Scottsdale AZ Luxury Home Market – November 2017

– Scottsdale AZ Luxury Home Market Performance for November 2017 –

This is an analysis of the luxury home market in Scottsdale in November. This report covers the sales activity of homes prices in excess of $1 million and the activity has been broken into four price bands to provide additional detail.

The four sales activities we are tracking are:
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 still accepting backup offers at the end of the month.
Pending  – The number of homes showing pending at the end of the month.
Sold –  How many homes sold during the month.

– NOVEMBER 2017 –

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

– Active Scottsdale Homes on the Market: Inventory jumped over 11% between October and November, surpassing the 12 month average of 314.
– UCB Scottsdale Home Sales: UCBs ended the month at 21. This is on the lower end of what we have been seeing over the past 11 months.
– Pending Scottsdale Home Sales: Pending sales were up by two to 23 at the end of the month.
– Scottsdale Homes Sold: Thirty-one homes sold in November.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 7.1%

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

– Active Scottsdale Homes on the Market: Inventory fell slightly to 212 at the end of the month.
– UCB Scottsdale Home Sales: UCB’s were up to 13, which is ahead of the 11 month average of 11.
– Pending Scottsdale Home Sales: Pending sales were very healthy at 15. This is the most activity we have seen in this price point since the high season earlier in the year.
– Scottsdale Homes Sold: The number of homes sold saw a huge rebound over a very slow October. Eleven homes sold.
– Sales Price to Listed Price: 94.9% – On average, buyers saw a discount off of list price of 5.1%.

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

– Active Scottsdale Homes on the Market:  Inventory increased for the second month in a row to 177. This is ahead of the 12 month average.
– UCB Scottsdale Home Sales: UCBs were up by one to five at the end of the month.
– Pending Scottsdale Home Sales: Pending sales saw a nice jump to the highest level we have seen in the past 12 months.
– Scottsdale Homes Sold:  Nine homes sold during the month, slightly ahead of the 12 month average of eight.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: The number of homes for sale was up slightly over October.
– UCB Scottsdale Home Sales: UCBs had a healthy rebound over October. We ended the month with five, slightly ahead of the 11 month average.
– Pending Scottsdale Home Sales: Pending sales fell after a fantastic October. However, the four pendings were right on par with the 12 month average.
– Scottsdale Homes Sold:  Seven homes sold in November. This volume is what we would expect during the high season.
– Sales Price to Listed Price: 93.4% – On average, buyers saw a discount off of list price of 6.6%.

November was a surprisingly strong month for many of the price segments, in a period where we typically see sluggish activity.

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 12/1/2017 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