Scottsdale AZ Luxury Home Market – October 2023

– Scottsdale Luxury Home Market Performance for October 2023 –

October is usually a slower month in terms of sales activity in Scottsdale. This October was interesting in that some price ranges saw a rebound in contract and sales activity while others saw decreases. The only constant across the board was that inventory increased in all price points.

In this report, we look at the Scottsdale luxury home market. In order to show additional detail, we have broken this market into four price points.

– OCTOBER 2023 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: Inventory took a big step up and returned to levels that we have not seen since February. This is good news since there are many buyers out there looking in this price point.
– UCB Scottsdale Home Sales: The number of UCBs fell slightly to 29, a bit below the 12 month average of 36.
– Pending Scottsdale Home Sales: Pending sales saw a steeper decline in October, ending up at the lowest level we have seen in the past year.
– Scottsdale Homes Sold: However, sales saw a nice rebound in October, closing out the month at 65.
– Sales Price to Listed Price: 96.5%- On average, buyers saw a discount of 3.5% 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 was up 15.8% compared to the end of September.
– UCB Scottsdale Home Sales: After a brutal showing in September, the number of UCB contracts rebounded to a healthy level.
– Pending Scottsdale Home Sales: Pending sales have been trending down for a few months.
– Scottsdale Homes Sold: The number of homes sold came in at 27. This was quite low for this price point.
– Sales Price to Listed Price: 97.1% – On average, buyers saw a discount of 2.9% 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 hit the highest level we have seen in the past year and it was quite a bit higher than the 12 month average of 137.
– UCB Scottsdale Home Sales: UCB contracts fell slightly to 17.
– Pending Scottsdale Home Sales: Pending sales were also down slightly and closed out at 31 for the month. To be noted, this is above the 12 month average of 30 pending sales.
– Scottsdale Homes Sold: After a big drop in sales in September, October was up and came in on par with the 12 month average.
– Sales Price to Listed Price: 95.8% – On average, buyers saw a discount of 4.2% off of list price.

---

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Wow – There was a big jump of about 15% in homes for sale over $3 million. Inventory is now well ahead of the 12 month average of 194.
– UCB Scottsdale Home Sales: UBC contracts were up slightly to close out the month at 16.
– Pending Scottsdale Home Sales: After some good momentum, pending home sales fell to 23 at the end of October.
– Scottsdale Homes Sold: Home sales in this price point saw a very healthy increase, going from 19 in September to 29 in October.
– Sales Price to Listed Price: 97.4% – On average, buyers saw a discount of 2.6% off of list price.

---

If you would like additional details 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

Here is a sample of some luxury homes that are currently for sale:

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2023 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