– Scottsdale Luxury Home Market Performance for May 2021 –
With the exception of one price point, luxury home sales in Scottsdale accelerated for yet another month!
This analysis looks at luxury home sales activity in Scottsdale. I am using an asking price point of $1 million or more to qualify these homes as luxury homes. To see even greater detail, the information has been split into four price ranges.
We track the following sales metrics on a monthly basis:
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.
– May 2021 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up again slightly at the end of May, but we are still trailing the 12 month average of 100 homes for sale.
– UCB Scottsdale Home Sales: The number of homes in UCB status was level between April and May.
– Pending Scottsdale Home Sales: Pending sales saw a 43.9% drop between April and May. Although April 2021 had the highest UCB count we have ever seen.
– Scottsdale Homes Sold: Home sales jumped in May to 123! This was the second-highest sales month on record for this price point.
– Sales Price to Listed Price: 100.1% – On average, buyers paid 0.1% over asking prices.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory saw a healthy 20% boost by the end of May, but it is still about half of what it was this time last year.
– UCB Scottsdale Home Sales: UCBs rebounded in May and this was the third-highest we have seen them in the past year.
– Pending Scottsdale Home Sales: Pending sales were up by one at the end of the month, also coming in with a third-highest placement.
– Scottsdale Homes Sold: Another sales record was set in May. An unprecedented 65 homes sold in this price range.
– Sales Price to Listed Price: 99.6% – On average, buyers saw a discount off of list price of 0.4%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory continued its slide. It has been steadily dropping since September of 2020.
– UCB Scottsdale Home Sales: UCB contracts closed out the month one higher than we saw in April.
– Pending Scottsdale Home Sales: Pending sales were also up by one in May and this is the second-highest we have seen in this price point.
– Scottsdale Homes Sold: Sales fell in May after an incredible April performance.
– Sales Price to Listed Price: 99.0% – On average, buyers saw a discount off of list price of 1.0%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale fell slightly, but was on par with the 12 month average.
– UCB Scottsdale Home Sales: After seeing a jump in April, the number of UCB contracts was back down in May.
– Pending Scottsdale Home Sales: Pending sales were the highest we have ever seen in the $3+ milllion price point.
– Scottsdale Homes Sold: And sales also set a record. In May, 33 homes priced over $3 million sold!
– Sales Price to Listed Price: 96.0% – On average, buyers saw a discount off of list price of 4.0%.
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 6/1/2021 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 ©2021 Heather Tawes Nelson | Joyce Tawes
