Scottsdale Luxury Home Market Update - January 2022

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JANUARY Home of the CLHMS

TM

SCOTTSDALE ARIZO N A www.LuxuryHomeMarketing.com

2022


SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | DECEMBER 2021 Inventory

Sales

Luxury Benchmark Price 1: $1,100,000 $4,500,000+ $3,900,000 - $4,499,999 $3,500,000 - $3,899,999

49

12 16

8

Total Inventory: 241 20

3

$3,100,000 - $3,499,999

10

$2,700,000 - $3,099,999

12

$2,300,000 - $2,699,999

14

16

Seller's Market

16

Total Sales Ratio2: 89%

15

16

$1,900,000 - $2,299,999

22

$1,700,000 - $1,899,999 15

$1,400,000 - $1,499,999

12

$1,300,000 - $1,399,999

12

5

17 20

12 7

$1,150,000 - $1,199,999

1

34

10 10

$1,250,000 - $1,299,999

$1,100,000 - $1,149,999

27

22

$1,500,000 - $1,699,999

$1,200,000 - $1,249,999

Total Sales: 214

5

10 8

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$1,350,000

4

3

77

63

122%

3,500 - 4,499

$1,700,000

4

4

73

52

140%

4,500 - 5,499

$2,275,000

4

5

35

40

88%

5,500 - 6,499

$3,900,000

4

5

17

40

43%

6,500 - 7,499

$4,300,000

5

7

6

17

35%

7,500+

$4,650,000

5

7

6

29

21%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.


SCOTTSDALE

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,650,000

$1,655,000

$1,480,750

$1,549,500

$1,650,000

$1,575,000

399 316 222

Dec-20

311 154

Jan-21

311 192

Feb-21

268

Mar-21

316

262

Apr-21

290 271

May-21

Inventory

$1,665,000

326

248

Jun-21

$1,550,000

308

Solds

$1,577,768

307 207

Jul-21

$1,575,100

$1,500,000

297

292

174

Aug-21

$1,675,000 $1,487,500

266

Sep-21

Oct-21

241 214

186

185

181

Nov-21

Dec-21

MEDIAN DATA REVIEW | DECEMBER TOTAL INVENTORY Dec. 2020

Dec. 2021

399

241 VARIANCE: -40 % SALE PRICE PER SQFT. Dec. 2020

Dec. 2021

458 VARIANCE: 29 %

$

356

$

TOTAL SOLDS Dec. 2020

SALES PRICE

Dec. 2021

222

214 VARIANCE: -4 %

Dec. 2020

SALE TO LIST PRICE RATIO Dec. 2020

1.48m

$

Dec. 2021

97.17% 100.00% VARIANCE: 3 %

Dec. 2021

1.68m VARIANCE: 13 % $

DAYS ON MARKET Dec. 2020

Dec. 2021

61

32 VARIANCE: -48 %

SCOTTSDALE MARKET SUMMARY | DECEMBER 2021 • The Scottsdale single-family luxury market is a Seller's Market with a 89% Sales Ratio. • Homes sold for a median of 100.00% of list price in December 2021. • The most active price band is $1,200,000-$1,249,999, where the sales ratio is 240%. • The median luxury sales price for single-family homes is $1,675,000. • The median days on market for December 2021 was 32 days, down from 61 in December 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.

3


SCOTTSDALE

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | DECEMBER 2021 Inventory

Sales

Luxury Benchmark Price 1: $600,000 $2,600,000+ $2,400,000 - $2,599,999 $2,200,000 - $2,399,999

2

1

Total Inventory: 64

0 0

$2,000,000 - $2,199,999

$1,800,000 - $1,999,999

13

2

Total Sales: 82 1

0

2

Seller's Market

2

Total Sales Ratio2: 128%

$1,600,000 - $1,799,999

5

3

5

$1,400,000 - $1,599,999 $1,200,000 - $1,399,999

9

3 2

$1,000,000 - $1,199,999 $900,000 - $999,999

6

1

10 4

8

$800,000 - $899,999 4

$750,000 - $799,999

10

2

$700,000 - $749,999

7 7

$650,000 - $699,999

9

2

$600,000 - $649,999

1

12

14

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$702,500

2

2

11

15

73%

1,500 - 1,999

$735,000

2

2

31

20

155%

2,000 - 2,499

$825,000

3

3

28

8

350%

2,500 - 2,999

$1,052,500

3

3

8

4

200%

3,000 - 3,499

$868,000

3

4

3

9

33%

3,500+

$3,769,000

3

5

1

8

13%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.


