– Scottsdale AZ Luxury Home Market Performance for July 2017 –
Here is an overview of the luxury home market in Scottsdale. All of these homes have list prices in excess of $1 million. The report covers the past twelve months of sales activity and is split into four price bands for additional detail.
In each of the price bands, you will find the following information:
Active – How many homes were on the market the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were 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 homes that sold that month.
– JULY 2017 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale fell 11.8% from the end of June. This dropoff is seasonal in nature.
– UCB Scottsdale Home Sales: UCB homes rebounded to 27 by the end of the month, on par with the 7 month average.
– Pending Scottsdale Home Sales: Pending sales dropped to 25 after several strong months. However, this is still a solid figure for this time of year.
– Scottsdale Homes Sold: Home sales came in at 33, on par with the 12 month average.
– Sales Price to Listed Price: 92.3% – On average, buyers saw a discount off of list price of 7.7%.
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 dropped to 162, which is close to what this figure was at the same time last year.
– UCB Scottsdale Home Sales: UCB homes dropped to 9. This is under the 7 month average.
– Pending Scottsdale Home Sales: Pending sales fell to 7, the second lowest we have seen in the past twelve months.
– Scottsdale Homes Sold: Nineteen homes sold in July. This was another excellent sales month and it came in well ahead of the 12 month average of 13.
– Sales Price to Listed Price: 95.4% – On average, buyers saw a discount off of list price of 4.6%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Homes for sale in this price band fell to 137, 9.3% lower than the end of June.
– UCB Scottsdale Home Sales: UCB sales stayed at 8 for the third month in a row.
– Pending Scottsdale Home Sales: Pending sales were down by one to eight. This is ahead of the twelve month average.
– Scottsdale Homes Sold: Six homes sold in July, a decent performance.
– Sales Price to Listed Price: 93.3% – On average, buyers saw a discount off of list price of 6.7%
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory finished the month at 100, the lowest we have seen in the past 12 months.
– UCB Scottsdale Home Sales: There were one two homes in UCB status at the end of July.
– Pending Scottsdale Home Sales: Six homes were pending, which is excellent. This is the third highest we have seen this figure in the past year.
– Scottsdale Homes Sold: Only a single home sold for over $3 million. However, there is strong pending inventory, so this should come back up in August.
– Sales Price to Listed Price: 94.9% – On average, buyers saw a discount off of list price of 5.1%.
Scottsdale’s luxury home market performance was mixed in July. We saw the seasonal decreases in inventory and activity. However, there are some promising pending figures in some of the price bands.
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 8/1/2017 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
