– Scottsdale Luxury Home Market Performance for December 2023 –
The year ended with another set of mixed results. Inventory was down across the board, but we do see this every year as some sellers take their homes off of the market for the holidays and many listing contracts expire at the end of the year.
In this report, we delve into Scottsdale’s luxury home market, defined as single-family homes with list prices of $1 million or more. To give you a better idea of how the market is performing, we split the data into four price bands.
– DECEMBER 2023 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell in December after four months of increases. However, it is still ahead of the 12 month average of 190.
– UCB Scottsdale Home Sales: The number of UCBs was down 50% compared to November and posted the lowest performance of 2023 by far.
– Pending Scottsdale Home Sales: On the flip side, pending sales saw a very healthy rebound after a dismal November.
– Scottsdale Homes Sold: Sales in this price point were down quite a bit. Not only is this a slower time of year, but high interest rates were also impacting the market.
– 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 fell to 139.
– UCB Scottsdale Home Sales: UCB contracts were down after a strong November. Some of this can be attributed to seasonality.
– Pending Scottsdale Home Sales: Pending sales had a very difficult month. As we saw in the lower price range, pending contracts were at their lowest level of the year by a wide margin.
– Scottsdale Homes Sold: Home sales were up in December and turned in a very solid performance. Thirty-eight homes sold, which is on par with the 12 month average.
– Sales Price to Listed Price: 96.6% – On average, buyers saw a discount of 3.4% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: As in all of the price points, the number of homes for sale was down in December.
– UCB Scottsdale Home Sales: UCB contracts saw a slight improvement, but were still quite low compared to the 12 month average.
– Pending Scottsdale Home Sales: Pending sales ended the month up slightly and had a decent performance.
– Scottsdale Homes Sold: Home sales fell to their second-lowest level of the year in December.
– Sales Price to Listed Price: 94.3% – On average, buyers saw a discount of 5.7% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The drop in inventory in the $3 million and up category was slight and the number of homes for sale are still above the 12 month average.
– UCB Scottsdale Home Sales: UCBs turned in their second-lowest performance in the past year.
– Pending Scottsdale Home Sales: Pending sales also saw a decrease in December.
– Scottsdale Homes Sold: Sales came roaring back in December after a very quiet November. Thirty-four homes sold which is well above the 12 month average of twenty seven.
– Sales Price to Listed Price: 95.3% – On average, buyers saw a discount of 4.7% 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:
MLS IDX Listing Disclosure © 2024
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2024 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 ©2024 Heather Tawes Nelson | Joyce Tawes
