– Scottsdale Luxury Home Market Performance for November 2020 –
The results for the November luxury home market are in – And while sales were for the most part down, pent up demand had UCB and pending sales on the upswing! What is unusual is that November is typically a quieter month, so to see this sales momentum is a surprise.
This is a look at the luxury home market in Scottsdale. All of these homes we on the market for $1 million or more.
We track each of these items on a monthly basis:
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 during the month.
– November 2020 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell another 14% between the end of November compared to October. Fewer homes coming onto the market plus strong sales contributed to the drop.
– UCB Scottsdale Home Sales: UCBs were up again, in a tie for the highest number of UCBs in the past year.
– Pending Scottsdale Home Sales: Pending home sales were up again! November ended with 77 pending sales in this price point, the highest it has been in the past year.
– Scottsdale Homes Sold: Eighty-two homes sold in November, the third-highest we have seen in the past year. This is much higher than the 12 month average of 65 sales.
– Sales Price to Listed Price: 98.1% – On average, buyers saw a discount off of list price of 1.9%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes on the market over 21% between October and November. This figure has not been under 100 in a very long time.
– UCB Scottsdale Home Sales: UCBs were up to 32 at the end of the month. This is much higher than the 12 month average of 21.
– Pending Scottsdale Home Sales: Pending sales were also up. They increased by 30% between the end of October and the end of November.
– Scottsdale Homes Sold: Home sales fell quite a bit in this price point to 25. However, that is coming off two of the highest sales months on record.
– Sales Price to Listed Price: 95.3% – On average, buyers saw a discount off of list price of 4.7%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory fell for the second month in a row to 136. This is the second-lowest we have seen it this year.
– UCB Scottsdale Home Sales: UCB contracts surged even higher in November. This is the highest we have seen and it is more than double the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were up again to 24. This is on par with the highest levels we have seen in the past year.
– Scottsdale Homes Sold: Sales feel to 23 at the end of the month. This is the third-highest performing month in this price point.
– Sales Price to Listed Price: 94.1% – On average, buyers saw a discount off of list price of 5.9%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory remained level between the past three months.
– UCB Scottsdale Home Sales: UCB sales were down a little bit, but this was still the second-highest performing month in the past year.
– Pending Scottsdale Home Sales: Pending sales were up to 19! This is the highest we have seen this figure in the past year! For this to happen in November is amazing.
– Scottsdale Homes Sold: An unprecedented 24 homes sold in the $3 million and above range in November. I have never seen anything like this and I have been tracking this monthly since 2007.
– Sales Price to Listed Price: 94.9% – On average, buyers saw a discount off of list price of 5.1%.
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 11/1/2020 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
