– Scottsdale Luxury Home Market Performance for November 2023 –
November was a mixed bag in terms of sales and sales activities. Some price points saw increased sales and contract activity and others declined. But, as we saw last month, inventory was up or level in all price points.
This report takes a look at the luxury home market in Scottsdale. We have broken the sales information into four price points to try and see the activity in more detail.
– NOVEMBER 2023 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale landed at the second-highest level we have seen in the past year. Inventory increased 20% between October and November.
– UCB Scottsdale Home Sales: UCB contracts closed out the month at 24. This is the second-lowest we have seen them in the past year.
– Pending Scottsdale Home Sales: Pendings saw another significant decline in November, dropping by 44.4%. The eighteen pending sales is incredibly lower than the 12 month average of 45.
– Scottsdale Homes Sold: While UCBs and pending fell in November, we did see a strong sales month in November.
– Sales Price to Listed Price: 96.9%- On average, buyers saw a discount of 3.1% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was level when looking at the end of October and November.
– UCB Scottsdale Home Sales: UCB contracts are moving back up after two tough months and closed out slightly ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales also moved up in November.
– Scottsdale Homes Sold: Thirty homes sold in November, the first increase after a few months of decline.
– Sales Price to Listed Price: 98.1% – On average, buyers saw a discount of 1.9% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory saw another jump in November to 173. This is very easily the highest we have seen it in the past year.
– UCB Scottsdale Home Sales: The number of UCB contracts fell 88.9% between October and November. This also is the lowest we have seen this by far in the past year.
– Pending Scottsdale Home Sales: Pending sales were down 40.9% in November and posted the worst performance we have seen in the past year.
– Scottsdale Homes Sold: On a positive note, sales were up slightly and the month closed out with 32 sales, on par with the 12 month average.
– Sales Price to Listed Price: 96.1% – On average, buyers saw a discount of 3.9% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The big run-up in inventory we saw in October slowed in November and there was only one net add at the end of the month.
– UCB Scottsdale Home Sales: The number of UCBs was up slightly to 17, on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales got right back into the game in November and closed out at the second-highest level of the past 12 months.
– Scottsdale Homes Sold: After an amazing October, sales fell significantly in November, closing out the month at 16. This is the second-lowest they have been in the past 12 months.
– Sales Price to Listed Price: 92.1% – On average, buyers saw a discount of 7.9% off of list price.
If you would like additional details on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.
Search Scottsdale Luxury Homes for Sale
Here is a sample of some luxury homes that are currently for sale:
MLS IDX Listing Disclosure © 2024
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2023 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
