– Scottsdale Luxury Home Market Performance for April 2023 –
Sales activity in the luxury home market was mixed in April, but still delivered a solid performance.
This report looks at the luxury home market in Scottsdale. All of the homes were listed for $1 million or more. To show more granular data, we have separated the sales activity into four different price ranges.
– APRIL 2023 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was down over 10% between the end of March and the end of April. This is the second lowest we have seen it in the past year.
– UCB Scottsdale Home Sales: The number of UCBs jumped 34.4% month-over-month. April posted the highest number of UCB contracts we have seen in the last year.
– Pending Scottsdale Home Sales: The number of pending sales was also up in April, coming in with the second-highest performance in the past 12 months.
– Scottsdale Homes Sold: After a very impressive March, home sales fell quite a but in April. However, the pending pipeline indicates that May might see an increase in sales again.
– Sales Price to Listed Price: 96.2%- On average, buyers saw a discount of 3.8% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes on the market fell 17.5% month-over-month. Inventory is now at the second lowest we have seen in the past year.
– UCB Scottsdale Home Sales: The number of UCB contracts surged in April and was the highest-performing month of the past year.
– Pending Scottsdale Home Sales: Pending sales saw a modest increase over March, but also tied for the highest level we have seen in the past 12 months.
– Scottsdale Homes Sold: There were 46 sales in April, coming in ahead of the 12 month average of 39.
– Sales Price to Listed Price: 97.3% – On average, buyers saw a discount of 2.7% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was down slightly in April, but is still trending very high.
– UCB Scottsdale Home Sales: UCB contracts were up by one at the end of the month, making it the highest-performing month we have seen in the past year.
– Pending Scottsdale Home Sales: Pending sales were up over 23% over March. And, this was the second-highest number of pendings in the past year.
Scottsdale Homes Sold: Home sales fell to 31 in April. This was a decent performance, but we are anticipating a rebound in May based on pending activity.
– Sales Price to Listed Price: 94.8% – On average, buyers saw a discount of 5.2% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was at the highest level we have seen in the past year.
– UCB Scottsdale Home Sales: UBC contract activity was level with March at 29, tied for the highest level e have seen in UCBs in the past year.
– Pending Scottsdale Home Sales: Pending sales were also up to 33, just slightly ahead of the 12 month average of 32.
– Scottsdale Homes Sold: After very strong sales in March, sales in April fell quite a bit. We are hopeful that the pending inventory will result in a better sales month in May.
– Sales Price to Listed Price: 92.8% – On average, buyers saw a discount of 7.2% 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 5/1/2023 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
