Scottsdale Real Estate Market

Scottsdale AZ Luxury Home Market – July 2020

August 22, 2020 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for July 2020 –

According to Tina Tamboer, the Senior Housing Analyst for the Cromford Report, a comprehensive and highly-respected local real estate data company, the luxury market had the strongest July on record. Sales were truly impressive and demand continues to be strong.

In this report, we are looking at the sales activity for homes with list prices in excess of $1 million. We have broken the information into four price bands to show more detail.

Here is what we track on a monthly basis:
Active – The number of homes on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were under contract, but still accepting backup offers at the end of the month.
Pending – The number of homes in pending status at the end of the month.
Sold – How many homes sold.

– JULY 2020 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: The number of homes for sale dropped over 23% due to huge sales activity and less inventory coming onto the market.
– UCB Scottsdale Home Sales: The number of UCB’s fell to 54, but this is still well ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales jumped to the highest level we have seen in the past year.
– Scottsdale Homes Sold: Home sales were unprecedented at 79. The next closest we have come to this number was 64, and that was in June 2018.
– Sales Price to Listed Price: 96.2% – On average buyers saw a discount off of list price of 3.8%.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: The number of homes on the market fell slightly to come in at 138.
– UCB Scottsdale Home Sales: UCB contracts fell quite sharply to seventeen. However, the thirty-two UCBs in June was an anomaly.
– Pending Scottsdale Home Sales: Pending sales were up to 26, a 24.5% increase.
– Scottsdale Homes Sold: The thirty-six sales in this price point is the highest I have seen since I started tracking these figures in 2007.
– Sales Price to Listed Price: 95.6% – On average, buyers saw a discount off of list price of 4.4%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: Inventory was down slightly at the end of the month to 136.
– UCB Scottsdale Home Sales: UCBs were level to the prior month.
– Pending Scottsdale Home Sales: Pending sales were also level to the prior month.
– Scottsdale Homes Sold: Twenty-four homes sold in this price range in July. This is the highest sales volume I have seen since I started tracking in 2007.
– Sales Price to Listed Price: 92.5% – On average, buyers saw a discount off of list price of 7.5%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was down almost 20% between the end of June and July/
– UCB Scottsdale Home Sales: UCB contracts remained level compared to June.
– Pending Scottsdale Home Sales: Pendings were actually up by one to fifteen. This is almost double the twelve month average.
– Scottsdale Homes Sold: Twelve homes priced at over $3 million closed in July. This is impressive and well ahead of the twelve month average.
– Sales Price to Listed Price: 94.1% – On average, buyers saw a discount off of list price of 5.9%.

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.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2020 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 ©2020 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – July 2020

August 19, 2020 By Heather Tawes Nelson

– Luxury Condo Sales in Scottsdale and Phoenix – July 2020 –

The luxury condo market in Scottsdale and Phoenix had a solid July. Sales were on par with June.

Below, we will cover the sales activity of luxury condos. All of these homes were on the market for at least $1 million.


Luxury Condo Market -July 2020
Phoenix and Scottsdale AZ
	All Luxury Condos	Scottsdale Luxury Condos	Phoenix Luxury Condos
Units on the Market
- Number of Units for Sale	67	49	18
- Average Asking Price	$1,630,968	$1,591,877	$1,737,383
- Average Asking Price Per Sq. Ft.	$609.58	$640.07	$526.59
- Average Days on Market*- Active	184	179	196

UCB Sales (Under Contract - Accepting Backup Offers)
- Number of Units UCB	1	0	1
- Average UCB Price	$1,875,000	N/A	$1,875,000
- Average UCB Price Per Sq. Ft.	$625.00	N/A	$625.00

Pending Sales
- Number of Units Pending	8	7	1
- Average Pending Price	$1,624,000	$1,707,143	$1,042,000
- Average Pending Price Per Sq. Ft.	$714.71	$754.16	$438.55

Luxury Condo Sales
- Number of Units Sold	4	4	0
- Average Sales Price	$1,323,000	$1,323,000	N/A
- Sales Price to List Price	93.3%	93.3%	N/A
- Average Sold Sq. Feet	2,434	2,434	N/A
- Average Sales Price per Sq. Ft.	$573.95	$573.95	N/A
- Average Days on Market* - Sold	221	221	N/A
- Highest Sale Price	$1,612,000	$1,612,000	N/A
- Lowest Sale Price	$1,105,000	$1,105,000	N/A
- Percentage of Total Sales	100%	100%	0%

ACTIVE LISTINGS AT THE END OF JULY

Inventory dropped again by the end of the month. July closed out with sixty-seven condos for sale, compared to seventy at the end of June and seventy-seven at the end of May. Forty-nine of the sixty-seven luxury condos were in Scottsdale.

