– Scottsdale AZ Luxury Home Market Performance for September 2016 –
September saw sales slow slightly in the under $2 million range, but home sales above that were stronger.
This report provides an overview of the sales activity in the Scottsdale luxury home market. All of the homes are priced a $1 million or more. And to show additional detail, this activity has been split into four price ranges.
Active – How many homes were for sale at the end of the month.
Pending – How many pending sales there were at the end of the month.
Sold – How many homes sold over the month.
– SEPTEMBER 2016 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up almost 10% over August. We typically see this stay somewhat level during the slower months, but it is still lower than the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were up by one to 21 at the end of the month.
– Scottsdale Homes Sold: Home sales slipped 12% to 29, but this is still ahead of the 12 month average of 26.
– Sales Price to Listed Price: 93.6% – On average, buyers saw a discount off of list price of 6.4%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory in this price point jumped over 20% between August and September, putting it close to the 12 month average of 193.
– Pending Scottsdale Home Sales: Pending sales fell by one to nine.
– Scottsdale Homes Sold: Sales fell to seven, which is the lowest we have seen since October of 2015.
– Sales Price to Listed Price: 93.2% – On average, buyers saw a discount off of list price of 6.8%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was up again in this price point, coming in at 140 at the end of September.
– Pending Scottsdale Home Sales: Pending sales dropped to the lowest level we have seen since January 2016. This will impact sales numbers in October.
– Scottsdale Homes Sold: Sales saw a huge jump to nine, tripling sales in August. This is also ahead of the 12 month average of eight.
– Sales Price to Listed Price: 96.1% – On average, buyers saw a discount off of list price of 3.9%. This is much higher than it has been.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory increased almost 14% month over month. That is a large jump for this price point.
– Pending Scottsdale Home Sales: Pending sales came it at five, about what we would expect this time of year.
– Scottsdale Homes Sold: There were four home sales, which is on par with the 12 month sales average.
– Sales Price to Listed Price: 97.2% – On average, buyers saw a discount off of list price of 2.8%. This is also much higher than it usually it.
September was a decent month for luxury home sales in Scottsdale, particularly in the higher-priced segments.
If you would like additional detail on home sales activity, please visit our 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 10/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes
