– Scottsdale AZ Luxury Home Market Performance for June 2013 –
The Scottsdale luxury home market had another strong month of sales in June, even as inventory continued to drop in all price ranges.
In this analysis, I am calling the luxury home market homes with an asking price in excess of $1 million. Since there is a bit of variation in sales activity as the price points increase, I have split the information into four price bands to show more detail.
Each price band will contain the following information:
Active – The number of homes on the market at the end of the month.
Pending – The number of pending home sales at the end of the month.
Sold – Actual home sales for each month.
– June 2013 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was down to 167 homes in this price range, a 16.9% decrease over the previous month. We have not seen it this low since Fall 2012.
– Pending Scottsdale Home Sales: Pending home sales increased yet again, to 37. This segment has been showing great momentum for pending sales in the last several months. The 37 pending sales is well ahead of the twelve month average of 24.
– Scottsdale Homes Sold: Twenty-six homes sold over the course of June. This is lower than it has been over the past few months, but is still slightly ahead of the 12 month average of 24.
– Sales Price to Listed Price: 93.7% – This is about where this figure has been most of 2013
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Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: There was a 10.1% drop in inventory in this price segment between May and June. At the end of June, 107 homes were for sale, which is about where inventory was last September.
– Pending Scottsdale Home Sales: Nineteen homes were pending, a 32.1% decrease over May. However, this is still above the 12 month average of 15.
– Scottsdale Homes Sold: Nineteen homes sold in June, the highest we have seen in the past year. This strong sales performance was anticipated due to the high pending figure at the end of May.
– Sales Price to Listed Price: 94.1% – This is pretty on target with what we have been seeing for this figure. 
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory dropped below 100 in this price range for the first time since September of 2012. At the end of June, 89 homes were for sale.
– Pending Scottsdale Home Sales: Pending sales dropped 40% over May to 6. This is the lowest it has been since January of 2013, but is right on track with the 12 month average of 6.
– Scottsdale Homes Sold: There were eight home sales in June, the second highest we have seen in the last 12 months.
– Sales Price to Listed Price: 95.0% – This is the highest we have seen this figure in the past year. The next closest was 93.8% in February of 2013. 
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Homes for sale dropped below 100 in this price point as well. The month ended with 89 homes for sale with list prices in excess of $3 million.
– Pending Scottsdale Home Sales: Pending sales were the highest we have seen in the last year at 4. This is double the 12 month average.
– Scottsdale Homes Sold: No homes over $3 million sold in June. However, I expect this number to recover in July based on the pending figures.
– Sales Price to Listed Price: N/A
Overall, June was a decent month for home sale activity in Scottsdale, Arizona. Sales remained solid and we are seeing some promising pending figures in some of the price bands, which should translate into good sales for July.
Inventory is down across the board. I would attribute this to both sales activity as well as many sellers letting their listings expire and stay off the market for the slower summer months.
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 7/1/2013 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ over the last 12 months. There June 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
