– Scottsdale AZ Luxury Home Market Performance for April 2017 –
The following report is an in-depth look at the luxury home market in Scottsdale. I am defining the luxury market as those homes with asking prices in excess of $1 million.
The report covers the past twelve months of sales activity for this segment and is broken down into four price bands to show additional detail.
Within each price band, the following data points are included:
Active – The number of homes on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract but accepting backup offers at the end of the month.
Pending – The number of pending sales at the end of the month.
Sold -How many homes sold over the course of the month.
– APRIL 2017 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory dropped for the second month in a row. Now that the high season is ending, this number should continue to drop.
– UCB Scottsdale Home Sales: UCB homes climbed 20% to 30 by the end of the month.
– Pending Scottsdale Home Sales: Pending home sales fell to 30, but were still ahead of the 12 month average of 26.
– Scottsdale Homes Sold: Thirty-seven homes sold in April, the highest amount we have seen in the past 12 months.
– Sales Price to Listed Price: 94.5% – On average, buyers saw a discount off of list price of 5.5%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up slightly at the end of the month to 244.
– UCB Scottsdale Home Sales: UCB status homes were up to 15 by the end of the month, the best we have seen in the past 4 months.
– Pending Scottsdale Home Sales: Pending sales were also up to 17. This is the second highest we have seen them since May 2016.
– Scottsdale Homes Sold: Only ten homes sold in April. This is lower than last month’s incredible 18 sales as well as lower than the 12 month average of 12 sales.
– Sales Price to Listed Price: 92.4% – On average, buyers saw a discount off of list price of 7.6%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was still over the two hundred mark at the end of April, but was down from March.
– UCB Scottsdale Home Sales: UCB homes came in at 5, close to the four month average.
– Pending Scottsdale Home Sales: Pending sales were down from the pace we have seen over the past several months. Only five homes were pending.
– Scottsdale Homes Sold: There were seven home sales in April. This is also down from the pace we have been seeing.
– Sales Price to Listed Price: 91.8% – On average, buyers saw a discount off of list price of 8.2%
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale in this price point was down 7.6% over March. Inventory has been decreasing for a couple of months now.
– UCB Scottsdale Home Sales: After a very strong showing in March, April’s UCBs were back down to 5 at the end of the month.
– Pending Scottsdale Home Sales: Pending sales doubled, coming in at eight. This is well ahead of the 12 month average of 5.
– Scottsdale Homes Sold: This was the best sales month this price segment has seen in the past year. Ten homes sold in April.
– Sales Price to Listed Price: 91.3% – On average, buyers saw a discount off of list price of 8.7%.
April was a solid month for the luxury home market in Scottsdale. While sales were mixed depending on price points, there is still very healthy activity.
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.
Search Scottsdale Luxury Homes for Sale
Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2017 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
