– Scottsdale Luxury Home Market Performance for December 2020 –
I have been tracking this data monthly since 2007 and can safely say I have never seen numbers like this in the luxury segment before. Sales activity shattered any previous records as the last month of 2020 came to a close.
This report covers the luxury home market in Scottsdale. Each of the homes had list prices in excess of $1 million.
Each month, we look at the following four items:
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 that month.
– December 2020 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was almost non-existent at the end of December. The 12 month average is almost double this figure!
– UCB Scottsdale Home Sales: The number of UCB contracts fell in December as would be expected during the holiday season.
– Pending Scottsdale Home Sales: Pending homes saw a sharp decline (97.4%). This could be due to the holidays partnered with very little inventory.
– Scottsdale Homes Sold: One hundred twenty-five homes sold in December! This is by far the highest I have ever seen this figure. The 12 month average is 70, so this is almost double that amount!
– Sales Price to Listed Price: 96.6% – On average, buyers saw a discount off of list price of 3.4%.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory was down slightly between November and December, but it is still very low.
– UCB Scottsdale Home Sales: The number of UCBs was down about 45% compared with the month prior.
– Pending Scottsdale Home Sales: Pending sales were level, closing out the month at thirty. This ties for the second-highest performance of the year.
– Scottsdale Homes Sold: Home sales also had their best month in December with forty-five.
– Sales Price to Listed Price: 96.9% – On average, buyers saw a discount off of list price of 3.1%.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was the lowest we have seen in the past year, as we are seeing all over Scottsdale and in all price points.
– UCB Scottsdale Home Sales: The number of UCBs dropped sharply.
– Pending Scottsdale Home Sales: Pending sales were up again and turned in the best performance of 2020.
– Scottsdale Homes Sold: Sales were way above average with forty-one sales in December. This is unheard of in this price point.
– Sales Price to Listed Price: 95.0% – On average, buyers saw a discount off of list price of 5%.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale fell in December after being level for several months.
– UCB Scottsdale Home Sales: The number of UCBs fell by one, but this is still ahead of the 12 month average.
– Pending Scottsdale Home Sales: Pending sales hit the highest level we have seen in the over $3 million market, closing out the month at thirty!
– Scottsdale Homes Sold: There were twenty-three home sales in December, the second-highest performance in this segment of the market.
– Sales Price to Listed Price: 96.2% – On average, buyers saw a discount off of list price of 3.8%.
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 1/1/2021 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 ©2021 Heather Tawes Nelson | Joyce Tawes
