Here are the June results for the Scottsdale AZ luxury home market. This analysis looks at single-family resale homes in Scottsdale with list prices of $1,000,000 and above over the last twelve months.
– June 2009 –
Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 396 homes on the market in this price segment. Over the last twelve months, the average has been 519. And, in the 22 months, I have been tracking these figures, this is the first time is has gotten into the 300’s. In March of 2008, there were 637 homes for sale in this price point.
– Pendings: There were 24 pending home sales at the end of June. While this was lower than May’s 44, this figure is still ahead of the 12 month average of 26.
– Sold: There were 29 sales in June, the highest this figure has been in the last 22 months. The 12 month average is 17.
– Sales Price to Listed Price: 88.8%. This figure typically falls in the high 80%’s to low 90%’s.
Homes Priced Between $1,500,000 – $1,999,999
– Actives: At the end of June, there were 246 homes for sale in this price point. This number is down 13.7% from May and is lower than the 12 month average of 285.
– Pendings: There were 15 pending sales, down one from May. However, this is still well ahead of the 12 month average of 10.
– Sold: Eight homes sold in June, ahead of the 12 month average of 7, but lower than May’s 11.
– Sales Price to Listed Price: 88.5%. This is pretty typical for this price segment.
Homes Priced Between $2,000,000 – $2,999,999
– Actives: 254 homes were for sale in this price point. The last time this figure was this low was in September of 2007. The 12 month average is 338.
– Pendings: There were 12 pending sales, double the 12 month average of 6. The last time pending sales were this high was June 2008.
– Sold: There were 5 sales in June, on par with the 12 month average.
– Sales Price to Listed Price: 85.4%. This figure has ranged anywhere from 77.3% to 91.7% in the last 12 months. Generally, it falls into the high 80%’s.
Homes Priced $3,000,000+
– Actives: There were 178 homes for sale for over $3 million. This is the first time this number has dipped into the 100’s in the 22 months I have been tracking. The 12 month average is 256.
– Pendings: Five homes were pending at the end of June. This is just behind the 12 month average of 6.
– Sold: Only two homes sold in June, only half of the 12 month average of four.
– Sales Price to Listed Price: 90.7%. This figure has been in the lower 80%’s since March, so it is nice to see it rebound into the 90%’s.
Most of the price segments performed pretty well in June, with the exception of the $3 million and above segment. The drop in active listings, strong pending sales figures and increase in sales are promising indicators for the Scottsdale luxury home market.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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.
Copyright © 2009 Heather Tawes Nelson
