Scottsdale Real Estate Market

Scottsdale AZ Luxury Home Market – December 2018

January 22, 2019 By Heather Tawes Nelson

– Scottsdale AZ Luxury Home Market Performance for December 2018 –

December can either be a slow month, which is more typical or can do really well on sales as we saw in December 2017. December 2018’s luxury home market in Scottsdale fell somewhat into the slower camp, although sales activity in the lower end and upper end of the luxury market was up.

This report covers Scottsdale’s luxury home market, which I am designating as homes that were on the market for $1 million or more. To show more detail, I have broken down the sales data into four price bands.

Each month, we track the following things:
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 during the month.

– DECEMBER 2018 –

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

– Active Scottsdale Homes on the Market: Inventory was down at the end of the year to 272. This should rebound in January as people are putting their homes on the market for the new year.
– UCB Scottsdale Home Sales: UCBs fell to 19. This is tied for the lowest performance of the past 12 months.
– Pending Scottsdale Home Sales: Pending sales fell over 36% to close out at 19. This is the second lowest we have seen this year.
– Scottsdale Homes Sold: Sales were up over 17%, which was a great way to finish out 2018.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%

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

– Active Scottsdale Homes on the Market: Inventory in this price range actually increased in December to 205.
– UCB Scottsdale Home Sales: UCBs stayed level at seven, which is where they have ended three times in the past four months.
– Pending Scottsdale Home Sales: Pending sales fell 30 to seven. This is the lowest we have seen in the past 12 months.
– Scottsdale Homes Sold: Sixteen homes sold in December, just behind the 12 month average of 17.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%.

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

– Active Scottsdale Homes on the Market: Inventory for this price segment was down at the end of the month.
– UCB Scottsdale Home Sales: UCB contracts were up by one to seven. This is a decent performance for December.
– Pending Scottsdale Home Sales: Pending home sales were also up. The month ended with 13 pending sales, the same as the 12 month average.
– Scottsdale Homes Sold: Four homes sold in December. This is tied with the lowest number of sales we have seen in the past 12 months.
– Sales Price to Listed Price: 96.9% – On average, buyers saw a discount off of list price of 3.1%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was up in this price point as we closed out the month.
– UCB Scottsdale Home Sales: UCBs doubled compared to November, coming in at eight. This is well above the 12 month average of five.
– Pending Scottsdale Home Sales: Pending sales were up by one.
– Scottsdale Homes Sold: Two homes sold in December. This sales figure has been level for the past three months.
– Sales Price to Listed Price: 92.9% – On average, buyers saw a discount off of list price of 7.1%.

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 1/1/2019 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 – December 2018

January 15, 2019 By Heather Tawes Nelson

– Luxury Condo Sales in Scottsdale and Phoenix – December 2018 –

During the final month of 2018, the luxury condo market in Scottsdale and Phoenix saw modest sales, but an uptick in pending sales.

ACTIVE LISTINGS AT THE END OF DECEMBER

The number of luxury condos for sale dropped by two to end the month at forty-eight.

The highest priced condo on the market was a carryover from November. It was a unit in the Plaza Lofts at Kierland Commons. It was on the 9th floor and had three bedrooms, three and one-half bathrooms and 4,059 square feet. It was listed for $2,894,999.

The lowest priced condo for sale was in the Scottsdale Waterfront Residences community. It had two bedrooms and bathrooms and 1,586 square feet. It was listed for $1,040,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of December, there were five luxury units in UCB status. Two of them were located in Scottsdale and other three were in Phoenix.

Scottsdale UCB Condos

The Landmark Condominiums had a single UCB. It had three bedrooms, two and one-half bathrooms and 3,744 square feet. It was listed for $2,240,000.
The second UCB in Scottsdale was at the Scottsdale Waterfront Residences. This unit had two bedrooms, two and one-half bathrooms and 2,319 square feet. It was listed for $2,350,000.

Phoenix UCB Condos

The Residences at 2211 Camelback had a UCB that carried over from November. This home has three bedrooms and bathrooms and 3,013 square feet. It was on the market for $1,450,000.
Esplanade Place had a single UCB. This unit had two bedrooms, two and one-half bathrooms and 3,003 square feet. It was listed for $1,390,000.
The final UCB for Phoenix was in the Two Biltmore Estates community. This unit had three bedrooms, three and one-half bathrooms and 3,435 square feet. It was listed for $1,879,000.

*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

All six of the pending sales at the end of December were located in Scottsdale. Four of the six were in the same community.

The most expensive unit that had been for sale for many months went UCB in November and moved into pending in December. This impressive home at the Plaza Lofts at Kierland has three bedrooms, two and one-half bathrooms and 3,567 square feet. It was listed for $3,750,000.
Optima Camelview had a pending sale. It had two bedrooms, two and one-half bathrooms and 1,955 square feet. It was listed for $1,000,000.
ICON at Silverleaf – ICON is currently under development:
- Three bedrooms, three and one-half bathrooms, 3,170 square feet. Listed for $2,174,000.
- Three bedrooms, three and one-half bathrooms, 3,170 square feet. Listed for $2,174,000.
- Three bedrooms, three bathrooms, 3,170 square feet. Listed for $2,074,000.
- Three bedrooms, three bathrooms, 3,170 square feet. Listed for $2,074,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were two sales in December, one in each city.

Scottsdale Condo Sale

The Landmark Condominiums: Three bedrooms, two and three-quarters bathrooms, 2,504 square feet. It had been listed for $1,250,000 and sold for $1,200,000.

