped 6% over February in this price point.
– Pending Scottsdale Home Sales: The number of sales pending was up to 13, which is ahead of the 12 month average.
– Scottsdale Homes Sold: Eleven homes sold in March, which is down from February, but is still a strong performance.
– Sales Price to Listed Price: 94.1% – This figure bounces around in the lower 90%’s.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale over $3 million dropped slightly to 155.
– Pending Scottsdale Home Sales: Pending sales were incredible. At the end of the month, there were 12 pending sales, double the 12 month average of 6.
– Scottsdale Homes Sold: Three homes sold in this price range. This is a solid performance, in line with what we have been seeing over the past few months.
– Sales Price to Listed Price: 88.5% – This is a little lower than we have seen in recent months.
March was a great month for the luxury home segment in Scottsdale. All of the price ranges saw good pending and/or sales performance. The $1.5-$2 million price range was not as strong as the others, but has good pending inventory. And, I am looking forward to where sales will come in in the $3 million and up market in April.
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. Search Scottsdale Luxury Homes for Sale
Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2015 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 © 2015 Heather Tawes Nelson | Joyce Tawes