SCOTTSDALE

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$690,000

$725,000

$722,500

149

121

105 69

Dec-20

76

52

Jan-21

Feb-21

$760,000

$750,000

114

103 104

93

Mar-21

Apr-21

Inventory

$725,000

$725,000

88

93

88

May-21

98

Jun-21

$787,500

82

70

Jul-21

Solds

$750,000

$749,975

$774,000

$781,000

83

85

78

78

60

Aug-21

48

Sep-21

62

Oct-21

$805,000

72

64

Nov-21

82

Dec-21

MEDIAN DATA REVIEW | DECEMBER TOTAL INVENTORY Dec. 2020

Dec. 2021

149

TOTAL SOLDS Dec. 2020

Dec. 2021

64 VARIANCE: -57 %

82 VARIANCE: 19 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Dec. 2020

Dec. 2021

413 VARIANCE: 20 %

$

343

$

69

Dec. 2020

Dec. 2021

98.87% 99.16% VARIANCE: 0 %

SALES PRICE Dec. 2020

$

690k

Dec. 2021

805k VARIANCE: 17 % $

DAYS ON MARKET Dec. 2020

Dec. 2021

34

39 VARIANCE: 15 %

SCOTTSDALE MARKET SUMMARY | DECEMBER 2021 • The Scottsdale attached luxury market is a Seller's Market with a 128% Sales Ratio. • Homes sold for a median of 99.16% of list price in December 2021. • The most active price band is $600,000-$649,999, where the sales ratio is 700%. • The median luxury sales price for attached homes is $805,000. • The median days on market for December 2021 was 39 days, up from 34 in December 2020. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.

3


Your Luxury Expert Team John A. Sposato is the founder and team leader of the Arizona Home Group, and has been selling Real Estate in the Phoenix Metro area since 1993. John’s area expertise covers the entire NE Valley, to include all of Scottsdale, Paradise Valley, The Biltmore, Cave Creek/Carefree and Desert Ridge. The goal of the Arizona Home Group has always been to provide you with A Better Real Estate Experience. John and his team have delivered world class service to thousands of clients for close to 3 decades. Helping his buyers and sellers make an educated decision and negotiating the best price for them are what sets him apart from his peers. Let John help you to navigate the process of selling your largest asset, with honesty, integrity and an attention to detail that is second to none.

Check out some of our reviews: “ John and his team are the BEST!. We interviewed other agents, but once we met with John it was clear that he was the right realtor for us. Buying a home in Scottsdale AZ is hard work and John stuck by us every step of the way. After looking at 48 houses, we just closed on a fabulous property yesterday and it never would have happened if it wasn’t for John and his team. Patience, professionalism and just good people, they stuck by us through the entire process. Would give this group 10 stars if I could. Shout out to Nick, thanks for all your support! Thanks John and team for everything!” Catherine K. “ We worked with John and his team selling our home of 21 years. Everyone was professional, kind and courteous. John went above and beyond for us to get our house sold. I would recommend this company Juli M. to anyone buying and selling a home. Can’t wait to work with them again.” “ Actual real estate agents have specific qualities that define them: power of negotiation, transparency, and trust. I can say that John Sposato, the real estate agent that I worked with during my house buying transaction, has all of these qualities. Thank you very much for a job well done.” Sal M. “ John and his team are hands down the best in the business. John helped us buy our first home and throughout the entire process was very personable, knowledgeable, and reliable. We really appreciated how he explains every step of the process so we can be fully aware of what is happening. 10/10 would recommend John to buy/sell a house.” Jason A.

John A. Sposato PC, CDPE, CIAS ABR, CRS john@arizonahomegroup.com 602.571.3730

#AHGScottsdaleRealtor

www.ArizonaHomeGroup.com Find Us and Subscribe on YouTube: Arizona Home Group


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