– Scottsdale AZ Luxury Home Market Performance for February 2015 –
The luxury home market in Scottsdale had another solid month in February. Although some price points performed better than others, there was good sales and pending sales activity.
This analysis looks at home sales in the over $1 million home market in Scottsdale. The information has been split into four price bands to provide additional detail. Each price band will contain the following information:
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 home sales over the course of the month.
– February 2015 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up slightly (1.5%) over January to 344. This is well ahead of the 12 month average of 276 homes.
– Pending Scottsdale Home Sales: Pending sales saw a very healthy 35% jump over last month. This is the highest this figure has been since the high selling season last year.
– Scottsdale Homes Sold: Sales also saw a healthy rebound of 21.7% over January. There were 28 sales in this price point, which is right on track with the 12 month average.
– Sales Price to Listed Price: 94.0% – This is about where we have been seeing this figure.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory for this price range was up 7.3% over January to 192 homes. This is ahead of the 12 month average of 150 homes.
– Pending Scottsdale Home Sales: The number of pending sales dropped slightly to 11 in February, below the 12 month average of 15.
– Scottsdale Homes Sold: Home sales jumped over 57% over January in this category. There were 11 home sales, which is on track with the 12 month average.
– Sales Price to Listed Price: 93.6% – This is on track with what we have been seeing.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was level for this price point, coming in at 184 homes for sale at the end of the month.
– Pending Scottsdale Home Sales: Pending sales were down over 35% from the previous month to nine, below the 12 month average of eleven
– Scottsdale Homes Sold: On a brighter note, home sales were excellent, more than doubling January’s performance. There were fourteen sales, compared to the twelve month average of eight sales.
– Sales Price to Listed Price: 92.4% – This is pretty on track for this price point.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: There was an 8.8% increase in the number of homes for sale in excess of $3 million. This is the highest this figure has been in the past year.
– Pending Scottsdale Home Sales: Pending sales rebounded over January. At the end of the month, there were 5 pending sales, right on par with the 12 month average.
– Scottsdale Homes Sold: There were four homes sales in February, also on par with the 12 month average.
– Sales Price to Listed Price: 97.2% – This is higher than we usually see for these homes.
Overall, February was a positive month for the luxury home market in Scottsdale. For the most part, pendings and sales were solid. However, we will want to keep an eye on inventory as some price bands saw appreciable jumps without corresponding sales activity.
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 3/1/2015 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