The highest-priced luxury condo for sale was in Phoenix’s Two Biltmore Estates. This home has 4,817 square feet and was on the market for $3,300,000.
The two lowest priced luxury condos at $1,049,000 are the same as last month. The first was in Scottsdale. It was a three bedroom, two bathroom unit with 1,758 square feet in Optima Kierland. The other was in Phoenix’s Portland Place. It was a three bedroom, two and one-half bathroom unit with 2,755 square feet.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

One condo was in UCB status at the end of the month. It was a home at Two Biltmore Estates. This unit had three bedrooms, three and one-half bathrooms and 3,000 square feet. It was on the market for $1,875,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Eight luxury condos were in pending status at the end of July and the majority of them were located in Scottsdale.

Scottsdale Pending Luxury Condos

Optima Kierland is currently being built out, so all of these units have been in pending status for a while.
- Two bedrooms and two bathrooms with 1,665 square feet. It was listed for $1,390,000.
- Two bedrooms and two and one-half bathrooms with 1,956 square feet. It was listed for $1,750,000.
- Three bedrooms and bathrooms with 2,704 square feet. It was on the market for $1,816,000.
- Three bedrooms and bathrooms with 2,018 square feet. It was on the market for $1,939,000.
- Three bedrooms and bathrooms with 2,704 square feet. It was listed for $2,080,000.
ICON Silverleaf – Three bedrooms, two bathrooms with 2,094 square feet. It was on the market for $1,295,000.
Optima Camelview – Three bedrooms, three and one-half bathrooms with 3,173 square feet. It was on the market for $1,680,000.

Phoenix Pending Luxury Condos

Fairway Lodge at the Biltmore – Three bedrooms and two and one-half bathrooms with 2,376 square feet. It was listed for $1,042,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were four luxury condo sales during the month of July.

ICON Silverleaf – Three bedrooms, three and one-half bathrooms with 3,170 square feet. It was on the market for $1,560,000. It ultimately sold for $1,400,000.
ICON Silverleaf – Three bedrooms, three and one-half bathrooms with 3,166 square feet. It was on the market for $1,720,000 and sold for $1,612,000.
Plaza Lofts at Kierland Commons – Two bedrooms, two bathrooms with 1,636 square feet. It had been listed for $1,195,000 and sold for $1,175,000.
Envy Residences in Old Town Scottsdale. It was a penthouse with two bedrooms, two and one-half bathrooms and 1,763 square feet. It was on the market for $1,199,000 and sold for $1,105,000.

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2020 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed. There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright ©2020 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – July 2020

August 12, 2020 By Heather Tawes Nelson

– July 2020 Scottsdale Housing Market Video –

July was another powerhouse month for home sales in Scottsdale due to pent up demand and record low interest rates.

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of July.

July 2020 – Video

Scottsdale Active Listings

The inventory of homes for sale dropped under 1,000, which is unheard of. This is a 59% decrease from where we were at the end of July last year.

This small number of homes available will hold sales activity back. This especially applies to lower-priced homes. There is so much demand for them, most have several offers on the first day.

Median List Price for Scottsdale Homes

The median list price represents the midpoint of all home prices, so one half of the homes are priced higher and the other half is priced lower.

July’s median list price was $1.25 million. This is way up from July 2019’s $875K and is up a little bit over June 2020’s $1.12M.

Days on Market

Days on Market is a quick way to gauge the health of a real estate market. High Days on Market (DOM) means things are taking longer to sell. Conversely, a low DOM means things are selling at a faster pace.

July’s DOM was 83 days. This is a 12% decrease from July 2019’s 94 days, showing you the current demand in the market.

Median Sales Price for Scottsdale Homes

We looked at the median list price above and now we will look at the median sales price.

Scottsdale’s median sales price for July was $695,000.

This was up over July 2019’s $601K and June 2020’s $635K.

Number of Homes Sold

This final section looks at the number of homes sold compared to last year as well as last month.

