– Scottsdale Luxury Home Market Performance for June 2020 –
After a couple of rough months, the luxury home market in Scottsdale rebounded in most places in June.
For the purpose of this report, we are tracking the sales activity of homes in Scottsdale with list prices of one million dollars or more.
We track the four following items on a monthly basis:
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 homes were in pending status at the end of the month.
Sold – The number of homes sold
– JUNE 2020 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory dropped quite a bit by the end of the month. This is mostly due to the robust sales activity in this price point.
– UCB Scottsdale Home Sales: UCB’s jumped over 27% over May ending the month with 69. This is where it was trending earlier in the year before COVID-19 hit.
– Pending Scottsdale Home Sales: The number of pendings was pretty level between May and June.
– Scottsdale Homes Sold: Home sales in this price point surged 90.9% in June, coming in with the second-highest sales month in the past year.
– Sales Price to Listed Price: 93.9% – On average buyers saw a discount off of list price of 6.1%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory fell as well in this price point due to an uptick in sales activity.
– UCB Scottsdale Home Sales: UCB’s were up 60% over May and closed out the month with 32, the highest we have seen in the past twelve months.
– Pending Scottsdale Home Sales: Pending sales also saw a nice uptick after a drop in April and May.
– Scottsdale Homes Sold: Twenty-three homes sold in June in this price point. It was a nice jump over May, but still a little behind the twelve month average.
– Sales Price to Listed Price: 95.1% – On average, buyers saw a discount off of list price of 4.9%.
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 down slightly at the end of June.
– UCB Scottsdale Home Sales: UCB contracts nearly doubled between May and June and were the highest we have seen by far in the past year.
– Pending Scottsdale Home Sales: Pendings saw a 70% increase between May and June.
– Scottsdale Homes Sold: This is the only price range where sales were down in June. There were only nine sales.
– Sales Price to Listed Price: 96.8% – On average, buyers saw a discount off of list price of 3.2%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale over $3 million fell about 4.4% between May and June.
– UCB Scottsdale Home Sales: UCBs saw their strongest performance of the past year with ten.
– Pending Scottsdale Home Sales: Pending sales also saw their best performance of the past year with fourteen. This is double the 12 month average.
– Scottsdale Homes Sold: There were
– Sales Price to Listed Price: 94.0% – On average, buyers saw a discount off of list price of 6.0%.
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 7/1/2020 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
