– Scottsdale AZ Luxury Home Market Performance for January 2016 –
The Scottsdale luxury home market had a mixed month in January. While we usually see a seasonal slowdown due to the holidays, some of the price points in the luxury segment had a strong month.
This report provides an overview of the luxury home market in Scottsdale, or homes priced at $1 million and above. It tracks the past year of data and is broken down into various price segments to show additional detail.
Each price segment includes the following sales data:
Active – How many homes were for sale at the end of the month.
Pending – How many sales were pending at the end of the month.
Sold – How many homes sold that month.
– JANUARY 2016 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up almost 14% by the end of the month to 339. This is well ahead of the 12 month average of 294 homes.
– Pending Scottsdale Home Sales: Pending sales were up 28.6% too 18 homes. However, this is well below the 12 month average of 24.
– Scottsdale Homes Sold: Sixteen homes sold in January, a large drop from December’s 29. However, this can be attributed to seasonality.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list of 6.1%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory surged here as well. It was up 16.4% over the end of December.
– Pending Scottsdale Home Sales: Pending sales were the absolute lowest we have seen in the past year, at almost half of the worst performing month. This is something to keep an eye on.
– Scottsdale Homes Sold: On the other hand, the sales in January in this price point were solid at eleven.
– Sales Price to Listed Price: 94.8% – On average, buyers saw a discount off of list of 2.1%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was up to 212 by the end of January. This is well above the 12 month average of 169.
– Pending Scottsdale Home Sales: Pending sales were also way off in January to four. This is the lowest we have seen this figure in the past year.
– Scottsdale Homes Sold: Eight homes sold, which is a strong performance for this price point.
– Sales Price to Listed Price: 91.1% – On average, buyers saw a discount off of list of 8.9%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up almost 15% at the end of the month.
– Pending Scottsdale Home Sales: Pending sales were actually up to six, after trending at five for six months straight.
– Scottsdale Homes Sold: Six homes sold in January, the best performance since June of 2015.
– Sales Price to Listed Price: 95.3% – On average, buyers saw a discount off of list of 4.7%.
January was a month of hits and misses. One of the concerning things is the increase in inventory. While we normally see a rebound in January, all of the price points are well ahead of their 12 month averages.
Pendings were a mixed bag with two of the segments performing very poorly and two doing quite well.
With the exception of the $1,000,000 to $1,500,000 price range, home sales were strong as well.
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.
Search Scottsdale Luxury Homes for Sale
Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2016 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There January 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
