– Scottsdale Luxury Home Market Performance for May 2022 –
While we saw some sales activity slow here and there, May was another great month for luxury home sales. And, we are seeing a lot more homes come onto the market, which is great for luxury home buyers.
This report covers luxury home sales in Scottsdale. All of these homes were priced at one million dollars and above. And since sales activity varies by price point, we grouped them into four different segments.
Each month, we track the following four items:
Active – How many homes were on the market 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.
Sold – The number of home sales.
– May 2022 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory almost doubled between the end of April and the end of May. This is great for buyers in this price point.
– UCB Scottsdale Home Sales: Demand is still strong and the number of UCB contracts was up to 54 by the end of the month.
– Pending Scottsdale Home Sales: The number of pending sales fell quite a bit, but still came in ahead of the 12 month average.
– Scottsdale Homes Sold: The number of homes sold in May was the second highest we have seen sales in the past twelve months.
– Sales Price to Listed Price: 102.7%- On average, buyers paid a 2.7% premium over list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up in this price point to 93. This is the highest we have seen it in the past year.
– UCB Scottsdale Home Sales: The number of UCB contracts fell in May, but still posted the second-highest month of activity in the past 12 months.
– Pending Scottsdale Home Sales: Pending sales were up and also posted the second-highest month of spending in the past year.
– Scottsdale Homes Sold: Sales were level with April, closing out at 55.
– Sales Price to Listed Price: 102.2% – On average, buyers paid a 2.2% premium over list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Again, we saw a nice increase in the number of homes for sale in this price point.
– UCB Scottsdale Home Sales: UCB contracts fell over 82% when compared to April. This is the second-lowest we have seen them in the past 12 months.
– Pending Scottsdale Home Sales: Pending sales were back up and came in at the second-highest we have seen them in the past year.
– Scottsdale Homes Sold: The number of home sales was up slightly and May was also the second-highest sales month in the past month.
– Sales Price to Listed Price: 100.6% – On average, buyers paid a 0.6% premium over list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale increased again in May.
– UCB Scottsdale Home Sales: UCBs were down in May, but they were still ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were also down slightly in May.
– Scottsdale Homes Sold: May home sales in the over $3 million range were the highest we have seen in the past 12 months.
– Sales Price to Listed Price: 98.7% – On average, buyers saw a discount of 1.3% off of list price.
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 6/1/2022 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 ©2022 Heather Tawes Nelson | Joyce Tawes
