– Scottsdale AZ Luxury Home Market Performance for November 2015 –
The month of November was a pretty decent one for the Scottsdale luxury home market. For the most part, pending sales were trending up and we saw solid sales activity.
This analysis tracks the previous twelve months of sales data for the luxury market. Because sales activity can differ quite a bit based on asking price, I have divided the report into four luxury price bands.
Within each of the price bands, you will find the following data.
Active – How many homes were on the market at the end of the month.
Pending – How many pending sales there were at the end of the month.
Sold – How many homes sold during the month.
– NOVEMBER 2015 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: After a significant rise in inventory over the past several months, we finally saw it level off by the end of November.
– Pending Scottsdale Home Sales: Pending sales were up 20% to 24 by the end of the month. This is on par with the 12 month average.
– Scottsdale Homes Sold: Sales were off by one to nineteen. This is well below the 12 month average of 26.
– Sales Price to Listed Price: 93.8% – This is on target with what we have been seeing.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up slightly over October to 172, putting it over the 12 month average.
– Pending Scottsdale Home Sales: Pending were up to fifteen, which is a strong performance, especially for this time of year.
– Scottsdale Homes Sold: Ten homes sold in November. Another strong performance.
– Sales Price to Listed Price: 94.8% – This is a solid figure.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was up 8.5%, continuing several months of increases. This is well above the 12 month average of 164.
– Pending Scottsdale Home Sales: Ten homes were pending at the end of the month. This is a strong performance for November.
– Scottsdale Homes Sold: Only three homes sold, which is half of the 12 month average. However, with a large pending figure, I hope to see this number increase in December.
– Sales Price to Listed Price: 93.0% – This is on track with what we have been seeing.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was down slightly after two months of increases.
– Pending Scottsdale Home Sales: Pending sales remained at 5 for the fifth month in a row.
– Scottsdale Homes Sold: Sales jumped in November to five. This is a strong performance and is above the 12 month average of four.
– Sales Price to Listed Price: 89.3% – This figure fluctuates a bit.
November was a good month for Scottsdale’s luxury home market. Inventory started to stabilize in most cases and pending sales were strong in almost all of the price points. And, as alluded to at the beginning of this report, sales activity was solid.
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 12/1/2015 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There November 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
