– Scottsdale Luxury Home Market Performance for January 2023 –
In this report, we examine the luxury home market in Scottsdale. To show the results in better detail, we have split the information into four price bands.
Overall, we did see inventory increase by the end of the month, which makes sense as many sellers wait until the new year to list their homes. And although sales activity was mixed, we did see an increase in pending contracts which will be good news for February’s numbers.
– JANUARY 2023 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The inventory of available homes jumped 17.3% between the end of December and the end of January, placing us back at a level seen in the August/September range.
– UCB Scottsdale Home Sales: UCB contracts skyrocketed 58.5% when compared to the end of December. This is ahead of the 12 month average and is where we were seeing things in early/mid-summer 2022.
– Pending Scottsdale Home Sales: The number of pending sales was also up in January. There was a 24.5% increase between December and January.
– Scottsdale Homes Sold: Sales saw a modest improvement and came in slightly higher.
– Sales Price to Listed Price: 96.1%- On average, buyers saw a discount of 3.9% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale climbed in January to a level where they have been for the last several months, not counting December.
– UCB Scottsdale Home Sales: The number of UCB contracts rebounded back to pre-December levels.
– Pending Scottsdale Home Sales: Pending contracts rebounded nicely in January.
– Scottsdale Homes Sold: December posted very low UCB and pending contracts. With that, sales in January were impacted because of the smaller pipeline.
– Sales Price to Listed Price: 95.4% – On average, buyers saw a discount of 4.6% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale increased 20.4% between December and January.
– UCB Scottsdale Home Sales: The number of UCBs was back up and even surpasses the 12 month average. This is this price point’s best performance since summer of 2022.
– Pending Scottsdale Home Sales: The number of pending sales remained level at 23 in January.
– Scottsdale Homes Sold: Just like we saw in the last price range, sales were down in January due to a lower number of contracts in the pipeline.
– Sales Price to Listed Price: 94.6% – On average, buyers saw a discount of 5.4% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale rose by 17.5% in January, well ahead of the 12 month average of 155. This is the highest this figure has been in the past year.
– UCB Scottsdale Home Sales: After a horrible month in December, we saw the number of UCB contracts almost double.
– Pending Scottsdale Home Sales: Pending sales had a much better month in January, closing it out at 26.
– Scottsdale Homes Sold: And, like we have seen in other price ranges, sales were impacted by a shortage of pending activity.
– Sales Price to Listed Price: 95.4% – On average, buyers saw a discount of 4.6% 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.
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 2/1/2023 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 ©2023 Heather Tawes Nelson | Joyce Tawes
