– Scottsdale AZ Luxury Home Market Performance for November 2018 –
Although November tends to be a month with lower activity, the Scottsdale luxury home market turned in a decent performance.
This report looks at sales activity for the luxury home market in Scottsdale. These homes are all listed for $1+ million and the information has been broken down further into four price bands.
Each month, we track the following 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 pending sales there were at the end of the month.
Sold – The number of homes sold.
– NOVEMBER 2018 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up for the fourth month in a row to 284. This is just below the 12 month average of 288.
– UCB Scottsdale Home Sales: UCB contracts fell to twenty-four.
– Pending Scottsdale Home Sales: Pending sales came in higher at thirty, which is strong for this time of year.
– Scottsdale Homes Sold: Sales were also up. There were 35 sales in November, an improvement over September and October.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale inched up again in November, closing out the month at just under 200.
– UCB Scottsdale Home Sales: Homes in UCB status fell to the second-lowest level they have been in the past twelve months.
– Pending Scottsdale Home Sales: Pending sales logged in at ten, also the second-lowest performance of the past year.
– Scottsdale Homes Sold: There were eighteen home sales in November, which is just ahead of the 12 month average of seventeen.
– Sales Price to Listed Price: 96.4% – On average, buyers saw a discount off of list price of 3.6%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: At the end of November, there were 136 homes on the market in this price point. This is still below the 12 month average of 158.
– UCB Scottsdale Home Sales: The number of UCB homes dropped to six.
– Pending Scottsdale Home Sales: Pending sales, on the other hand, jumped to ten.
– Scottsdale Homes Sold: Home sales fell sharply after an extremely strong sales month in October.
– Sales Price to Listed Price: 94.7% – On average, buyers saw a discount off of list price of 5.3%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up 12.6% over the end of October and surpassed the 12 month average of 131.
– UCB Scottsdale Home Sales: UCB contracts stayed level over the two months at four.
– Pending Scottsdale Home Sales: Pending sales were up by one in November, but still were just half of the 12 month average.
– Scottsdale Homes Sold: For the second month in a row, there were two sales of homes in the $3+ million range.
– Sales Price to Listed Price: 96.6% – On average, buyers saw a discount off of list price of 3.4%.
Inventory continues to increase in all price points as sellers anticipate the return of the high season. Sales activity was mixed, but more muted than 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 12/1/2018 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
