– Scottsdale AZ Luxury Home Market Performance for December 2016 –
The luxury home market in Scottsdale ended the year with a solid performance, especially in the lower price segments.
The following analysis reviews the real estate sales activity in the luxury segment over the previous twelve months. Since we are up to December, you will see each month in 2016’s results.
This data has been broken down into four price segments to allow for greater detail. In each price segment, you will see 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 homes sold that month.
– DECEMBER 2016 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory dropped slightly to 325. This comes in just under the 12 month average of 328.
– Pending Scottsdale Home Sales: Pending sales remained the same at twenty-one. This is under the 12 month average of 24.
– Scottsdale Homes Sold: Thirty-six home sales took place in December, a 28.6% increase over November. This is also well ahead of the 12 month average of 28.
– Sales Price to Listed Price: 93.4% – On average, buyers saw a discount off of list price of 6.6%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory dropped here as well to 201 by the end of the month.
– Pending Scottsdale Home Sales: Pending sales dropped when compared to November, but they are on track with what we have been seeing over the past few months before that.
– Scottsdale Homes Sold: Sales came in at fourteen again. This is another great performance for this price segment.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 6.1%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was down slightly and came in on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were strong at nine. This is up over the last few months and is on par with the 12 month average.
– Scottsdale Homes Sold: There were eight sales in December, which is great for this price point.
– Sales Price to Listed Price: 94.2% – On average, buyers saw a discount off of list price of 5.8%
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up 8.2% in the over $3 million price point. This is unusual as you typically see the number of homes for sale fall off at this time of year.
– Pending Scottsdale Home Sales: Pending sales were low at two. This is one-third of the 12 month average.
– Scottsdale Homes Sold: There were only two home sales again in this price point. This is half of the 12 month average.
– Sales Price to Listed Price: 92.8% – On average, buyers saw a discount off of list price of 7.2%.
December was another excellent sales month for Scottsdale’s luxury home market, with the exception of the $3 million and above price point. I am looking forward to seeing what 2017 brings.
If you would like additional detail on home sales activity, please visit our 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 were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2017 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 expressed or implied.
Copyright © 2017 Heather Tawes Nelson | Joyce Tawes
