– Scottsdale AZ Luxury Home Market Performance for October 2015 –
October’s luxury home sales in Scottsdale were level in October. Again, though, we saw inventory increase quite a bit.
This report looks at the monthly performance of luxury home sales in Scottsdale, Arizona. The data goes back twelve months and is split into four price-related categories. To be considered a luxury home for the purposes of this analysis, the asking price needs to be $1 million and above.
Each of the price segments tracks the following sales information:
Active – The number of homes for sale at the end of the month.
Pending – The number of pending sales at the end of the month.
Sold – The number of homes that sold over the course of the month.
– OCTOBER 2015 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory jumped 19.4% between September and October to 302 homes. This is above the 12 month average of 295 homes.
– Pending Scottsdale Home Sales: Pending sales were also up by two at the end of the month to 20.
– Scottsdale Homes Sold: Sales dropped slightly to 20 homes. This is less than the 12 month average of 26 sales.
– Sales Price to Listed Price: 93.6% – This is pretty on par with what we have been seeing in this price range.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: This price point saw a 17.4% increase in the number of homes for sale when compared to the previous month.
– Pending Scottsdale Home Sales: The number of pending sales was up by one to 13 by the end of October.
– Scottsdale Homes Sold: Seven homes sold in October, which is an improvement of September’s five sales. However, this is still tracking below the 12 month average.
– Sales Price to Listed Price: 90.6% – This is a bit lower than we typically see this figure.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale in this price range jumped 22.2% between September and October and is now above the 12 month average figure.
– Pending Scottsdale Home Sales: At the end of the month, six homes were pending. This is down from September, but in line with what we have been seeing for the past several months.
– Scottsdale Homes Sold: Five homes sold in October, which is an improvement from September. However, this is still below the twelve month average.
– Sales Price to Listed Price: 90.7% – This is a little lower than we typically see this figure.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: There was a 19.6% increase in inventory in this segment as well.
– Pending Scottsdale Home Sales: Pending sales were level again, coming in at five for the fourth month in a row.
– Scottsdale Homes Sold: Two homes sold in October, on par with September, but lower than the 12 month average.
– Sales Price to Listed Price: 87.2% – This number bounces around quite a bit.
Scottsdale’s luxury home market experienced a stable sales month in October. However, the double-digit increases in inventory for all price points is something to keep an eye on.
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.
Search Scottsdale Luxury Homes for Sale
Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2015 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There October 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
