– Scottsdale Luxury Home Market Performance for October 2021 –
October was a mixed bag in terms of sales performance. We saw pending contracts increase in some price ranges and decrease in others. Sales were up in three of the four price bands.
This analysis looks at luxury home sales in Scottsdale. These homes were listed for $1 million and above. To show more detail, we broke the data into four different price bands.
Each month, we track the following four things:
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.
Sold – How many homes sold over the course of the month.
– October 2021 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale fell for the fourth month in a row.
– UCB Scottsdale Home Sales: UCBs rebounded in October to 60. This is ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were back up to 57 after a few months with less activity.
– Scottsdale Homes Sold: Home sales dropped 27.3% after a strong September. However, UCBs and pendings are up, so I anticipate this number to increase in November.
– Sales Price to Listed Price: 98.9% – On average, buyers saw a discount of 1.1% off of asking price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory in this price point was down again to 52.
– UCB Scottsdale Home Sales: UCBs fell to the lowest level we have seen in the past twelve months, with the exception of August.
– Pending Scottsdale Home Sales: Pending sales also saw a decrease, coming in at the second lowest we have seen them in the past year.
– Scottsdale Homes Sold: Sales rebounded by 18.4% over September. However, with lower UCB and pendings in the pipeline, this should fall again in November.
– Sales Price to Listed Price: 99.0% – On average, buyers saw a discount of 1% off of asking price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale were up slightly over September. But if you contrast this with November 2020’s 136 homes for sale, you can really see the lack of inventory.
– UCB Scottsdale Home Sales: UCB contracts were up slightly to 26. They have been trending in this range since April.
– Pending Scottsdale Home Sales: Pending sales saw a significant drop in October, coming in at the lowest we have seen in the past year.
– Scottsdale Homes Sold: Sales were up slightly in October, closing out at 31.
– Sales Price to Listed Price: 98.2% – On average, buyers saw a discount off of list price of 1.8%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up slightly by the end of the month and it was just below the 12 month average.
– UCB Scottsdale Home Sales: UCBs were up by one by the end of the month.
– Pending Scottsdale Home Sales: Pending sales fell slightly, but still posted the second-highest performance of the past year.
– Scottsdale Homes Sold: Sales were up yet again in October, posting three months of gains.
– Sales Price to Listed Price: 95.5% – On average, buyers saw a discount off of list price of 4.5%.
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 11/1/2021 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
