– Scottsdale AZ Luxury Home Market Performance for December 2015 –
The luxury home market in Scottsdale finished off the year with very strong sales in the under $3 million price point. However, pending activity dropped off a bit.
This report takes a look at Scottsdale’s luxury home market and contains tracking data over the past year. Since activity can vary by price range, I separated the homes into four different price ranges. Each price range includes the following sales data:
Active – The number of homes were for sale at the end of the month.
Pending – The number of pending sales at the end of the month.
Sold – The number of monthly home sales.
– DECEMBER 2015 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell slightly to 298 at the end of the year.
– Pending Scottsdale Home Sales: Pending sales fell by over 41% between November and December. We see this decrease annually as people take a break from home shopping during the holidays.
– Scottsdale Homes Sold: Sales jumped 52.6% over the previous month to 29. This is ahead of the 12 month average of 27 home sales.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list of 5.6%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was up almost 3% in this price point.
– Pending Scottsdale Home Sales: We saw large dip in pending sales here as well.
– Scottsdale Homes Sold: Twelve homes sold in December, which ties for the second highest sales month of 2015.
– Sales Price to Listed Price: 94.8% – On average, buyers saw a discount off of list of 5.2%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory moved up again in December, ending the month at 199.
– Pending Scottsdale Home Sales: There were nine pending sales at the end of the month, on par with the 12 month average.
– Scottsdale Homes Sold: Nine homes sold in December, tripling what we saw in the previous month. This is the highest this figure has been since March 2015.
– Sales Price to Listed Price: 97.5 – On average, buyers saw a discount off of list of 2.5%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory scooted up a little higher by the end of the month.
– Pending Scottsdale Home Sales: Pending sales were level for the sixth month in a row at 5.
– Scottsdale Homes Sold: This is the only price point where sales were lower than the previous month. However, 3 home sales is a respectable figure.
– Sales Price to Listed Price: 101.2% – There was no average discount off of list. In December 2015, the average price paid exceeded the list price.
December was an excellent end to the Scottsdale luxury home market’s 2015. Inventory was up only slightly and sales were very strong, (especially in the lower luxury price points. Pending sales saw a seasonal trail-off, which points to a slow January.
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 1/1/2016 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There December 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 © 2016 Heather Tawes Nelson | Joyce Tawes
