– Scottsdale Luxury Home Market Performance for January 2019 –
January tends to be a month when we see luxury inventory increase as sellers list for the new year and we see sales pick up over December. January 2019 more or less followed these trends.
This report covers the sales activity of luxury homes in Scottsdale and includes a look back at the past 12 months.
Every month, we are looking at these four sales statuses.
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes that were under contract, but still accepting backup offers at the end of the month.
Pending – How many contracts were in pending status at the end of the month.
Sold – The number of homes sold that month.
– JANUARY 2019 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory increased to 302. This is up 11% compared to December and puts this figure above the 12 month average.
– UCB Scottsdale Home Sales: The number of UCB homes increased over December, but was still on the lower end if you look at the past year’s data.
– Pending Scottsdale Home Sales: The number of pending sales was up by one in January.
– Scottsdale Homes Sold: Sales fell quite a bit to 32 at the end of the month. This is due to seasonally low contract activity in December.
– Sales Price to Listed Price: 96.7% – On average, buyers saw a discount off of list price of 3.3%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale was up 18% over the end of the year.
– UCB Scottsdale Home Sales: UCB homes saw a healthy jump to 13, putting them closer to the figures we saw in early 2018.
– Pending Scottsdale Home Sales: Pending sales were also up quite a bit and were on par with the 12 month average.
– Scottsdale Homes Sold: Only twelve homes sold in January. Again this was due to slower activity over the holidays.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory for this price range was up over 20% compared to the end of December.
– UCB Scottsdale Home Sales: The number of UCB homes was up to ten. This is the second highest this has been in the past year.
– Pending Scottsdale Home Sales: Pending homes were off by one, but still put in a strong performance.
– Scottsdale Homes Sold: Eight homes sold in January, double of what we saw in December.
– Sales Price to Listed Price: 90.4% – On average, buyers saw a discount off of list price of 9.6%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale in excess of $3 million increased slightly. This has been trending upward since August of 2018.
– UCB Scottsdale Home Sales: UCBs turned in a strong performance at 11, the highest we have seen since last April.
– Pending Scottsdale Home Sales: Pending home sales almost tripled and came in with the highest figure we have seen in the past year.
– Scottsdale Homes Sold: Two homes sold in January. Sales have been at this level since October, but based on pending and UCB numbers, this should increase quite a bit in February.
– Sales Price to Listed Price: 96.0% – On average, buyers saw a discount off of list price of 4%.
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 2/1/2019 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 ©2019 Heather Tawes Nelson | Joyce Tawes