This top image is looking at year-over-year sales. Sales were up an impressive 22% in July compared to last July.

And looking at month-over-month, sales were up by 11%. This was a great month.

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel.

Interested in other stats for our market? Visit our Real Estate Market Update page.

Disclaimer: Data deemed to be accurate, but is not guaranteed.

Lowest Mortgage Rates in History: What It Means for Homeowners and Buyers

August 7, 2020 By Heather Tawes Nelson

In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.¹And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain?

While average mortgage rates have drifted between 4% and 5% in recent years, they haven’t always been so low. Freddie Mac began tracking 30-year mortgage rates in 1971. At that time, the national average was 7.31%.² As the rate of inflation started to rise in the mid-1970s, mortgage rates surged. It’s hard to imagine now, but the average U.S. mortgage rate reached a high of 18.63% in 1981.³

Fortunately for home buyers, inflation normalized by October 1982, which sent mortgage rates on a downward trajectory that would bring them as low as 3.31% in 2012.³ Since 2012, 30-year fixed rates have risen modestly, with the daily average climbing as high as 4.94% in 2018.⁴

So what’s causing today’s rates to sink to unprecedented lows? Economic uncertainty.

Mortgage rates generally follow bond yields, because the majority of U.S. mortgages are packaged together and sold as bonds. As the coronavirus pandemic continues to dampen the economy and inject volatility into the stock market, a growing number of investors are shifting their money into low-risk bonds. Increased demand has driven bond yields—and mortgage rates—down.⁵

However, according to National Association of Realtors Chief Economist Lawrence Yun, “the number one driver of low mortgage rates is the accommodating Federal Reserve stance to keep interest rates low and to buy up mortgage-backed securities.” According to Yun, “we will see mortgage rates stay near this level for the next 18 months because of the significance of the Fed’s stance.”⁶

HOW DO LOW MORTGAGE RATES BENEFIT CURRENT HOMEOWNERS?

Low mortgage rates increase buyer demand, which is good news for sellers. But what if you don’t have any plans to sell your home? Can current homeowners benefit from falling mortgage rates? Yes, they can!

A growing number of homeowners are capitalizing on today’s rock-bottom rates by refinancing their existing mortgages. In fact, refinance applications have surged over the past few months—and for a good reason.⁷ Reduced interest rates can save homeowners a bundle on both monthly payments and total payments over the lifetime of a mortgage.

The chart below illustrates the potential savings when you decrease your mortgage rate by just one percentage point. When it comes to refinancing, the bigger the spread, the greater the savings.

Estimated Monthly Payment On a 30-Year Fixed-Rate Mortgage

Loan Amount	4.0%	3.0%	Monthly Savings	Savings Over 30 Years
$100,000	$477	$422	$55	$20,093
$200,000	$955	$843	$112	$40,184
$300,000	$1,432	$1,265	$167	$60,277
$400,000	$1,910	$1,686	$224	$80,368
$500,000	$2,387	$2,108	$279	$100,461

Be sure to factor in any prepayment penalties on your current mortgage and closing costs for your new mortgage. For a refinance, expect to pay between 2% to 5% of your loan amount.⁸ You can divide your closing costs by your monthly savings to find out how long it will take to recoup your investment, or use an online refinance calculator. For a more precise calculation of your potential savings, we’d be happy to connect you with a mortgage professional in our network who can help you decide if refinancing is a good option for you.

HOW DO LOW MORTGAGE RATES BENEFIT HOME BUYERS?

We’ve already shown how low rates can save you money on your mortgage payments. But they can also give a boost to your budget by increasing your purchasing power. For example, imagine you have a budget of $1,500 to put toward your monthly mortgage payment. If you take out a 30-year mortgage at 5.0%, you can afford a loan of $279,000.

Now let’s assume the mortgage rate falls to 4.0%. At that rate, you can afford to borrow $314,000 while still keeping the same $1,500 monthly payment. That’s a budget increase of $35,000!

If the rate falls even further to 3.0%, you can afford to borrow $355,000 and still pay the same $1,500 each month. That’s $76,000 over your original budget! All because the interest rate fell by two percentage points. If you’ve been priced out of the market before, today’s low rates may put you in a better position to afford your dream home.

On the other hand, rising mortgages rates will erode your purchasing power. Wait to buy, and you may have to settle for a smaller home or in a less-desirable neighborhood. So if you’re planning to move, don’t miss out on the phenomenal discount you can get with today’s historically low rates.

