– Scottsdale AZ Luxury Home Market Performance for August 2018 –
As to be expected to due to seasonality, the luxury home market had a pretty quiet month in August, although we did see some stronger sales activity on the higher-priced homes.
This report covers Scottsdale’s luxury home sales activity. The homes have been split out into four prices ranges to show additional detail.
Each month, we track the following four things:
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 pending sales at the end of the month.
Sold – How many homes sold over the course of the month.
– AUGUST 2018 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory edged up 4.6% in this price segment. Typically, we see it decreasing or staying level.
– UCB Scottsdale Home Sales: UCB contracts fell to the lowest level we have seen in the past year.
– Pending Scottsdale Home Sales: Pending sales fell over 21% between July and August.
– Scottsdale Homes Sold: Forty-three homes sold in August, just under the 12 month average of 44.
– Sales Price to Listed Price: 94.1% – On average, buyers saw a discount off of list price of 5.9%
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory fell over 13% over the end of last month. This is the lowest we have seen in the past year.
– UCB Scottsdale Home Sales: There was a nice spike in UCBs after two quieter months.
– Pending Scottsdale Home Sales: Pending sales also saw a big jump and ended the month at the highest level we have seen in the past year.
– Scottsdale Homes Sold: Only ten homes sold in August, well below the 12 month average of 14.
– Sales Price to Listed Price: 94.0% – On average, buyers saw a discount off of list price of 6%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale fell 8.1% in August to 114.
– UCB Scottsdale Home Sales: After a great July, UCB contracts fell back down to six.
– Pending Scottsdale Home Sales: Pending sales ended up one higher and right on par with the 12 month average.
– Scottsdale Homes Sold: Thirteen homes sold in August, which is a great performance at this time of year.
– Sales Price to Listed Price: 90.6% – On average, buyers saw a discount off of list price of 9.4%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes on the market has been decreasing since January. August closed out at 93.
– UCB Scottsdale Home Sales: UCB contracts more than doubled compared to the end of July.
– Pending Scottsdale Home Sales: While UCBs were strong, pending sales dropped to a single home. This is the lowest it has been in the past year.
– Scottsdale Homes Sold: There were three sales in this price point in August.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%.
Sales activity was in mixed in August. While we saw sales taper off in the lower price bands, the higher priced homes posted higher sales figures.
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 9/1/2018 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
