– Scottsdale AZ Luxury Home Market Performance for March 2018 –
Here is the most recent report for the Scottsdale luxury home market. I have included all of the homes priced at $1 million or more and have further broken down the information into price segments. Each segment contains the past 12 months of data.
You will see a year’s worth of data on the following items:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes that were under contract, but still accepting backup offers 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 during the month.
– MARCH 2018 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale declined by 2.6% between February and March. Most likely due to strong sales volume.
– UCB Scottsdale Home Sales: UCBs were up to 41, well ahead of the 12 month average of 29.
– Pending Scottsdale Home Sales: Pending sales were up 23.7% over last month to 47.
– Scottsdale Homes Sold: An incredible 56 homes sold in March in this price range, a 55.6% increase over February.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up almost 8% to 247 homes.
– UCB Scottsdale Home Sales: UCB contracts were up to fourteen at the end of March, the second highest this has been in the past year.
– Pending Scottsdale Home Sales: Pending sales were also up in March, closing out the month with fifteen.
– Scottsdale Homes Sold: There were eighteen home sales last month, the third highest volume in the past year.
– Sales Price to Listed Price: 95.5% – On average, buyers saw a discount off of list price of 4.5%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: This price range ended the month with 207 homes for sale, the highest it has been for the last year.
– UCB Scottsdale Home Sales: UCB’s ended the month at eight, ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales fell to thirteen in March, the second highest this figure has been in the past year.
– Scottsdale Homes Sold: There were fourteen home sales. This was the best performance in a year.
– Sales Price to Listed Price: 91.4% – On average, buyers saw a discount off of list price of 8.6%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was down slightly to 154 homes for sale.
– UCB Scottsdale Home Sales: UCB sales stayed level at four.
– Pending Scottsdale Home Sales: Pending contracts closed out the month at seven which is a strong showing.
– Scottsdale Homes Sold: There were five home sales in March. This is not quite to the level we saw last year at this time, but it is still better than last month.
– Sales Price to Listed Price: 79.8% – On average, buyers saw a discount off of list price of 20.2%.
March ended up being another strong sales month for the Scottsdale luxury home market, especially in the lower price points.
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 4/1/2018 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
