– Scottsdale AZ Luxury Home Market Performance for May 2017 –
This report takes a look at the luxury home market in Scottsdale over the past year. All of these homes were listed above $1 million. To provide additional detail, the homes are broken into four price segments.
Within each segment, you will find the following information:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes under contract, but accepting backup offers at the end of the month.
Pending -How many pending sales there were at the end of the month.
Sold – The number of home sales over the course of the month.
– MAY 2017 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell another 12% between April and May due to strong sales and homeowners taking their homes off of the market for the summer.
– UCB Scottsdale Home Sales: UCB homes were up to 35 at the end of May. This is the highest we have seen this since we started tracking UCBs a few months back.
– Pending Scottsdale Home Sales: Pending home were also up to 35, well ahead of the 12 month average and tied for the highest we have seen in the past year.
– Scottsdale Homes Sold: Thirty-seven homes sold in May. It was another great sales month.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 6.1%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory dropped over 10% between April and May after several months of increases.
– UCB Scottsdale Home Sales: UCB homes ended the month at 10, slightly under the five-month average.
– Pending Scottsdale Home Sales: Pending sales ended the month at an incredible 24. This is more than double the 12 month average and is by far the highest we have seen this figure in the past year.
– Scottsdale Homes Sold: Sixteen homes sold in May, another excellent performance.
– Sales Price to Listed Price: 93.4% – On average, buyers saw a discount off of list price of 6.6%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory dropped under the 200 mark to close out the month with 189 homes for sale. This is still ahead of the 12-month average.
– UCB Scottsdale Home Sales: UCB status homes ended May at 8. This is the second highest we have seen this since we started tracking UCBs.
– Pending Scottsdale Home Sales: Pending sales doubled to 10 at the end of the month. This is the third highest we have seen this in the past year.
– Scottsdale Homes Sold: Only five homes sold in this price range. This is much lower than we have been seeing.
– Sales Price to Listed Price: 90.9% – On average, buyers saw a discount off of list price of 9.1%
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale fell almost 9% to 133 at the end of the month.
– UCB Scottsdale Home Sales: Only two homes were in UCB status at the end of May.
– Pending Scottsdale Home Sales: Pending sales were also lower at three. This is slightly below the 12 month average of 5.
– Scottsdale Homes Sold: An incredible 12 homes sold in the $3 million-plus range in May. This was a fantastic sales month.
– Sales Price to Listed Price: 88.3% – On average, buyers saw a discount off of list price of 11.7%.
May was another great month for the luxury home market in Scottsdale. Some segments saw incredible sales activity, while others have really solid pending inventory. June should be another good month.
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.
Search Scottsdale Luxury Homes for Sale
Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2017 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
