– Scottsdale Luxury Home Market Performance for October 2024 –
October was marked by increasing inventory, fewer contracts and some decent sales activity.
This report examines sales activity of luxury homes in Scottsdale. All of these homes had asking prices of $1 million or more. To provide additional detail, we split the information into four price bands.
– OCTOBER 2024 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market: Inventory was up for the second month in a row and October ended with the highest number of homes for sale in the past year.
– UCB Scottsdale Home Sales: UCBs fell again in October, but they were on par with the 12 month average of 38.
– Pending Scottsdale Home Sales: Pendings were up 14% over September, likely due to the dip in mortgage rates we experienced.
– Scottsdale Homes Sold: An impressive 81 homes sold in October, making it the third-highest month of sales in the past year.
– Sales Price to Listed Price: 95.7% – On average, buyers saw a discount of 4.3% off of list price.
Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: There was a 17.2% increase in the number of homes for sale in this price point.
– UCB Scottsdale Home Sales: UCB contracts remained level between September and October.
– Pending Scottsdale Home Sales: Pending contracts fell slightly to 21, coming in under the 12 month average.
– Scottsdale Homes Sold: We saw a nice bump in home sales and the month ended on par with the 12 month average.
– Sales Price to Listed Price: 97.2% – On average, buyers saw a discount of 2.8% off of list price.
Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was up 16.3% over September and is now above the 12 month average.
– UCB Scottsdale Home Sales: After a couple of slower months, UCB contracts rebounded in October.
– Pending Scottsdale Home Sales: Pending contracts fell however. October was the second lowest we have seen them in the past year.
– Scottsdale Homes Sold: Home sales were up compared to September, but came in slightly below the 12 month average.
– Sales Price to Listed Price: 95.1% – On average, buyers saw a discount of 4.9% off of list price.
Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market: The number of homes for sale in this price point increased quite a bit, going to levels we have not seen since May.
– UCB Scottsdale Home Sales: UCBs were down slightly at the end of the month.
– Pending Scottsdale Home Sales: Pendings were also down slightly at the end of the month.
– Scottsdale Homes Sold: Twenty-seven homes sold in October, up from the 24 we saw in August and September.
– Sales Price to Listed Price: 96.1% – On average, buyers saw a discount of 3.9% off of list price.
If you would like additional details 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
Here is a sample of some luxury homes that are currently for sale:
MLS IDX Listing Disclosure © 2024
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2024 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 ©2024 Heather Tawes Nelson | Joyce Tawes