– Scottsdale Luxury Home Market Performance for January 2020 –
The new year brought in mixed sales results for the luxury home market in Scottsdale. Coming off of the holidays, sales were not strong across the board, but we did see some increases in pending sales activity.
For the purposes of this report, we are studying sales activity within the luxury home market in Scottsdale. All of these homes had list prices of $1 million or more.
Each month, we track the following four items:
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 at the end of the month.
Sold – How many homes sold on a monthly basis.
– JANUARY 2020 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale increased to close out the month at 252.
– UCB Scottsdale Home Sales: UCBs saw a very healthy jump to 48. This is well ahead of the 12 month average of 33.
– Pending Scottsdale Home Sales: Pending sales saw a slight increase./
– Scottsdale Homes Sold: Sales dropped quite a bit after an incredible December. This number should pick up based on the number of UCB/pending contracts.
– Sales Price to Listed Price: 92.4% – On average buyers saw a discount off of list price of 7.6%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory fell to its second-lowest level in the past year due to strong pending sales activity.
– UCB Scottsdale Home Sales: The number of UCB contracts more than doubled compared to December and this is the highest we have seen them go in the past year,
– Pending Scottsdale Home Sales: Pending sales were also up to 22. This is well ahead of the 12 month average.
– Scottsdale Homes Sold: Sales fell to fourteen, which is not surprising due to the holiday season.
– Sales Price to Listed Price: 97.7% – On average, buyers saw a discount off of list price of 2.3%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale dipped in this price point due to strong pending numbers.
– UCB Scottsdale Home Sales: UCBs remained pretty level.
– Pending Scottsdale Home Sales: Pendings jumped to 20, making this the second-highest we have seen them in the past year.
– Scottsdale Homes Sold: Home sales were up 40% compared to December. Sales were also on par with the twelve month average.
– Sales Price to Listed Price: 95.8% – On average, buyers saw a discount off of list price of 4.2%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up to 159, coming in above the 12 month average.
– UCB Scottsdale Home Sales: UCB contracts remained at eight for the second month.
– Pending Scottsdale Home Sales: Pending sales fell slightly to close the month out at five.
– Scottsdale Homes Sold: Nine homes sold in this price point, which is a very strong showing for January.
– Sales Price to Listed Price: 95.7% – On average, buyers saw a discount off of list price of 4.3%.
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 2/1/2020 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 ©2020 Heather Tawes Nelson | Joyce Tawes
