– Scottsdale Luxury Home Market Performance for January 2022 –
Sales were down in the majority of the price ranges in January. We see this seasonally as people tend to take a break from home shopping over the holidays. We did see an uptick in pending sales though as buyers came back into the market.
This report covers the luxury home market in Scottsdale. All of these homes were priced at $1 million or more. And to show additional details, we have divided the luxury home market into four price ranges.
Each month, we track the following four things:
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 contracts there were.
Sold – The number of home sales.
– January 2022 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell quite a bit during January. This is bad news for buyers in an already competitive market.
– UCB Scottsdale Home Sales: The number of UCBs bounced back in January to 47. This figure may be being held back due to the low number of available homes.
– Pending Scottsdale Home Sales: Pending sales closed out at the highest level we have seen them since June 2021.
– Scottsdale Homes Sold: Sales in January were the lowest we have seen in the past 12 months. This is a seasonal dip we see.
– Sales Price to Listed Price: 99.8%- On average, buyers saw a discount of 0.2% 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 at the end of January was dismal. Only 31 homes were available to purchase.
– UCB Scottsdale Home Sales: The number of UCB contracts was up slightly to 28 and came in just ahead of the twelve month average.
– Pending Scottsdale Home Sales: Pending sales were up over 32% compared to December, and this is the highest we have seen them since May 2021.
– Scottsdale Homes Sold: Sales fell in January, as anticipated.
– Sales Price to Listed Price: 100.6% – 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 slightly between December and January to 38. Compare this to Febraury 2021 when there were 99 homes for sale.
– UCB Scottsdale Home Sales: The number of UCBs plummeted to by far the lowest level we have seen in the past year. The month ended with only 16 UCBs.
– Pending Scottsdale Home Sales: On a more positive note, pending sales were up over 35% month-over-month.
– Scottsdale Homes Sold: The number of homes sold fell slightly to 31.
– Sales Price to Listed Price: 99.3% – On average, buyers saw a discount of 0.7% off of asking price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Much needed inventory was added in January. The month closed with 107 homes for sale, on par with the 12-month average.
– UCB Scottsdale Home Sales: UCBs saw a nice rebound and closed out at the highest levels we have seen in the past year.
– Pending Scottsdale Home Sales: Pending sales dropped slightly to 42, but still came in ahead of the 12 month average.
– Scottsdale Homes Sold: A respectable 23 homes sold in January.
– Sales Price to Listed Price: 92.4% – On average, buyers saw a discount of 3.6% 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 2/1/2022 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
