Below is an update on the current luxury market trends in Scottsdale for May 2019. This detailed chart breaks down the inventory and sales for all luxury homes on the market in Scottsdale. There are 980 homes for sale in Scottsdale priced at $950,000-$5 million plus. Last month there were 124 sales in that price range, which is a sales ratio of 13%.
The best-selling luxury homes were in the 3000-4000 sq ft range. This is a clear trend over the past several years. Most luxury buyers want “small and special”. They would prefer to have a home built with the highest end features and the best materials, rather than an oversized home. There are very few buyers looking for homes over 7000 sq ft. Gone are the days when buyers wanted massive homes.
The average sales price of luxury homes in Scottsdale was 96.25% of the list price. So buyers can expect 4-5% room for negotiation on average. It takes an average of 96 days to sell a luxury home in Scottsdale.
Feel free to contact me with any questions. I specialize in representing buyers and sellers in the most exclusive communities in Scottsdale.
Carmen Brodeur JD
Trillium Properties, LLC