– Scottsdale Luxury Home Market Performance for February 2019 –
We saw some of the seasonal momentum pick up in February. Home sales and pending sales were up at the end of the month.
This analysis covers the past twelve months of sales activity in the Scottsdale luxury home market. All of these homes are priced at $1 million or more and we have broken the information down into four price bands to show more detail.
Each month we track the following 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 that were 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.
– FEBRUARY 2019 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was down slightly to 300 homes.
– UCB Scottsdale Home Sales: There were 31 homes in UCB status at the end of this month. This is a 34.8% healthy jump over January.
– Pending Scottsdale Home Sales: Pendings were up to 24, making this the third month in a row of increases.
– Scottsdale Homes Sold: Sales were also up to 36, a 12.5% increase month over month.
– 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: Inventory was down slightly in this price point and ended the month at 240.
– UCB Scottsdale Home Sales: The number of UCBs jumped to sixteen. This is well ahead of the 12 month average of 11.
– Pending Scottsdale Home Sales: Pending sales ended the month at 15.
– Scottsdale Homes Sold: Home sales were up 25% over January and closed out the month at 15.
– 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: The number of homes for sale in this price point was up again at the end of the month.
– UCB Scottsdale Home Sales: UCB contracts were up to thirteen, well ahead of the 12 month rolling average.
– Pending Scottsdale Home Sales: Pending contracts were up to seventeen, the second highest we have seen in the past year.
– Scottsdale Homes Sold: Eight homes sold in February, which is the same as what we saw in January.
– Sales Price to Listed Price: 93.1% – On average, buyers saw a discount off of list price of 6.9%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up slightly at the end of February,
– UCB Scottsdale Home Sales: UCBs fell quite a bit to seven. However, this is still ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending home sales were fantastic and the highest we have seen in the past year. It will be interesting to see March’s sales figures for this price point.
– Scottsdale Homes Sold: Home sales also were fantastic. Eight homes sold in February, tying with the second highest sales month in the past year.
– Sales Price to Listed Price: 82.6% – On average, buyers saw a discount off of list price of 17.4%
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 3/1/2019 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
