Scottsdale Real Estate Market

Scottsdale AZ Luxury Home Market – July 2019

August 27, 2019 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for July 2019 –

Sales activity in July was down for the most part due to seasonality. However, there were a few bright spots.

This report covers the sales activity of the luxury home market in Scottsdale. All of these homes were priced at $1 million or more.

Here are the four items we track:
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 pending sales there were.
Sold – The number of homes sold.

– JULY 2019 –

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

– Active Scottsdale Homes on the Market: We saw a large drop in the number of homes for sale as sellers took their homes off of the market for the slower months. This figure dropped under 200 for the first time in a year.
– UCB Scottsdale Home Sales: The number of UCBs fell for the fourth time in a row, closing out the month at 21.
– Pending Scottsdale Home Sales: Pending sales were up by one at the end of July.
– Scottsdale Homes Sold: Sales fell to 37, a 22.9% drop over June.
– Sales Price to Listed Price: 95.6% – On average buyers saw a discount off of list price of 4.4%.

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

– Active Scottsdale Homes on the Market: The number of homes for sale in this price point fell 18% from June. This is the lowest level we have seen in the past year.
– UCB Scottsdale Home Sales: UCB contracts fell a little bit to close out the month at 10.
– Pending Scottsdale Home Sales: Pending contracts fell sharply (57.1%) between the end of June and end of July. This is also the lowest level we have seen in a year.
– Scottsdale Homes Sold: Twenty-three homes sold in July. This was a solid performance and is ahead of the 12 month average.
– Sales Price to Listed Price: 95.3% – On average, buyers saw a discount off of list price of 4.7%.

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

– Active Scottsdale Homes on the Market: Inventory continued to fall in this price segment. It has been decreasing monthly since April.
– UCB Scottsdale Home Sales: The number of UCB contracts increased in July and came in on par with the 12 month average.
– Pending Scottsdale Home Sales: After an incredible past three months, pending sales fell almost by half in July to end the month at eleven.
– Scottsdale Homes Sold: There were seventeen sales in July, an improvement over June. This is tied with March and May as the highest number of monthly sales.
– Sales Price to Listed Price: 93.8% – On average, buyers saw a discount off of list price of 6.2%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory fell in July to 113. This is the second-lowest we have seen in the past year.
– UCB Scottsdale Home Sales: The number of homes in UCB stayed level at three.
– Pending Scottsdale Home Sales: Pending sales were down by one at the end of the month.
– Scottsdale Homes Sold: After a very strong past several months, sales fell significantly in July. There were only three sales in July, but this is on par with where sales were last year at this time.
– Sales Price to Listed Price: 91.7% – On average, buyers saw a discount off of list price of 8.3%.

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 8/1/2019 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 ©2019 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – July 2019

August 17, 2019 By Heather Tawes Nelson

– Luxury Condo Sales in Scottsdale and Phoenix – July 2019 –

We saw the impact of the seasonal slowdown in July. Luxury condo sales activity in Scottsdale and Phoenix was down and many homes were taken off of the market for the slow season.

In this report, we are looking at luxury condos for sale in Scottsdale and Phoenix. All of these condos had asking prices in excess of $1 million.

ACTIVE LISTINGS AT THE END OF JULY

The inventory of luxury condo listings dropped from 56 at the end of June to 44 at the end of July. Scottsdale went from forty-two luxury condos on the market to thirty-one. Phoenix dropped by one and closed out the month with thirteen luxury condos on the market.

The most expensive listing came onto the market at the end of the month. It was a four bedroom, four bathroom, 5,042 square foot home in Optima Kierland. It is due for completion next year and is listed at $3,675,000.
The lowest-priced luxury condo for sale was the same as last month and it is also located in the Optima Kierland community. On the market for $1,35,000, this unit has 1,956 square feet, three bedrooms and three bathrooms. Its completion date is also next year.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were two homes in UCB status at the end of July.

In Scottsdale, a unit at ICON Silverleaf went under contract. It has two bedrooms, two and one-half bathrooms and 2,721 square feet. It was listed for $1,950,000.
The other UCB was in Phoenix. This penthouse with fantastic views at Portland on the Park has three bedrooms and bathrooms and 1,940 square feet. It was on the market for $1,139,000.

*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

There were two pending sales at the end of the month and both were located in Scottsdale.

The first pending was located in the Optima Camelview community. It had two bedrooms and two and one-half bathrooms and 2,114 square feet. It was listed for $1,149,000.
The second pending was in ICON Silverleaf. This two bedroom, two and one-half bathroom home with 2,746 square feet was listed for $1,499,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There was a single luxury condo sale in July. The sale was in the Scottsdale Waterfront Residences community. The home had two bedrooms, two and one-half bathrooms and 2,092 square feet. It was listed for $1,499,000 and sold for $1,375,000 in under a month.