Phoenix Condo Sale

Two Biltmore Estates: Three bedrooms, three and one-half bathrooms, 4,817 square feet. It had been listed for $2,748,000 and sold for list price.

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 1/1/2019 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 – December 2018

January 9, 2019 By Heather Tawes Nelson

– December 2018 Scottsdale Housing Market Video –

December 2018 – Video

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

Scottsdale Active Listings

Here is the number of homes for sale at the end of December 2018 compared to the end of December 2017. Inventory year-over-year was down 14%.

Here is the same information, but in this case, we are looking at the end of December 2018 compared to the end of November 2018. The number of homes for sale was down 7%.

Median List Price for Scottsdale Homes

The median list price is the exact midpoint of prices of homes for sale. One half of the homes for sale are priced higher and one half are priced lower.

In December 2018, the median list price in Scottsdale was $912,500. This is up over the same time last year when this figure came in at $875,000.

Days on Market

Days on Market (also known as DOM) is a quick and easy measurement to get a sense of how hot or sluggish a market is. When the DOM is high, homes are selling at a slower pace. When the DOM is low, homes are selling more quickly.

The December Days on Market for Scottsdale figure was 88. This is down 5% from the same time period last year.

Median Sales Price for Scottsdale Homes

Here is the median price again, but in this case, we are now looking at the sales prices of homes.

The median sales price in December 2018 was $599,000. This is up from the December 2017’s median sales price of $555,000. However, it came in lower than November 2018’s median sales price of $610,000.

Number of Homes Sold

This last part looks at home sales activity.

This top image compares home sales on a year-over-year basis. The number of homes sold declined by 13% between the two years.

This lower image takes a look at month-over-month sales activity.

Sales were down month-over-month too, coming in 1% lower than the end of November.

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

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

Scottsdale AZ Single Family Home Sales – December 2018

January 6, 2019 By Heather Tawes Nelson

– December 2018 Scottsdale Homes for Sale and Home Sales –

The Scottsdale real estate market closed out December as anticipated, with slower sales and lower inventory. However, we did see robust sales in the $1 million to $1.5 million range.

SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2018

Every month, we look at the sales performance for the four different items that follow:

– Single-family homes for sale – The orange line tracks how many homes were for sale at the end of the month.*
– Under contract, but accepting backup offers (UCB) – The grey line tracks how many homes were in UCB status at the end of the month.*
– Pending home sales – The yellow line tracks the number of pending sales at the end of the month.*
– Home Sales – The blue line tracks the number of home sales.

DECEMBER 2018 RESULTS

Scottsdale Homes for Sale: Inventory fell a little over 4% to 1,665 at the end of the month. This drop can usually be attributed to listings expiring on the last day of the year.
UCB (Under contract, accepting backup offers): UCB contracts quite a bit to the lowest level we have seen all year.
Pending Homes Sales in Scottsdale: Pending sales also fell to the lowest level of the year, coming in below 200.
Scottsdale Home Sales: Home sales only fell by one between November and December.

This next part is a look at two other items we track on a monthly basis:

The top chart shows how each of the items we are tracking performed compared to the previous month. For example, pending sales fell 16.2% between the end of December and the end of November.

The bottom chart is called Sales Price to List Price. To calculate this, the average home sales price is compared to the average home asking price. In December, this came in at 96.3% – or homes sold on average for 3.7% off of asking price.

December was a quieter month and based on UCB and pending figures, January should also be somewhat quiet.

*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.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2019. 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 – November 2018

December 22, 2018 By Heather Tawes Nelson

– Scottsdale AZ Luxury Home Market Performance for November 2018 –

Although November tends to be a month with lower activity, the Scottsdale luxury home market turned in a decent performance.

This report looks at sales activity for the luxury home market in Scottsdale. These homes are all listed for $1+ million and the information has been broken down further into four price bands.

Each month, we track the following things:
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 at the end of the month.
Sold – The number of homes sold.

– NOVEMBER 2018 –

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

– Active Scottsdale Homes on the Market: Inventory was up for the fourth month in a row to 284. This is just below the 12 month average of 288.
– UCB Scottsdale Home Sales: UCB contracts fell to twenty-four.
– Pending Scottsdale Home Sales: Pending sales came in higher at thirty, which is strong for this time of year.
– Scottsdale Homes Sold: Sales were also up. There were 35 sales in November, an improvement over September and October.
– Sales Price to Listed Price: 94.4% – On average, buyers saw a discount off of list price of 5.6%

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

– Active Scottsdale Homes on the Market: The number of homes for sale inched up again in November, closing out the month at just under 200.
– UCB Scottsdale Home Sales: Homes in UCB status fell to the second-lowest level they have been in the past twelve months.
– Pending Scottsdale Home Sales: Pending sales logged in at ten, also the second-lowest performance of the past year.
– Scottsdale Homes Sold: There were eighteen home sales in November, which is just ahead of the 12 month average of seventeen.
– Sales Price to Listed Price: 96.4% – On average, buyers saw a discount off of list price of 3.6%.

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

– Active Scottsdale Homes on the Market: At the end of November, there were 136 homes on the market in this price point. This is still below the 12 month average of 158.
– UCB Scottsdale Home Sales: The number of UCB homes dropped to six.
– Pending Scottsdale Home Sales: Pending sales, on the other hand, jumped to ten.
– Scottsdale Homes Sold: Home sales fell sharply after an extremely strong sales month in October.
– Sales Price to Listed Price: 94.7% – On average, buyers saw a discount off of list price of 5.3%.