– Scottsdale Luxury Home Market Performance for March 2023 –
After a strong February, we saw an even stronger month of sales and sales activity in March. New contracts were up for the most part and sales during the month really accelerated.
In this report, we examine Scottsdale’s luxury home market. The home prices start at one million and the data has been broken into four price bands to show additional detail.
– MARCH 2023 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes on the market at the end of the month fell for the second month in a row.
– UCB Scottsdale Home Sales: UCB contracts were down compared to February, but they are still higher than the 12 month average.
– Pending Scottsdale Home Sales: Pending sales also saw a decline, but they still posted a decent month.
– Scottsdale Homes Sold: Sales in March were outstanding. 101 homes sold, putting this in line with where sales were at this time last year.
– Sales Price to Listed Price: 95.9%- On average, buyers saw a discount of 4.1% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was more or less level compared to the last couple of months.
– UCB Scottsdale Home Sales: UCB contracts came in at the same level that we saw in February.
– Pending Scottsdale Home Sales: Pending sales saw another nice increase in March.
– Scottsdale Homes Sold: After a lackluster start to the year, we sale a very healthy rebound in sales activity in March. There were 43 sales, coming in above the 12 month average of 39.
– Sales Price to Listed Price: 96.2% – On average, buyers saw a discount of 3.8% 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 remained level with the previous month.
– UCB Scottsdale Home Sales: The number of UCBs came in at the second highest we have seen them in the past year.
– Pending Scottsdale Home Sales: Pending sales fell slightly in March, but were still just ahead of the 12 month average.
Scottsdale Homes Sold: Sales were up again this month to 34. This is the third highest we have seen them in the past year.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount of 5.6% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale was down slightly, but this figure is still pretty high relative to where it has been in the past year.
– UCB Scottsdale Home Sales: The number of UCBs jumped to 29 in March, posting the second highest performance in the past year.
– Pending Scottsdale Home Sales: Pending sales fell slightly.
– Scottsdale Homes Sold: We saw another large rebound here on the sales side of things. There were 36 sales in March, this third highest this has been in the past 12 months.
– Sales Price to Listed Price: 95.2% – On average, buyers saw a discount of 4.8% 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 4/1/2023 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