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 7/1/2019 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 © 2019 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – July 2019

August 14, 2019 By Heather Tawes Nelson

– July 2019 Scottsdale Housing Market Video –

July 2019 – Video

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

Scottsdale Active Listings

The number of homes on the market at the end of July was 1,338. This is level with the previous month as well as level with July 2018.

Median List Price for Scottsdale Homes

The median list price is the exact midpoint of all of the prices for homes on the market. Half will be priced higher and half will be priced lower.

In July, the median list price came in at $925,000, quite a bit higher than July 2018’s $850,000 and June 2019’s $899,000.

Days on Market

Days on Market, often shown as DOM, is a measurement to show how quickly homes are or are not selling.

The DOM for July was 92, which is about where it was at the same time last year.

Median Sales Price for Scottsdale Homes

Like the median list price, the median sale price is the midpoint price of all homes that sold.

In July 2019, it came in at $598,000. This is higher than June 2019’s $592,000 and July 2018’s $560,000.

Number of Homes Sold

This last section looks at home sales compared to last year as well as the previous month.

July 2019 had seven more sales than July 2018, which is a 1% increase.

However, July’s sales were down 8% compared to June’s. This is not surprising as we sales slip on a seasonal basis this time of year.

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.

Scottsdale AZ Single Family Home Sales – July 2019

August 3, 2019 By Heather Tawes Nelson

– July 2019 Scottsdale Homes for Sale and Home Sales –

In July, we saw sales taper off, but it was still a good month. However, we did see a much sharper decline in inventory and pending sales.

SCOTTSDALE HOME SALES ACTIVITY – JULY 2019

We look at the following four items on a monthly basis.

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

JULY 2019 RESULTS

It is that time of year when Scottsdale and the surrounding areas see a seasonal slowdown in sales activity. Inventory will be lower due to fewer new listings and from sellers taking their homes off of the market. And sales and pending sales will also decrease.

Scottsdale Homes for Sale: The inventory of homes for sale dropped dramatically between the end of June and the end of July. The month closed out at 1,300 homes on the market.
UCB (Under contract, accepting backup offers): UCB contracts did not drop significantly, but we did see a decrease.
Pending Homes Sales in Scottsdale: Again, there was not a huge drop in pending contracts, but they have been declining for a few months now.
Scottsdale Home Sales: 475 homes sold in July, making it still a good month for sales. This figure will drop in September as there are fewer homes in the sales pipeline.

This last section contains two more metrics that we track.

The first metric shows how each of the sales statuses changed compared to the prior month. For instance, the number of active listings fell 16.5% between the end of June and the end of July.

The second metric looks at how much of a discount homes were selling for. In July, homes on average, sold at 96.3% of their asking prices. Looking at it from a buyer’s perspective, buyers were able to get homes at an average of 3.7% off of asking.

*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 8/1/2019. 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 © 2019 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Luxury Home Market – June 2019

July 27, 2019 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for June 2019 –

In June, the Scottsdale luxury home market saw the first bit of slowing as we head deeper into the summer months.

In this report, we break the luxury home market into four price ranges for better detail and track the following items on a monthly basis:
Active – The number of homes for sale 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 that were in pending status at the end of the month.
Sold – How many homes sold during the month.

– JUNE 2019 –

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

– Active Scottsdale Homes on the Market: Inventory fell due to strong sales and homes coming off of the market during the slow season.
– UCB Scottsdale Home Sales: UCB sales fell quite a bit between May and June. However, this is on par with the 12 month average.
– Pending Scottsdale Home Sales: Pending sales fell over 40% from May, closing out June at 20. This is similar to where this price point was in December 2018 and January 2019.
– Scottsdale Homes Sold: Sales were quite good in June. There were 48 sales during the month.
– Sales Price to Listed Price: 95.2% – On average buyers saw a discount off of list price of 4.8%.

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

– Active Scottsdale Homes on the Market: Inventory in this price point also was down due to sales activity and seasonality.
– UCB Scottsdale Home Sales: The number of UCBs fell to seven, which is less than the 12 month average of nine.
– Pending Scottsdale Home Sales: Pending sales fell by 30% to close out the month at fourteen.
– Scottsdale Homes Sold: There were 27 home sales in June. This was the third-highest number of monthly sales of the past year.
– 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: There was a big drop in the number of homes for sale between May and June. Again, this is based on sales activity and seasonality.
– UCB Scottsdale Home Sales: UCB contracts also tapered off, closing out the month with seven.
– Pending Scottsdale Home Sales: While UCBs were down, pending sales came in with the best performance of the past year with twenty-one!
– Scottsdale Homes Sold: There were fifteen home sales in June, which was a strong performance.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%.