– Scottsdale AZ Luxury Home Market Performance for October 2018 –
October, a typically slower month for home sales, came back with mixed results. Inventory was up across the board and some price ranges saw increases in sales activity.
This report analyzes the luxury home market in Scottsdale. All of these homes are priced and $1 million or more and they have been split into four different price bands to show additional detail.
The following items are what we are tracking on a monthly basis:
Active – The number of homes for sale 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 that month.
– OCTOBER 2018 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory rose over 10% between the end of September and the end of October.
– UCB Scottsdale Home Sales: Homes in UCB status jumped over 57% to close out the month at 30.
– Pending Scottsdale Home Sales: Pending sales were down by one at the end of the month. This is just below the 12 month average of 31/
– Scottsdale Homes Sold: Sales were up over 10% in October, but we are still well behind the 12 month average.
– Sales Price to Listed Price: 95.9% – On average, buyers saw a discount off of list price of 4.1%
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Homes on the market rose over 13% between September and October.
– UCB Scottsdale Home Sales: UCB sales were up by two, closing the month out at 9 sales.
– Pending Scottsdale Home Sales: Pending sales fell quite a bit to twelve. This is below the 12 month average of fourteen.
– Scottsdale Homes Sold: Homes sales were still very strong in this price point. Twenty homes sold in October, which is the third 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%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Again, the number of homes for sale rose. October ended with 132 homes for sale.
– UCB Scottsdale Home Sales: UCB contracts were up by two and ahead of the 12 month average by one.
– Pending Scottsdale Home Sales: Pending sales fell to their lowest level all year (tied with December 2017.)
– Scottsdale Homes Sold: Home sales jumped back up to 13 in October. This is ahead of the 12 month average.
– Sales Price to Listed Price: 92.8% – On average, buyers saw a discount off of list price of 7.2%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale over $3 million was up 15.5% between September and October.
– UCB Scottsdale Home Sales: UCB sales were up by one.
– Pending Scottsdale Home Sales: October ended with a single pending sale in excess of $3 million.
– Scottsdale Homes Sold: Two homes sold in this price point in October.
– Sales Price to Listed Price: 97.7% – On average, buyers saw a discount off of list price of 2.3%.
Inventory is up across the board as sellers are anticipating the return of the high season. Sales activity was mixed, but homes in the $1.5 million to $3 million turned in strong performances.
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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Copyright ©2018 Heather Tawes Nelson | Joyce Tawes
