– Scottsdale Luxury Home Market Performance for November 2021 –
November was a decent sales month for luxury homes.
This report covers the past twelve months of luxury home sales activity in Scottsdale. All of the homes were priced a $1,000,000 or more. Also, to make it easier to see how sales are going, we divided the luxury home market into four price bands.
We track the following four metrics on a monthly basis:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still accepting backup offers at the end of the month.
Pending – How many pending sales there were.
Sold – The number of home sales for that month.
– November 2021 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell significantly between October and November, partially due to very strong sales in this price point.
– UCB Scottsdale Home Sales: UCB contracts were up by one at the end of the month.
– Pending Scottsdale Home Sales: Pending sales were also up slightly, closing out at fifty-nine.
– Scottsdale Homes Sold: The number of homes sold rebounded significantly. One hundred homes sold in this price range in November.
– Sales Price to Listed Price: 97.4% – On average, buyers saw a discount of 2.6% off of asking price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale dropped to the lowest level we have seen the past year.
– UCB Scottsdale Home Sales: UCB contracts bounced back up in November, coming in on par with twelve month average.
– Pending Scottsdale Home Sales: Pending sales were up 21.9% over October, landing at thirty-two.
– Scottsdale Homes Sold: The number of homes sold was down. This was the third slowest sales month of the past year. However, with the decent UCB and pendings in the pipeline, we should see this figure increase in December.
– Sales Price to Listed Price: 97.4% – On average, buyers saw a discount of 2.6% off of asking price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale fell to the lowest level of the past year. Last December, there were 124 homes on the market compared to November 2021’s 57 homes.
– UCB Scottsdale Home Sales: The number of UCBs was up again for the second month in a row.
– Pending Scottsdale Home Sales: Pending sales were up slightly, but were still well below the twelve month average.
– Scottsdale Homes Sold: The number of homes sold was down by one. Sales activity has been more or less level for the past five months.
– Sales Price to Listed Price: 100.1% – On average, buyers paid just above list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale fell about 5% between October and November.
– UCB Scottsdale Home Sales: UCB contracts jumped by 34.6% in November! This is the highest we have seen this figure since Spring 2021.
– Pending Scottsdale Home Sales: Pendings were also up significantly and November was the top performing month of the past year.
– Scottsdale Homes Sold: Sales fell to the second lowest we have seen in the past year. However, with such strong UCB and pending activity, this number should jump in December.
– Sales Price to Listed Price: 97.4% – On average, buyers saw a discount of 2.6% off of asking price.
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 12/1/2021 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
