– Scottsdale AZ Luxury Home Market Performance for September 2015 –
Sales in September in Scottsdale’s luxury home category continued on at a quiet pace. However, we did see large jumps in inventory.
In this report, we will be looking at the luxury home segment in Scottsdale, Arizona. These homes were all priced at above $1 million and the information has been broken down into four price ranges.
Each price range includes the following sales information:
Active – How many homes were on the market at the end of the month.
Pending – How many home sales were pending at the end of the month.
Sold – How many homes sold over the course of the month.
– September 2015 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale was up almost 10% over the previous month.
– Pending Scottsdale Home Sales: Pending sales dropped off to the second lowest level we have seen in the past 12 months.
– Scottsdale Homes Sold: Sales held at 22 for the month, which is a solid performance for this seasonally-slower time of year.
– Sales Price to Listed Price: 93.1% – This is a little bit lower that we have been seeing over the past few months.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: In this price range, inventory jumped 15% over the previous month to 144.
– Pending Scottsdale Home Sales: Pendings saw a decent uptick to twelve. This is just slightly below the 12 month average of thirteen.
– Scottsdale Homes Sold: Only five homes sold in September. This is the lowest it has been in the past twelve months and is half of the 12 month average.
– Sales Price to Listed Price: 96.2% – This is the highest we have seen this figure in the past year.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: There was a marked jump in the number of homes for sale – an increase of 21%.
– Pending Scottsdale Home Sales: This price range also saw a nice increase in pending sales. There were eight at the end of September, which is on par with the 12 month average.
– Scottsdale Homes Sold: Three homes sold in September, the lowest we have seen in the past 12 months. This is less than half of the 12 month average of seven.
– Sales Price to Listed Price: 93.9% – This is a pretty representative number for this price band.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Again, the number of homes for sale was up, this time with a 6.7% increase.
– Pending Scottsdale Home Sales: Pending sales were level at five for the third month in a row.
– Scottsdale Homes Sold: There were two home sales in September for over $3 million. This is nice to see after the previous two months of slow sales activity.
– Sales Price to Listed Price: 92.4% – This is a little on the higher end of where we usually see this figure.
Luxury home sales activity in Scottsdale turned in a mixed performance. The large increases in inventory were a little surprising, but since the market is in better shape these days, sellers may want to have their homes on the market in advance of the high season. Sales activity was mixed, with some price ranges performing and others lagging.
If you would like additional detail on home sales activity, please visit my 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 was pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2015 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There September 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 implied or expressed.
Copyright © 2015 Heather Tawes Nelson | Joyce Tawes
