– Scottsdale Luxury Home Market Performance for June 2022 –
We are now seeing a general slowdown in Scottsdale’s luxury home market. Even though there was plenty of activity in June, sales and contracts fell for the most part.
This report covers luxury homes in Scottsdale with price points at or above $1 million. To show more detail, we have broken the data into four different price bands.
We look at the four items below each month:
Active – The number of homes for sale 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.
Sold – How many homes sold.
– June 2022 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory jumped over 25% between the end of May and the end of June. We are now at more than twice the 12 month average. This is great news for buyers.
– UCB Scottsdale Home Sales: The number of UCBs was down in June, but still turned in a decent showing.
– Pending Scottsdale Home Sales: Pending sales fell to their lowest levels in the past year.
– Scottsdale Homes Sold: Over 100 homes sold last month, which is a solid performance. This is ahead of the 12 month average.
– Sales Price to Listed Price: 98.8%- On average, buyers saw a discount of 1.2% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale was up over 30% compared to the previous month. This is more than twice than the 12 month average.
– UCB Scottsdale Home Sales: UCB contracts fell in June after two incredibly strong months. However, this figure is not too far off when you look at the other months.
– Pending Scottsdale Home Sales: The number of pending sales fell sharply after five very solid months of activity.
– Scottsdale Homes Sold: June posted the highest number of sales we have seen in the past year, closing out with 62 sales.
– Sales Price to Listed Price: 99.3% – On average, buyers saw a discount of 0.7% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was up for the fifth month in a row. We have not seen inventory at over 100 for at least a year.
– UCB Scottsdale Home Sales: The number of UCBs rebounded to 23 in June. This is very close to the 12 month average.
– Pending Scottsdale Home Sales: The number of spending fell to 31, which is still a solid performance.
– Scottsdale Homes Sold: After three very strong months, sales were back down to levels we saw earlier in the year.
– Sales Price to Listed Price: 99.4% – On average, buyers saw a discount of 0.6% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was up over 20% in June compared to May.
– UCB Scottsdale Home Sales: The number of UCB contracts fell to 20, coming in just under the 12 month average.
– Pending Scottsdale Home Sales: Pending sales went back to around where they were earlier in the year.
– Scottsdale Homes Sold: Sales in June were still very strong. June posted the 4th highest sales month in the past year.
– Sales Price to Listed Price: 95.8% – On average, buyers saw a discount of 4.2% off of list 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 7/1/2022 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
