– Scottsdale AZ Luxury Home Market Performance for January 2017 –
This report looks at the luxury home market in Scottsdale, using data from the previous 12 months.
As expected, January was a quieter month. However, sales activity was still solid, if muted.
To show more detail, I have broken the information out into four price bands. Each price band will contain the following sales information:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – This is a new metric that I am adding to the analysis going forward. Many homes go under contract but the sellers want to continue to accept backup offers in case the deal falls through. In that case, the home is placed into UCB status. The UCB number is how many homes were in this status at the end of the month.
Pending – How many pending sales there were at the end of the month.
Sold – The number of homes sold that month.
– JANUARY 2017 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up 9.2% at the end of the month as sellers put their homes on the market in time for the new year.
– Pending Scottsdale Home Sales: Pending sales were level at 22. This has been trending in this range since August 2016.
– Scottsdale Homes Sold: Twenty-seven homes sold in January, a decrease of 25% over December. However, sales only came in slightly lower than the 12-month average.
– Sales Price to Listed Price: 94.5% – On average, buyers saw a discount off of list price of 5.4%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale was up 8.9% in this price point at the end of January.
– Pending Scottsdale Home Sales: Pending sales dropped off to six in January. This is the lowest we have seen in the last 12 months.
– Scottsdale Homes Sold: There were twelve home sales. This is a good performance and is on par with the 12-month average.
– Sales Price to Listed Price: 95.1% – On average, buyers saw a discount off of list price of 3.9%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: There was a 7.5% increase in the number of homes for sale.
– Pending Scottsdale Home Sales: Pending sales came in at nine again. This is on par with the 12-month average.
– Scottsdale Homes Sold: Eight homes sold in January, a solid performance for a typically slower month.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes on the market was up 5.7% over December.
– Pending Scottsdale Home Sales: Pending sales remained the same at two. This is well below the 12-month average of six.
– Scottsdale Homes Sold: A single home sold in the over $3 million range in January. This is the lowest we have seen in the past 12 months.
– Sales Price to Listed Price: 89.7% – On average, buyers saw a discount off of list price of 10.3%.
January was a quieter, but still solid month for Scottsdale luxury home sales activity. We should start to see sales activity pick up over the next couple of months.
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 were pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2017 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 expressed or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes
