– Scottsdale Luxury Home Market Performance for January 2021 –
While actual sales scale back for the most part in January, after a record-breaking December, we saw the number of contracts and pending sales jump back up. Also, I believe these numbers would be a lot higher if we had more inventory to sell.
This report takes a look at the luxury home market in Scottsdale. All of these homes are priced over $1 million and we have broken the information into price ranges to show additional detail.
Each month, these four sales metrics are tracked:
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.
Sold – How many homes sold over the course of the month.
– January 2021 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: In February 2020, there were 227 homes on the market in this price range. At the end of January 2021, there were only 67. This shows you how incredibly low our inventory is.
– UCB Scottsdale Home Sales: UCBs were back up previous levels by the end of the month.
– Pending Scottsdale Home Sales: Pending sales jumped 39.1% between December and January. This is the third highest we have seen this figure in the past year.
– Scottsdale Homes Sold: Sales fell quite sharply from December, but December’s sales performance was unprecedented. Now, sales seem to be back on track. Another thing to note is that more homes sold in January than were listed for sale at the end of the month.
– Sales Price to Listed Price: 97.1% – On average, buyers saw a discount off of list price of 2.9%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale at the end of January was almost 1/3 of the number of homes in February 2020.
– UCB Scottsdale Home Sales: UCB contracts rebounded to the highest levels we have seen.
– Pending Scottsdale Home Sales: Pending sales also jumped to the highest level we have seen.
– Scottsdale Homes Sold: Home sales fell after December’s strong performance, but still held strong.
– 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: As with the other price ranges, inventory is the lowest we have seen in the past year.
– UCB Scottsdale Home Sales: The number of UCB contracts was up 58.1% over December. This is the second highest we have seen it in the past year.
– Pending Scottsdale Home Sales: Pending sales were on track with December and tied for the second highest performance in the past year.
– Scottsdale Homes Sold: Sales were down in January after a record-breaking December, but were still very strong.
– Sales Price to Listed Price: 97.1% – On average, buyers saw a discount off of list price of 2.9%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale was down slightly, which is good news for buyers looking in this price point. There are still quite a few options.
– UCB Scottsdale Home Sales: UCB contract were back up and posted the highest level this figure has been in the past year.
– Pending Scottsdale Home Sales: Pending sales were equally strong. They were almost two times 12 month average.
– Scottsdale Homes Sold: This is the only segment where sales were up in January. An astonishing 30 homes sold for over $3 million in January. I have never seen this figure so high.
– Sales Price to Listed Price: 95.6% – On average, buyers saw a discount off of list price of 4.4%.
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.
Search Scottsdale Luxury Homes for Sale
Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2021 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 ©2021 Heather Tawes Nelson | Joyce Tawes
