– Scottsdale AZ Luxury Home Market Performance for March 2013 –
Here are March 2013’s figures for the Scottsdale luxury home market. I am defining the luxury home market as homes for sale in Scottsdale with list prices in excess of $1 million. This information has been broken into four price ranges to show additional detail.
Each price range contains the following information:
Active – How many homes were for sale at the end of the month.
Pending – How many pending sales there were at the end of the month.
Sold – How many homes sold during the month of March.
– March 2013 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: The number of homes for sale at the end of March was up 4.7% over February. This is well ahead of the 12 month average of 181.
– Pending Scottsdale Home Sales: Pending sales were the highest they have been since last Spring. At the end of the month, 31 homes were under contract in this price range.
– Scottsdale Homes Sold: As with pending sales, home sales in March were the highest they have been since last Spring. Twenty-eight homes sold, ahead of the 12 month average of 22.
– Sales Price to Listed Price: 92.9% – This is about where this figure has been for the last several months.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale was up in March, a 4.7% increase over February. This is the highest inventory has been in the past year.
– Pending Scottsdale Home Sales: Sixteen homes were pending at the end of the month. This is up one over February and is ahead of the 12 month average of thirteen.
– Scottsdale Homes Sold: Fourteen homes sold in March. This was less than February’s fifteen sales, but is still ahead of the 12 month average of 10.
– Sales Price to Listed Price: 94.6% – This is the highest we have seen this ratio in the last year.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was up to 116 at the end of the month, just surpassing the 12 month average of 112.
– Pending Scottsdale Home Sales: Pending home sales came in at 9, down one over February, but ahead of the 12 month average of 6.
– Scottsdale Homes Sold: There were six home sales in March, sightly ahead of the 12 month average of five.
– Sales Price to Listed Price: 91.3% – This is on par with what we have been seeing in this price point.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory was down by one in March to 119. This is still well ahead of the 12 month average of 96.
– Pending Scottsdale Home Sales: Three homes were pending sale at the end of the month.
– Scottsdale Homes Sold: There were two home sales in March, which is on par with February and the 12 month average.
– Sales Price to Listed Price: 83.2% – This is lower than we have been seeing over the last few months with sales. However, it was trending in the 80%’s for most to last year.
March 2013 was a decent month for luxury home activity in Scottsdale. Inventory was up in most of the price bands. But unlike the lower price points where inventory is constrained, there are still many months of inventory for sale when you get to the luxury segment. Pending sales were solid and should lead to another decent sales month in April.
To see more detailed data behind this report, please visit my Scottsdale Luxury Home Market Reports page and click on the “Scottsdale Market Trends” downloadable 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 4/1/2013 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 © 2013 Heather Tawes Nelson
