– Scottsdale AZ Luxury Home Market Performance for September 2018 –
September was another quiet month for the Scottsdale luxury home market. This time of year is our slow season so this is to be expected.
This analysis takes a look at luxury home sales in Scottsdale over the previous twelve months. The sales figures have been split into four different price ranges to show additional detail.
Each month, we track the following four things:
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 – How many home sales were pending at the end of the month.
Sold – The number of homes sold that month.
– SEPTEMBER 2018 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up again at the end of September to 247.
– UCB Scottsdale Home Sales: UCBs were up by one compared to August. This is still well below the 12 month average of 32.
– Pending Scottsdale Home Sales: Pending sales were down slightly to 28, which is not too far off of the 12 month average of 31.
– Scottsdale Homes Sold: Sales dropped over 32% between August and September. However, if you look at the similar time in 2017, this is not unexpected.
– Sales Price to Listed Price: 95.2% – On average, buyers saw a discount off of list price of 4.8%
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale was up almost 6% between August and September.
– UCB Scottsdale Home Sales: UCB sales fell by half between the two months. However, August was a very strong month for UCB contracts.
– Pending Scottsdale Home Sales: Pending sales were down slightly by one.
– Scottsdale Homes Sold: This was the brightest point of the sales month. Home sales in this price point more than doubled. There were 21 sales, well ahead of the 12 month average of 15. This is also far and away the highest number of sales in the past year.
– Sales Price to Listed Price: 95.1% – On average, buyers saw a discount off of list price of 4.9%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of active homes edged up slightly by the end of September.
– UCB Scottsdale Home Sales: UCB homes were also up slightly to seven. This is on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales only fell by one between August to September.
– Scottsdale Homes Sold: Home sales fell over 38% between the two months. However, this is seasonal in nature.
– Sales Price to Listed Price: 97.1% – On average, buyers saw a discount off of list price of 2.9%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The inventory of homes for sale jumped almost 20% and closed out over 100 for the first time since June.
– UCB Scottsdale Home Sales: UCB sales fell sharply to three. This is well below the 12 month average of three.
– Pending Scottsdale Home Sales: There were no pending sales at the end of September.
– Scottsdale Homes Sold: Sales stayed the same at three.
– Sales Price to Listed Price: 99.1% – On average, buyers saw a discount off of list price of 0.9%.
Sales activity was slow across the board in September, with the exception of homes priced in the $1.5 to $2 million range. I expect more of the same for October.
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 10/1/2018 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
