– Scottsdale AZ Luxury Home Market Performance for December 2014 –
The luxury home market in Scottsdale had a strong sales month in December, although pending sales were down across the board.
Below, you will find December’s homes sales activity broken out by price band as well as sales status For each section you will find information on the following:
Active – The number of homes on the market at the end of the month.
Pending – The number of pending sales at the end of the month.
Sold – The number of sales over the month.
– December 2014 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory stayed level between November and December at 306 homes.
– Pending Scottsdale Home Sales: Pendings saw a 38% drop compared to where we were at the end of November. There were 13 homes pending at the end of the month, in comparison to the 12 month average of 24.
– Scottsdale Homes Sold: There were 25 home sales in this price point, a big improvement over November. The 12 month average for monthly sales is 26.
– Sales Price to Listed Price: 92.7% – This is a little lower than we have been seeing.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory inched up to 151 at the end of December.
– Pending Scottsdale Home Sales: Pending sales in this price point dropped 47% to 9. The 12 month average for this is 16 pendings.
– Scottsdale Homes Sold: Unlike pending sales, sales activity in December was huge for this price range. Sixteen homes sold, well ahead of the 12 month average of 11.
– Sales Price to Listed Price: 97.6% – This is a strong figure and is similar to what we were seeing a few months ago.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes decreased slightly at the end of the month to 165. This is still ahead of the 12 month average of 147 homes.
– Pending Scottsdale Home Sales: Pendings were down to seven. This is quite a bit lower than the 12 month average of 12 pendings.
– Scottsdale Homes Sold: Home sales were also down in December, to six. However, this is not too far off of what we have been seeing over the last several months.
– Sales Price to Listed Price: 93.6% – This is about where this figure has been trending
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: There was a small rise in inventory to 139 at the end of the month.
– Pending Scottsdale Home Sales: Pending sales were down to four, which is low, but not too far off of the twelve month average of six pendings.
– Scottsdale Homes Sold: Six homes sold in December for more than $3 million. This was the best performance of the year and double the 12 month average.
– Sales Price to Listed Price: 89.9% – This number swings a lot due to low sales volume.
As we wrapped up 2014, Scottsdale’s luxury home market had a pretty strong sales month, particularly in the $2 million and above range. Pending sales were down, in some cases quite a bit. However, this is expected as many people put home buying on hold over the holiday season.
If you would like additional detail on home sales activity, please visit my 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 was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2015 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 implied or expressed. Copyright © 2015 Heather Tawes Nelson | Joyce Tawes