HOW LOW COULD MORTGAGE RATES GO?

No one can say with certainty how low mortgage rates will fall or when they will rise again. A lot will depend on the trajectory of the pandemic and subsequent economic impact.

Forecasters at Freddie Mac and the Mortgage Bankers Association predict 30-year mortgage rates will average 3.2% and 3.5% respectively in 2021.^9,10 However, economists at Fannie Mae expect them to dip even lower to an average of 2.8% next year.¹¹

Still, many experts agree that those who wait to take advantage of these unprecedented rates could miss out on the deal of a lifetime. “With rates now at all-time historic lows, it’s hard to imagine that people may be holding out for something even better,” warns Paul Buege, president and COO of Inlanta Mortgage.¹²Positive news about a vaccine or a faster-than-expected economic recovery could send rates back up to pre-pandemic levels.

HOW CAN I SECURE THE BEST AVAILABLE MORTGAGE RATE?

While the average 30-year mortgage rate is hovering around 3%, you can do a quick search online and find advertised rates that are even lower. But these ultra-low mortgages are typically reserved for only prime borrowers. So what steps can you take to secure the lowest possible rate?

1) Consider a 15-Year Mortgage Term

Lock in an even lower rate by opting for a 15-year mortgage. If you can afford the higher monthly payment, a shorter mortgage term can save you a bundle in interest, and you’ll pay off your home in half the time.¹³

2) Give Your Credit Score a Boost

The economic downturn has made lenders more cautious. These days, you’ll probably need a credit score of at least 740 to secure their lowest rates.¹⁴While there’s no fast fix for bad credit, you can take steps to help your score before you apply for a loan:¹⁵

Dispute inaccuracies on your credit report.
Pay your bills on time, and catch up on any missed payments.
Hold off on applying for new credit.
Pay off debt, and keep balances low on your credit cards.
Don’t close unused credit cards (unless they’re charging you an annual fee).

3) Make a Large Down Payment

The more equity you have in a home, the less likely you are to default on your mortgage. That’s why lenders offer better rates to borrowers who make a sizable down payment. Plus, if you put down at least 20%, you can avoid paying for private mortgage insurance.

4) Pay for Points

Discount points are fees paid to the mortgage company in exchange for a lower interest rate. At a cost of 1% of the loan amount, they aren’t cheap. But the investment can pay off over the long-term in interest savings.

5) Shop Around

Rates, terms, and fees can vary widely amongst mortgage providers, so do your homework. Contact several lenders to find out which one is willing to offer you the best overall deal. But be sure to complete the process within 45 days—or else the credit inquiries by multiple mortgage companies could have a negative impact on your credit score.¹⁶

READY TO TAKE ADVANTAGE OF THE LOWEST MORTGAGE RATES IN HISTORY?

Mortgage rates have never been this low. Don’t miss out on your chance to lock in a great rate on a new home or refinance your existing mortgage. Either way, we can help.

We’d be happy to connect you with the most trusted mortgage professionals in our network. And if you’re ready to start shopping for a new home, we’d love to assist you with your search—all at no cost to you! Contact us today to schedule a free consultation.

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

Sources:

CNN Business –
https://www.cnn.com/2020/07/16/success/30-year-mortgage-rates-record-low/index.html
Freddie Mac –
https://www.freddiemac.com/pmms/pmms30.html)
Value Penguin –
https://www.valuepenguin.com/mortgages/historical-mortgage-rates
Federal Reserve Bank of St. Louis –
https://fred.stlouisfed.org/graph/?g=NUh
Bankrate –
https://www.bankrate.com/mortgages/how-interest-rates-are-set/
Washington Post –
https://www.washingtonpost.com/business/2020/06/25/mortgage-rate-remains-historic-low/
Yahoo! Finance –
https://finance.yahoo.com/news/mortgage-refinancing-makes-big-comeback-151500346.html
Bankrate –
https://www.bankrate.com/mortgages/is-no-closing-cost-for-you/
Freddie Mac June 2020 Quarterly Forecast –
https://www.freddiemac.com/fmac-resources/research/pdf/202006-Forecast.pdf
Mortgage Bankers Association Mortgage Market Forecast July 15, 2020 –
https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary
Fannie Mae July 2020 Housing Forecast –
https://www.fanniemae.com/resources/file/research/emma/pdf/Housing_Forecast_071420.pdf
Washington Post –
https://www.washingtonpost.com/business/2020/06/25/mortgage-rate-remains-historic-low/
Investopedia –
https://www.investopedia.com/articles/personal-finance/042015/comparison-30year-vs-15year-mortgage.asp
Money –
https://money.com/mortgage-rates-below-three-percent/
Experian –
https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/improve-credit-score/
Equifax – https://www.equifax.com/personal/education/credit/report/understanding-hard-inquiries-on-your-credit-report/

