– Scottsdale Luxury Home Market Performance for December 2022 –
December is usually a pretty quiet month as people are coming off of Thanksgiving and are celebrating the holidays. This December, we saw some areas with decent sales activity, but for the most part, sales performed as expected.
This report covers Scottsdale luxury homes and their sales patterns. We broke the data into four price ranges to show additional detail.
– DECEMBER 2022 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale in this price range fell by 24.6% between the end of November and the end of December. We saw a spike in inventory in September and October and have been trending lower since then.
– UCB Scottsdale Home Sales: The number of UCBs was up by one at the end of the month. This is still quite low.
– Pending Scottsdale Home Sales: Pending contracts were up 24.3% after a poor performance in November.
– Scottsdale Homes Sold: Home sales fell to their lowest levels of the year. This is not surprising based off the low pending number of contracts in November.
– Sales Price to Listed Price: 94.5%- On average, buyers saw a discount of 5.5% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory continued to decrease in December.
– UCB Scottsdale Home Sales: UCBs fell to their lowest level of the year. Again, this is not surprising based on the time of year.
– Pending Scottsdale Home Sales: The number of pendings also hit their lowest level of the year.
– Scottsdale Homes Sold: And since there were not a lot of contracts in the pipeline at the end of November, sales were also at the lowest level of the year.
– Sales Price to Listed Price: 91.1% – On average, buyers saw a discount of 8.9% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory in this price point continues to fall, putting us closer to where were in July and August.
– UCB Scottsdale Home Sales: UCB contracts have remained more or less level over the past three months.
– Pending Scottsdale Home Sales: Pending sales fell of slightly between November and December.
– Scottsdale Homes Sold: After a dismal November, sales were up 44.4% in December. This is the best sales month in this price point since around June.
– Sales Price to Listed Price: 93.5% – On average, buyers saw a discount of 6.5% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was down 7.1% between the end of November and the end of December.
– UCB Scottsdale Home Sales: UCB contracts had a terrible month, closing out at 8. But, this can be attributed to seasonality.
– Pending Scottsdale Home Sales: Pending sales also had a poor month, coming in the lowest we have seen in the past year.
– Scottsdale Homes Sold: Sales were also off in December. There were 17 sales, down 29.4% from November. Again, December is not usually a big sales month.
– Sales Price to Listed Price: 95.4% – On average, buyers saw a discount of 4.6% 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 1/1/2023 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 ©2023 Heather Tawes Nelson | Joyce Tawes
