Below is a look at January 2010’s home sales activity for the Scottsdale AZ luxury home market. This report covers sales activity for single-family resale homes in Scottsdale priced at $1,000,000 and above over the last 12 months.
– January 2010 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Actives: There were 366 active homes on the market in this price range. This was up slightly over November’s 358 and December’s 341, but is still below the 12 month average of 418.
– Pendings: At the end of the month, there were twenty pending home sales. This was an improvement over December’s 17, but is still tracking behind the 12 month average of 28.
– Sold: Only 17 homes sold in January in this price range. This is the lowest this figure has been since March of 2009. The 12 month average is 20 sales per month.
– Sales Price to Listed Price: 89.8% – This is pretty typical for this price point.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Actives: There were 239 homes for sale in this segment. Again, it was slightly up over December’s 230, but still well below the 12 month average of 256.
– Pendings: Nineteen homes were pending sale at the end of January. This is a very strong number and is ahead of the average of 15 pending sales per month.
– Sold: Home sales in January were strong again, coming off of a strong December. There were 12 home sales in this price range. The 12 month average is 9.
– Sales Price to Listed Price: 82.4% – This is the lowest this ratio has been since I started tracking the figures in September of 2007. Typically, this number hovers in the high 80%’s and low 90%’s.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Actives: 227 homes were for sale in this price point. This figure has been dropping since November 2009 and the 12 month average is 271.
– Pendings: We saw a huge jump (45.5% ) in pending home sales in January with a total of 16. We have not seen a number like this since May of 2008. The 12 month average for pending sales is 8.
– Sold: Nine homes sold in January, which was another great performance. The last time we saw 9 home sales in a month was July of 2009. The 12 month average is 6.
– Sales Price to Listed Price: 86.2% – This is a little low as this ratio is typically in the high 80%’s and low 90%’s.
Scottsdale Homes Priced $3,000,000+
– Actives: There were 146 active homes on the market with asking prices in excess of $3 million. This number was up slightly (2%) over December, but is still well below the 12 month average of 183.
– Pendings: Four homes were pending sale at the end of the month. This is right on par with the 12 month average of 4.
– Sold: Sales saw a nice jump in January, up to 4 over December’s single sale. This is also ahead of the 12 month average of 3.
– Sales Price to Listed Price: 79.0% – This ratio changes dramatically from month to month. Usually, it is somewhere in the 80%’s, so this was a little low.
Overall, January was a pretty strong month for the Scottsdale luxury home market. With the exception of the $1 million to $1.5 million price range, we saw nice jumps in home sales and pending home sales in the other Scottsdale luxury home price segments. For the most part, inventory was up, but the increases were not too dramatic. Based on the pending home sales data, February should be another decent month.
To see the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the “Scottsdale Market Trends” report.
Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 implied or expressed.
Copyright © 2010 Heather Tawes Nelson