Scottsdale AZ Luxury Home Market – January 2018

– Scottsdale AZ Luxury Home Market Performance for January 2018 –

Here is the first Scottsdale luxury home report of 2018.

For this report, I am looking at homes sales activity in Scottsdale where the homes are listed for $1 million or more. The past year of data is included and it has been separated into four price points to show additional detail.

Here are the things we are tracking each month:
Active –  How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still 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 during the month.

– JANUARY 2018 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: Inventory started to move back up as the year began.
– UCB Scottsdale Home Sales: UCBs were the highest we have seen in the past year. We closed out January with 40 UCB’s, well above the 12 month average of 27.
– Pending Scottsdale Home Sales: Pending sales were up slightly to 18. This is a little slower than we typically see in the new year.
– Scottsdale Homes Sold: Thirty-five homes sold in January. This is slightly ahead of the 12 month average of 34.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 7.1%

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: Inventory was up almost 15% between December and January as homes came back onto the market.
– UCB Scottsdale Home Sales: UCB sales were down by one to eleven. This is on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales saw a nice rebound to 14 at the end of January. This is also above the 12 month average.
– Scottsdale Homes Sold: Eighteen homes sold in January, making it one of the best sales months in the past year.
– Sales Price to Listed Price: 94.9% – On average, buyers saw a discount off of list price of 5.1%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: Inventory for this price point was also up at the end of January.
– UCB Scottsdale Home Sales: UCB sales almost doubled between December and January. This is the highest we have seen this figure in the past year.
– Pending Scottsdale Home Sales: Pending sales also almost doubled as well. There were thirteen pendings at the end of the month, the highest we have seen in the past 12 months.
– Scottsdale Homes Sold:  Only four homes sold in January, coming off of the holiday season.
– Sales Price to Listed Price: 94.2% – On average, buyers saw a discount off of list price of 5.8%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was up over 12% between December and January.
– UCB Scottsdale Home Sales: UCBs were level at three.
– Pending Scottsdale Home Sales: Pending sales fell to three after a very strong December. This is below the 12 month average of five.
– Scottsdale Homes Sold:  There were seven sales in January, which was a very strong performance.
– Sales Price to Listed Price: 90.7% – On average, buyers saw a discount off of list price of 9.3%.

January turned out to be an excellent month. While some sales were lower, coming off of the slow holiday season, pendings and UCB sales came back with some large gains. This indicates February should be a good sales month.

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 1/1/2018 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 ©2018 Heather Tawes Nelson | Joyce Tawes