Scottsdale AZ Single Family Home Sales – July 2020

August 3, 2020 By Heather Tawes Nelson

– July 2020 Scottsdale Homes for Sale and Home Sales –

July turned out to be an even better sales month for Scottsdale than June, which was already a great month. Sales were the highest we have seen in the past year.

SCOTTSDALE HOME SALES ACTIVITY – JULY 2020

Each of the following items are tracked monthly:

– Single-family homes for sale – Orange Line – How many homes were listed at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were in UCB status at the end of the month.*
– Pending home sales – Yellow Line – How many pending sales there were at the end of the month.*
– Home Sales – Blue Line – How many homes sold over the course of the month.

JULY 2020 RESULTS

Scottsdale Homes for Sale: Inventory levels are dire in Scottsdale and in the Phoenix market in general. I have been tracking these figures since 2007 and this is the first time I have seen it dip under the 1,000 mark. This low inventory will certainly hold future home sale activity back.
UCB (Under contract, accepting backup offers): We saw the number of UBC contracts fall a little bit in July. This is probably a combination of seasonality and low inventory.
Pending Homes Sales in Scottsdale: Pending sales were also off slightly, likely for the same reasons as the UBC contracts.
Scottsdale Home Sales: After a huge jump in June, sales were up another 10.4% in July., making this the best sales month of the year. (On a side note, the luxury home market in July had its best July in 20 years!)

There are two more items we track on a monthly basis and they are below.

Percent Change Month Over Month – Each sales status’ performance is compared to the previous month’s performance. For instance, the number of active homes declined by 11.5% between the end of June and the end of July.

Sales Price to List Price – This metric looks at the prices homes sold for compared to what they were on the market for. This figure stayed at 96.6% in July.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Search Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

Curious about your buying power? Click on the link to learn more.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2020. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2020 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Luxury Home Market – June 2020

July 21, 2020 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for June 2020 –

After a couple of rough months, the luxury home market in Scottsdale rebounded in most places in June.

For the purpose of this report, we are tracking the sales activity of homes in Scottsdale with list prices of one million dollars or more.

We track the four following items on a monthly basis:
Active – How many homes were for sale 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 homes sold

– JUNE 2020 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: Inventory dropped quite a bit by the end of the month. This is mostly due to the robust sales activity in this price point.
– UCB Scottsdale Home Sales: UCB’s jumped over 27% over May ending the month with 69. This is where it was trending earlier in the year before COVID-19 hit.
– Pending Scottsdale Home Sales: The number of pendings was pretty level between May and June.
– Scottsdale Homes Sold: Home sales in this price point surged 90.9% in June, coming in with the second-highest sales month in the past year.
– Sales Price to Listed Price: 93.9% – On average buyers saw a discount off of list price of 6.1%.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: Inventory fell as well in this price point due to an uptick in sales activity.
– UCB Scottsdale Home Sales: UCB’s were up 60% over May and closed out the month with 32, the highest we have seen in the past twelve months.
– Pending Scottsdale Home Sales: Pending sales also saw a nice uptick after a drop in April and May.
– Scottsdale Homes Sold: Twenty-three homes sold in June in this price point. It was a nice jump over May, but still a little behind the twelve month average.
– Sales Price to Listed Price: 95.1% – On average, buyers saw a discount off of list price of 4.9%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: The number of homes for sale in this price point was down slightly at the end of June.
– UCB Scottsdale Home Sales: UCB contracts nearly doubled between May and June and were the highest we have seen by far in the past year.
– Pending Scottsdale Home Sales: Pendings saw a 70% increase between May and June.
– Scottsdale Homes Sold: This is the only price range where sales were down in June. There were only nine sales.
– Sales Price to Listed Price: 96.8% – On average, buyers saw a discount off of list price of 3.2%.