August Scottsdale Luxury Home Market Update

The Bacon House at Desert Mountain (see the listing here).
 
 
The next set of luxury home statistics have arrived! The market is still going strong according to numbers pulled for July home sales. Let’s dive into some of the most notable single-family home statistics gleaned from the report:
 
 

Still a Seller’s Market

With a 67% sales ratio, the streak continues. Although inventory was reported lower than the previous year, we are still seeing a significant amount of luxury home sales at a 40% increase compared to July 2020.
 

Inventory is Going Fast

Transactions in July kept pace with the high momentum of recent months. Homes spent an average of 33 days on the market, down from 82 last year!
 

Significant Sales in the Most Active Price Band

Homes in the $1,500,000-$1,699,999 bracket saw a whopping 167% sales ratio!
 

Homes Are Selling at List Price

Sales averaged at 100% of the listing prices. Of the total homes listed for the month, the median sales price was about $1,550,000.
 
 
I hope that you’ve enjoyed these insights into the current Scottsdale luxury market! If you’re looking to find the perfect home in the Scottsdale area or otherwise, feel free to check our local listings. Additionally, I’m here for you at 480-355-8645 if you’d like to reach out for more information.

About the Author
Gina is an Associate Broker with RE/MAX Fine Properties and the Team Leader for The Gina McKinley Group. She is dedicated to selling homes in Arizona and passionate about providing the ultimate customer service experience through her expertise in the field.