– Scottsdale Luxury Home Market Performance for September 2020 –
It was another incredibly impressive month for the luxury home market in Scottsdale. Typically, we see activity slow quite a bit around this time of year, but the current demand is very strong.
This report looks at luxury homes in Scottsdale that were listed for $1 millon or more. To show additional detail, we have broken the data into four price ranges.
Each month, we follow the following four items:
Active – The number of homes on the market 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 pending sales at the end of the month.
Sold – How many homes sold that month.
– September 2020 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up slightly at the end of the month.
– UCB Scottsdale Home Sales: The number of UCBs stayed level at 60.
– Pending Scottsdale Home Sales: Pending sales fell 7.7%, but they were still much higher than the 12 month average of 38.
– Scottsdale Homes Sold: September saw an unprecedented 89 homes sales. I have been tracking this since 2007, and I have never seen them that high.
– Sales Price to Listed Price: 97.1% – On average, buyers saw a discount off of list price of 2.9%.
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 range dropped almost 20% due to strong sales activity and less inventory coming onto the market.
– UCB Scottsdale Home Sales: UBCs jumped to 30 in September, the second highest they have been in the past year.
– Pending Scottsdale Home Sales: Pending sales closed out the month up by one.
– Scottsdale Homes Sold: This price point also had an unprecedented sales month. Forty-three homes sold. This is the highest it has been since I started tracking this.
– Sales Price to Listed Price: 97.0% – On average, buyers saw a discount off of list price of 3%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: There was a healthy 16% increase in inventory in this price range. The month closed out with 161 homes for sale.
– UCB Scottsdale Home Sales: UCB contracts more than doubled month-over-month, and came in at twice the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were down by one.
– Scottsdale Homes Sold: Twenty-one homes sold. This is the second highest sales activity we have seen in the past year.
– Sales Price to Listed Price: 95.8% – On average, buyers saw a discount off of list price of 4.2%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up 16% in this price range as well.
– UCB Scottsdale Home Sales: UCBs fell to twelve, but were still the second-highest in the past 12 months.
– Pending Scottsdale Home Sales: Pending sales tied July for having the most sales in the past year.
– Scottsdale Homes Sold: Home sales were down by one, but September was still the second best month for home sales over $3 million.
– Sales Price to Listed Price: 96.4% – On average, buyers saw a discount off of list price of 3.6%.
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 10/1/2020 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 ©2020 Heather Tawes Nelson | Joyce Tawes
