– Scottsdale AZ Luxury Home Market Performance for June 2018 –
Scottsdale’s luxury home market had another good month, although activity was slower as we moved into the low season. All of the homes in this report had asking prices of $1 million or more. The sales data is split into four different price bands as the various price points perform differently.
We are tracking the four components below:
Active – The number of homes on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes under contract, but still accepting backup offers at the end of the month.
Pending – The number of homes in pending status at the end of the month.
Sold – How many homes sold that month.
– JUNE 2018 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell to 109 at the end of June. This is below the 12 month average of 132 homes.
– UCB Scottsdale Home Sales: UCB activity fell as well to five homes. While this is lower than the last two months, it is still a good showing.
– Pending Scottsdale Home Sales: Pending sales fell to three. This is below the 12 month average of five pendings.
– Scottsdale Homes Sold: After a record sales month in May, June sales were still very strong at eight.
– Sales Price to Listed Price: 94.9% – On average, buyers saw a discount off of list price of 5.1%
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was down a little over 11% compared to May.
– UCB Scottsdale Home Sales: UCB homes ended the month at 9. This was of the slowest months for this metric.
– Pending Scottsdale Home Sales: Pending sales still came in strong at thirteen.
– Scottsdale Homes Sold: An unbelievable 27 homes sold in June in this price point. This is the highest it has been by far in the past year.
– Sales Price to Listed Price: 94.6% – On average, buyers saw a discount off of list price of 5.4%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Homes for sale in this price point fell to 144.
– UCB Scottsdale Home Sales: UCB’s stayed in more or less the same place they have been for the past several months.
– Pending Scottsdale Home Sales: Pendings posted another strong month and closed out June at fourteen.
– Scottsdale Homes Sold: After a fantastic May, sales fell to twelve, which is a strong number for this price point.
– Sales Price to Listed Price: 88.7% – On average, buyers saw a discount off of list price of 11.3%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: At the end of June, there were 109 homes for sale priced over $3 million.
– UCB Scottsdale Home Sales: UCBs ended the month at five, which is just ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales fell sharply from seven to three at the end of June.
– Scottsdale Homes Sold: After a record-breaking month in May, sales were down to eight in June. This was the second highest they have been in the past year.
– Sales Price to Listed Price: 94.9% – On average, buyers saw a discount off of list price of 5.1%.
May 2018 was one of the best sales months the luxury home market in Scottsdale has ever seen. And, although June showed the impact of seasonal slowdowns, it still posted some strong sales figures. Based on UCBs and pending activity, July should be a quieter 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 7/1/2018 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
