– Scottsdale Luxury Home Market Performance for December 2021 –
December was another excellent month for the luxury home market in Scottsdale. The year closed out with very strong sales activity.
This analysis looks at the past year of sales activity for Scottsdale luxury homes. All of these homes were on the market for $1 million or more. To show additional detail, we have broken the luxury market into four price bands.
We track the following four 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 contracts.
Sold – How many homes sold over the course of the month.
– December 2021 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale remained at 54 at the end of December.
– UCB Scottsdale Home Sales: UCB contracts were only about half of what they were in November. This is the lowest we have seen them this low by far in 2021.
– Pending Scottsdale Home Sales: Pending sales also saw a dip, but it was more modest and was also the lowest we saw in 2021.
– Scottsdale Homes Sold: On a positive note, sales came in at 101, ahead of the 12 month average of 97.
– Sales Price to Listed Price: 99.5%- On average, buyers saw a discount of 0.5% off of asking price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory fell to its lowest level of 2021. There were only 38 homes for sale in this price point at the end of the year.
– UCB Scottsdale Home Sales: UCB were down slightly in December, but still turned in a decent performance.
– Pending Scottsdale Home Sales: The number of pending sales fell by 28% between November and December.
– Scottsdale Homes Sold: After seeing sales fall off between September through November, sales jumped back up in December to turn in the strongest monthly performance since August.
– Sales Price to Listed Price: 100.1% – On average, buyers paid just above list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory fell to the lowest level of 2021 in December. Compare this with January when there were more than one hundred homes for sale.
– UCB Scottsdale Home Sales: UCB contracts came in slightly lower, but they were pretty close to the 12 month average.
– Pending Scottsdale Home Sales: Pending sales were back up after falling lower in October and November.
– Scottsdale Homes Sold: Home sales were also up in December. The month closed with 36 sales, which is on par with the 12 month average.
– Sales Price to Listed Price: 97.0% – On average, buyers saw a discount of 3.0% off of asking price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was down slightly in this price point, but it still came in at one hundred.
– UCB Scottsdale Home Sales: There was a 62.5% drop in the number of UCB contracts after coming off a top performing November.
– Pending Scottsdale Home Sales: Pendings saw a slight dip, but they were still well above the 12 month average.
– Scottsdale Homes Sold: December saw the highest number of sales of all of 2021. An impressive 34 homes sold for in excess of $3 million.
– Sales Price to Listed Price: 97.9% – On average, buyers saw a discount of 2.1% 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 1/1/2022 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 ©2022 Heather Tawes Nelson | Joyce Tawes
