– Scottsdale Luxury Home Market Performance for April 2021 –
Even though I know the Scottsdale real estate market is incredibly hot, I am still blown away when I pull the numbers each month. This is especially true with the luxury market. I used to be impressed if seven homes sold in a month with prices in excess of $3 million. In April, twenty-three homes over $3 million sold!
This report covers sales activity in the luxury home market in Scottsdale. All of these homes were originally listed for $1 million or more and I have split this information into four separate price bands to show greater detail.
Each month, we track the following things:
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 pending sales there were at the end of the month.
Sold – The number of homes sold.
– April 2021 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale edged up slightly in April, which is good to see. However, we are still well below the 12 month average.
– UCB Scottsdale Home Sales: UCBs fell off a little, closing out the month at 63.
– Pending Scottsdale Home Sales: Pending sales saw their highest levels ever at 87. This is just insane when you compare it to May of 2020 where there were 36 pending sales.
– Scottsdale Homes Sold: Home sales were off by one in April, but still came in at the second-highest level we have seen.
– Sales Price to Listed Price: 100.8% – On average, buyers paid 0.8% over asking prices.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up by almost 15% between the end of March and the end of April.
– UCB Scottsdale Home Sales: The number of UCBs fell in this price point, too.
– Pending Scottsdale Home Sales: The number of pending sales was up slightly and was the second-highest we have seen this number.
– Scottsdale Homes Sold: April sales clocked in at 50, another second place performance in this price range.
– Sales Price to Listed Price: 100.2% – On average, buyers paid a premium of 0.2% over asking prices.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory in this price point has been steadily falling since September of 2020, although we were only down by one at the end of April.
– UCB Scottsdale Home Sales: Following the trend we saw in the $1 – $2 million price points, the number of UCB contracts fell in April.
– Pending Scottsdale Home Sales: Pending sales also fell in April, but turned in the second-highest volume we have seen.
– Scottsdale Homes Sold: Wow. There were 59 home sales in April at this price point – a new record!
– Sales Price to Listed Price: 99.7% – On average, buyers saw a discount off of list price of 0.3%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale was up about 4% by the end of April.
– UCB Scottsdale Home Sales: Unlike the other price points, UCBs saw a jump to the highest we have seen them.
– Pending Scottsdale Home Sales: Pending sales were down, but still turned in a very strong performance.
– Scottsdale Homes Sold: After three insane sales months, we saw the number of sales drop to 23 in April. This is still a very impressive number though!
– Sales Price to Listed Price: 95.4% – On average, buyers saw a discount off of list price of 4.6%.
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 5/1/2021 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
