– Scottsdale AZ Luxury Home Market Performance for December 2017 –
Here is the final luxury home sales report for 2017. In this report, I am defining luxury homes as homes in Scottsdale with asking prices in excess of $1 million. Because the market performs differently at different price points, I have divided the sales activity into four price bands and the data goes back 12 months.
The sales activities we are tracking are:
Active – The number of homes on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still accepting backup offers at the end of the month.
Pending – How many homes were in pending status at the end of the month.
Sold – The number of home sales for that month.
– DECEMBER 2017 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory fell slightly at the end of the month, but it was still ahead of the 12 month average by a few homes.
– UCB Scottsdale Home Sales: UCBs came in at 29 at the end of the month. This is the third highest it has been in the past year.
– Pending Scottsdale Home Sales: Pending sales fell dramatically in December to sixteen. This is the lowest it has been this year, but we do tend to see things get quieter over the holidays.
– Scottsdale Homes Sold: Thirty homes sold in December. This was a solid showing to close out the year.
– Sales Price to Listed Price: 93.9% – On average, buyers saw a discount off of list price of 7.1%
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was down slightly again to 204. This is just below the 12 month average.
– UCB Scottsdale Home Sales: UCB homes ended December at twelve. This is just ahead of the 12 month average of 11.
– Pending Scottsdale Home Sales: Pending sales were back down over a very strong November.
– Scottsdale Homes Sold: Seventeen homes sold in December, which is excellent. This was well ahead of the 12 month average of 13.
– Sales Price to Listed Price: 93.4% – On average, buyers saw a discount off of list price of 6.6%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale at this price point remained level between November and December.
– UCB Scottsdale Home Sales: UCB homes were also level between the past two months.
– Pending Scottsdale Home Sales: Pending sales saw a dip to seven. This is the second lowest we have seen this year.
– Scottsdale Homes Sold: Ten homes sold in December. This is just ahead of the 12 month average of nine.
– Sales Price to Listed Price: 91.6% – On average, buyers saw a discount off of list price of 8.4%
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: This is the only price point where inventory went up between November and December.
– UCB Scottsdale Home Sales: UCBs fell to three, which is where they came in many times in 2017.
– Pending Scottsdale Home Sales: Pending sales e four pendings were right on par with the 12 month average.
– Scottsdale Homes Sold: There were three home sales in December. It was a large dip from an abnormally high November sales figure.
– Sales Price to Listed Price: 89.8% – On average, buyers saw a discount off of list price of 10.2%.
December was a solid month to close out 2017. There was mixed activity, but we did see some strong sales figures in the lower price points. Pendings, for the most part, were down, but that is due to seasonality. Based on this, I anticipate a slower sales month in January.
If you would like additional detail on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.
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Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2018 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 © 2018 Heather Tawes Nelson | Joyce Tawes