– Scottsdale Luxury Home Market Performance for June 2024 –
June was another solid month for Scottsdale’s luxury home market. We are seeing some more softening in the lower end of the luxury market, but on the top end, homes keep selling.
In this report, we do a deep dive into the single-family luxury home market in Scottsdale. All of these homes would have been listed for at least one million dollars. To get a better understanding of the market, we have broken the data into four price points.
– JUNE 2024 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes on the market fell from May’s 239, but we are still above of the 12 month average.
– UCB Scottsdale Home Sales: UCBs were down in April and May, but saw a healthy 36.2% increase in June. In fact, this was the second best performing month of the past year.
– Pending Scottsdale Home Sales: Pending contracts were level with May.
– Scottsdale Homes Sold: After two impressive sales months, home sales in this price point fell in June and came in right at the 12 month average.
– Sales Price to Listed Price: 97.0% – On average, buyers saw a discount of 3.0% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: After a bump up in May, inventory fell in June to close out the month at 153.
– UCB Scottsdale Home Sales: UCB contracts were up slightly and came in just ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pendings fell for the second month in a row, but the decrease was small.
– Scottsdale Homes Sold: May’s home sales activity in this price range was very impressive. However, June’s sales were 83.3% lower. But, if you look at the sales activity over the past year, it was not too far off historical performance.
– Sales Price to Listed Price: 96.6% – On average, buyers saw a discount of 3.4% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory fell 23% in June when compared to May. This is the first time it has come in under 200 since December of 2023.
– UCB Scottsdale Home Sales: UCB contracts were up in June, closing out at 27. This is ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pendings contracts fell again in June and activity was closer to what we saw at the beginning of the year.
– Scottsdale Homes Sold: Even though sales fell when compared to April and May, there were 48 sales in June, which is a very solid figure.
– Sales Price to Listed Price: 96.9% – On average, buyers saw a discount of 3.1% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale continues to fall at this top price point. We are now seeing levels similar to the 12 month average.
– UCB Scottsdale Home Sales: UCBs were down 52.9% when compared with May.
– Pending Scottsdale Home Sales: Pending sales were also down June, dropping into the 20s for the first time since January.
– Scottsdale Homes Sold: Even though new contract activity was down in June, home sales were not. Sales were up 11.1% over May.
– Sales Price to Listed Price: 95.3% – On average, buyers saw a discount of 4.7% 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 7/1/2024 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 ©2024 Heather Tawes Nelson | Joyce Tawes
