– Scottsdale Luxury Home Market Performance for August 2019 –
Although actual sales fell off in August, there was some strong UCB and Pending activity, which bodes well for September’s figures.
All of these luxury homes in Scottsdale were listed at or above $1 million.
Each month, we look at four different sales statuses.
Active – The number of homes on the market 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.
Sold – How many homes sold.
– AUGUST 2019 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory actually increased by 7% between July and August. Typically, we see the number of homes for sale taper off at this time of the year.
– UCB Scottsdale Home Sales: UCBs were actually up by two at month’s end.
– Pending Scottsdale Home Sales: Pending sales were level and have been in the same range for the past three months.
– Scottsdale Homes Sold: Twenty-eight homes sold, which is a 24.3% decrease compared to July. This is the lowest we have seen this figure in the past year.
– Sales Price to Listed Price: 94.2% – On average buyers saw a discount off of list price of 5.8%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was down almost 5% in August. This is in line with seasonal trends.
– UCB Scottsdale Home Sales: UCBs closed out August at eleven. They have been in this range for the past three months.
– Pending Scottsdale Home Sales: Pending sales rebounded in August after a very low July.
– Scottsdale Homes Sold: Only thirteen homes sold during the month. This is the second lowest we have seen this figure in the past year.
– Sales Price to Listed Price: 94.3% – On average, buyers saw a discount off of list price of 5.7%.
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 level between July and August.
– UCB Scottsdale Home Sales: The number of UCBs fell by two.
– Pending Scottsdale Home Sales: Pending sales saw a nice jump to sixteen. This is ahead of the 12 month average.
– Scottsdale Homes Sold: There were eleven home sales in August, which brings sales back to where they were during the same time last year.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale in the $3 million and up price range was level with the previous month.
– UCB Scottsdale Home Sales: UCBs have come in at three monthly for the past three months.
– Pending Scottsdale Home Sales: Pending sales also came in at three. This is down slightly from July.
– Scottsdale Homes Sold: Sales fell again to two. This is similar to what we saw at the same time last year.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 6.1%.
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 9/1/2019 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
