– Scottsdale Luxury Home Market Performance for March 2024 –
Sales activity was up again in March for most of the luxury home market in Scottsdale.
This report covers Scottsdale’s luxury home market, where homes were listed for $1 million or more. Sales activity is then broken into four price ranges to show how things are selling at different price points.
– MARCH 2024 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up by a single home at the end of the month. This is the highest this figure has been and it is well above the 12 month average.
– UCB Scottsdale Home Sales: UCB contracts saw a 36.1% jump over February to 61. This is where they were in April 2023 and this is the highest they have been in the past year.
– Pending Scottsdale Home Sales: The number of pending contracts was up by five in March. This is the second-highest we have seen pendings in the past 12 months.
– Scottsdale Homes Sold: Homes sales were down by one in March, but were still pretty healthy. We should see this figure increase in April due to the UCB and pending pipeline.
– 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: Inventory was up again in March was the highest we have seen this figure in the past year.
– UCB Scottsdale Home Sales: The number of UCBs fell 21.9% compared to February. This is still a strong showing since February saw a spike in activity.
– Pending Scottsdale Home Sales: Pending contracts increased in March, but we are still trailing where we were at this time in 2023.
– Scottsdale Homes Sold: After an impressive February, sales cooled off a bit in March. However, it still came in above the 12 month average.
– 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: After peaking at 218 in February, the number of homes for sale decreased. However, inventory remained in the 200’s.
– UCB Scottsdale Home Sales: The number of UCBs was up again in March and ended at the highest level we have seen in the past year.
– Pending Scottsdale Home Sales: Pending sales saw a very healthy 26% jump in March. There were 50 pending sales at the end of the month. This is the first time this figure has hit 50 in the past year.
– Scottsdale Homes Sold: Sales were up as well and posted the second best performance of the past 12 months.
– Sales Price to Listed Price: 96.6% – On average, buyers saw a discount of 3.4% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: Inventory reached the 300’s in March. As I mentioned previously, this is the highest number of homes for sale ever in this price point.
– UCB Scottsdale Home Sales: The number of UCBs was up again in March and posted the best performance we have seen in the past 12 months.
– Pending Scottsdale Home Sales: Pending sales posted another great performance, closing out the month at 43. This is also the highest they have been in the past year.
– Scottsdale Homes Sold: Home sales jumped 41.7% between February and March.
– Sales Price to Listed Price: 96.0% – On average, buyers saw a discount of 4.0% 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 4/1/2024 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