Scottsdale AZ Luxury Home Market – November 2024

– Scottsdale Luxury Home Market Performance for November 2024 –

This report covers Scottsdale’s luxury home market. To be included in this report, the homes had to have a list price of one million dollars or more. Because different price points behave differently, we divided the information into four price bands.

November was a mixed bag in terms of performance. Some price points had a solid month and not so much in others.

– NOVEMBER 2024 –

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

– Active Scottsdale Homes on the Market: The number of homes for sale was down slightly when compared to October, but this was still the second-highest month of inventory in the past year.
– UCB Scottsdale Home Sales: UCB contracts were up slightly in November, coming in one higher than the 12 month average of 39.
– Pending Scottsdale Home Sales: Pendings sales fell in November after a strong October, but they were were still on par with the 12 month average.
– Scottsdale Homes Sold: October was a fantastic sales month, so it is not surprising to see sales fall in November. However, 74 sales is closer to what we would expect in a high-season month, so this was a solid performance.
– Sales Price to Listed Price: 96.9% – On average, buyers saw a discount of 3.1% off of list price.

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Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: After a big jump in October, the inventory of homes for sale fell slightly by the end of November.
– UCB Scottsdale Home Sales: UCBs fell to their third lowest level in the past twelve months.
– Pending Scottsdale Home Sales: Pendings were down slightly at the end of November, but still turned in a decent performance.
– Scottsdale Homes Sold: After a great performance in October, we saw an even better one in November. There were 48 sales, coming in above the 12 month average of 45.
– Sales Price to Listed Price: 96.9% – On average, buyers saw a discount of 3.1% off of list price.

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Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: The number of homes for sale in this price point almost crossed the 200 mark at the end of the month.
– UCB Scottsdale Home Sales: UCB contracts fell by one when compared to October, but this was still a solid performance for this time of year.
– Pending Scottsdale Home Sales: We saw an uptick in the number of pending contracts in November. We closed out with 27, but this is still quite lower than the 12 month average of 35.
– Scottsdale Homes Sold: The number of homes sold fell in November, but they were similar to what we have been seeing over the last several months.
– Sales Price to Listed Price: 95.6% – On average, buyers saw a discount of 4.4% off of list price.

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Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was up slightly at the end of November.
– UCB Scottsdale Home Sales: UCB contracts were up a very impressive 38.5% over November and came out much higher than the 12 month average.
– Pending Scottsdale Home Sales: Pendings contracts also had a super month, coming in 43.3% above October.
– Scottsdale Homes Sold: Although November sales were the lowest we have seen in the past year, the huge jumps in UCB and pending contracts point to a very strong sales month in December.
– Sales Price to Listed Price: 97.5% – On average, buyers saw a discount of 2.5% off of list price.

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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 12/1/2024 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