– Scottsdale Luxury Home Market Performance for June 2019 –
In June, the Scottsdale luxury home market saw the first bit of slowing as we head deeper into the summer months.
In this report, we break the luxury home market into four price ranges for better detail and track the following items on a monthly basis:
Active – The number of homes for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were under contract, but still accepting backup offers at the end of the month.
Pending – The number of homes that were in pending status at the end of the month.
Sold – How many homes sold during the month.
– JUNE 2019 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell due to strong sales and homes coming off of the market during the slow season.
– UCB Scottsdale Home Sales: UCB sales fell quite a bit between May and June. However, this is on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales fell over 40% from May, closing out June at 20. This is similar to where this price point was in December 2018 and January 2019.
– Scottsdale Homes Sold: Sales were quite good in June. There were 48 sales during the month.
– Sales Price to Listed Price: 95.2% – On average buyers saw a discount off of list price of 4.8%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory in this price point also was down due to sales activity and seasonality.
– UCB Scottsdale Home Sales: The number of UCBs fell to seven, which is less than the 12 month average of nine.
– Pending Scottsdale Home Sales: Pending sales fell by 30% to close out the month at fourteen.
– Scottsdale Homes Sold: There were 27 home sales in June. This was the third-highest number of monthly sales of the past year.
– Sales Price to Listed Price: 95.6% – On average, buyers saw a discount off of list price of 4.4%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: There was a big drop in the number of homes for sale between May and June. Again, this is based on sales activity and seasonality.
– UCB Scottsdale Home Sales: UCB contracts also tapered off, closing out the month with seven.
– Pending Scottsdale Home Sales: While UCBs were down, pending sales came in with the best performance of the past year with twenty-one!
– Scottsdale Homes Sold: There were fifteen home sales in June, which was a strong performance.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory dropped quite a bit to end the month with 128 active listings above $3 million.
– UCB Scottsdale Home Sales: UCBs fell to the lowest level we have seen since September 2018.
– Pending Scottsdale Home Sales: The number of pending sales was solid, coming in at five. This is on par with the 12 month average.
– Scottsdale Homes Sold: Ten homes sold in this price range, which is excellent. This is the second highest we have seen this in the past 12 months.
– Sales Price to Listed Price: 93.3% – On average, buyers saw a discount off of list price of 6.7%.
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 7/1/2019 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 ©2019 Heather Tawes Nelson | Joyce Tawes
