Scottsdale AZ Luxury Home Market – June 2017

– Scottsdale AZ Luxury Home Market Performance for June 2017 –

This is a monthly report that analyzes the luxury home market in Scottsdale. In this report, we are taking a look at homes that were listed for $1 million or higher. In order to provide more detailed information, I split these homes into four categories based on price point.

In each category, you will find the following information:

Active – The number of homes for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but accepting backup offers at the end of the month.
Pending  – The number of pending homes sales at the end of the month.
Sold – How many homes sold during the month.

– JUNE 2017 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: Inventory fell into the 270’s by the end of June. This is similar to where it was last year at this time.
– UCB Scottsdale Home Sales: The number of UCB homes dropped to 21, the lowest we have seen since we started tracking this metric.
– Pending Scottsdale Home Sales: Pending home sales fell a little bit to 32, but they were still strong and higher than the 12 month average.
– Scottsdale Homes Sold:  An incredible 53 homes sold in June. This is much higher than we have been seeing.
– Sales Price to Listed Price: 95.5% – On average, buyers saw a discount off of list price of 4.5%.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: The number of homes for sale in this price point fell to 185.
– UCB Scottsdale Home Sales: The number of UCB homes stayed strong at  12, coming in at the 6 month average.
– Pending Scottsdale Home Sales: Pending sales were down, but this is in comparison to two very strong sales months in April and May.
– Scottsdale Homes Sold: Twenty-four homes sold in this price range, well ahead of any other month in the past year.
– Sales Price to Listed Price: 94.8% – On average, buyers saw a discount off of list price of 5.2%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: Inventory fell quite a bit to 151 homes at the end of June.
– UCB Scottsdale Home Sales: UCB homes stayed level with 8 homes.
– Pending Scottsdale Home Sales: Pending sales were also level with 10.
– Scottsdale Homes Sold: An impressive eleven homes sold in June, making this the second highest sales month in the past year (tied with April.)
– Sales Price to Listed Price: 90.6% – On average, buyers saw a discount off of list price of 9.4%

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory in this price point fell to 110, similarly to where we saw it this time last year.
– UCB Scottsdale Home Sales: There were three homes in UCB status.
– Pending Scottsdale Home Sales:  Three homes were pending at the end of June. This is what we saw in May as well.
– Scottsdale Homes Sold:  Six homes sold, which is a very strong performance for this price range.
– Sales Price to Listed Price: 90.1% – On average, buyers saw a discount off of list price of 9.9%.

Scottsdale’s luxury home market had another great month with spectacular sales in the under $3 million price point. Homes priced $3 million and above also had a very good month.

UCB and pending home sales were down, so I anticipate July will be a little slower.

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 7/1/2017 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