The Scottsdale luxury home market in April 2012 results are below. This purpose of this analysis is to look at the performance of luxury home sales within specific price segments in detail.
Each price band includes one year of monthly data and three sales statuses. They are:
– Scottsdale luxury homes on the market
– Pending home sales
– Completed Scottsdale luxury homes sales
– April 2012 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory dropped quite a bit in April to 203. However, this is still above the 12 month average of 201 homes on the market.
– Pending Scottsdale Home Sales: Pending sales were down slightly, but were still the third highest we have seen in the last year.
– Scottsdale Homes Sold: Home sales hit the second highest level we have seen in a year in April. The 31 sales were way ahead of the 12 month average of 23.
– Sales Price to Listed Price: 92.4% – This figure is pretty in line with what we have been seeing. So, on average, buyers received a little over 7% off of asking price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes on the market dipped slightly at the end of April to 133. This is just below the 12 month average of 134.
– Pending Scottsdale Home Sales: Pending sales saw a slight lift to 15. This is ahead of the 12 month average of 12.
– Scottsdale Homes Sold: Home sales have been holding steady in the last several months at around 9 sales. This is also the same as the 12 month average.
– Sales Price to Listed Price: 91.4% – This is the highest we have seen this is in the last year, meaning buyers saw a smaller discount off of list price on average.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: After increasing in March, inventory was back down again at the end of April. However, this figure is still well above the 12 month average of 127 homes.
– Pending Scottsdale Home Sales: Pending sales saw a 50% increase in April to 8. This is almost double the 12 month average.
– Scottsdale Homes Sold: After an incredible March, sales settled back down again in April to 6. This is still a strong performance and comes in ahead of the average.
– Sales Price to Listed Price: 87.1% – This is the lowest we have seen this figure since the end of last year. That means buyers got about 13% off on average in April.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes on the market dropped about 4% by the end of April to 93. This is just under the 12 month average of 94.
– Pending Scottsdale Home Sales: Pending sales more than doubled to 7. This is the highest we have seen since May 2011.
– Scottsdale Homes Sold: There was only a single sale in April, coming off a strong sales month in March. However, with pending activity so high, I anticipate sales in May will be much better.
– Sales Price to Listed Price: 96.1% – This is the highest this figure has been. The buyer of the home only received about 4% off of the asking price.
Al in all, the Scottsdale AZ luxury home market had a decent month. As we are seeing all over the market, inventory is going down. Pending sales were up in three of the four categories. And in the fourth one, homes between $1 and 1.5 million, the pending figure was still strong. Sales were good or great as well in April. Pending sales activity indicates we should see an excellent sales month in May.
To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the “Scottsdale Market Trends” report.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2012 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 implied or expressed.
Copyright © 2012 Heather Tawes Nelson
