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SCOTTSDALE ARIZO N A www.LuxuryHomeMarketing.com
2022
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | FEBRUARY 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $4,500,000+
56
9
$3,900,000 - $4,499,999 $3,500,000 - $3,899,999
17
11
17
1
$3,100,000 - $3,499,999
10
Total Sales Ratio2: 99%
12 12
13
$1,900,000 - $2,299,999
31
9
$1,700,000 - $1,899,999
21 17
$1,500,000 - $1,699,999 4
$1,400,000 - $1,499,999
30
16
7
$1,300,000 - $1,399,999
21 10
$1,250,000 - $1,299,999
11
5
$1,200,000 - $1,249,999
1
Seller's Market 25
$2,300,000 - $2,699,999
$1,100,000 - $1,149,999
Total Sales: 215 18
9
$2,700,000 - $3,099,999
$1,150,000 - $1,199,999
Total Inventory: 218
13
2
9
6
11
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,499
$1,317,500
4
3
90
47
191%
3,500 - 4,499
$1,918,000
4
4
70
51
137%
4,500 - 5,499
$2,055,000
4
5
29
38
76%
5,500 - 6,499
$3,330,000
5
5
14
28
50%
6,500 - 7,499
$4,387,500
5
6
5
18
28%
7,500+
$4,150,000
6
7
7
36
19%
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
$1,655,000
311
$1,549,500
311
268
$1,650,000
316
262
$1,575,000
290 271
192
Feb-21
Mar-21
Apr-21
May-21
$1,665,000
326
248
Jun-21
$1,550,000
308
Inventory
$1,577,768
307 207
Jul-21
$1,500,000
$1,575,100
297
292
Sep-21
$1,675,000
Oct-21
$1,682,500
$1,675,000
$1,487,500
266 185
181
174
Aug-21
Solds
241
186
Nov-21
214
217
Dec-21
218 215
180
Jan-22
Feb-22
MEDIAN DATA REVIEW | FEBRUARY TOTAL INVENTORY Feb. 2021
Feb. 2022
311
218 VARIANCE: -30 % SALE PRICE PER SQFT. Feb. 2021
Feb. 2022
378
482 VARIANCE: 28 %
$
$
TOTAL SOLDS Feb. 2021
SALES PRICE
Feb. 2022
192
215 VARIANCE: 12 %
Feb. 2021
$
SALE TO LIST PRICE RATIO Feb. 2021
Feb. 2022
97.65% 100.00% VARIANCE: 2 %
1.66m
Feb. 2022
1.68m VARIANCE: 1 % $
DAYS ON MARKET Feb. 2021
Feb. 2022
54
26 VARIANCE: -52 %
SCOTTSDALE MARKET SUMMARY | FEBRUARY 2022 • The Scottsdale single-family luxury market is a Seller's Market with a 99% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2022. • The most active price band is $1,150,000-$1,199,999, where the sales ratio is 450%. • The median luxury sales price for single-family homes is $1,675,000. • The median days on market for February 2022 was 26 days, down from 54 in February 2021.
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 | FEBRUARY 2022 Inventory
Sales
Luxury Benchmark Price 1: $600,000 $2,600,000+ $2,400,000 - $2,599,999 $2,200,000 - $2,399,999
23
0 4
0 0
$2,000,000 - $2,199,999
$1,800,000 - $1,999,999
1
Total Sales: 68
1 1
Seller's Market
4
2
$1,200,000 - $1,399,999
11
3 3
$1,000,000 - $1,199,999 $900,000 - $999,999
4
1
$1,400,000 - $1,599,999
Total Sales Ratio2: 86%
3
1
$1,600,000 - $1,799,999
Total Inventory: 79
0
9
3
12
$800,000 - $899,999 $750,000 - $799,999 3 3 1
$650,000 - $699,999
1
9
7
$700,000 - $749,999
$600,000 - $649,999
13
11
0
14
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$830,000
2
2
11
12
92%
1,500 - 1,999
$680,000
2
2
31
10
310%
2,000 - 2,499
$885,000
3
3
19
23
83%
2,500 - 2,999
$888,000
3
4
3
13
23%
3,000 - 3,499
$1,150,000
3
4
3
9
33%
3,500+
$1,417,000
3
4
1
12
8%
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
$722,500
121
$760,000
114 76
Feb-21
$750,000
103 104
93
Mar-21
Apr-21
Inventory
$787,500 $725,000
88
88
May-21
$725,000
93
98
Jun-21
82
70
Jul-21
$750,000
$749,975
83
85 60
Aug-21
Solds
$774,000
$781,000
78
78
48
Sep-21
62
Oct-21
$805,000
72
64
Nov-21
82
$792,500
$780,000
71
79
Dec-21
66
Jan-22
68
Feb-22
MEDIAN DATA REVIEW | FEBRUARY TOTAL INVENTORY Feb. 2021
Feb. 2022
121
TOTAL SOLDS Feb. 2021
Feb. 2022
79 VARIANCE: -35 %
68 VARIANCE: -11 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Feb. 2021
$
Feb. 2022
370
412 VARIANCE: 11 % $
76
Feb. 2021
Feb. 2022
99.26% 100.05% VARIANCE: 1 %
SALES PRICE Feb. 2021
$
723k
Feb. 2022
780k VARIANCE: 8 % $
DAYS ON MARKET Feb. 2021
Feb. 2022
37
18 VARIANCE: -51 %
SCOTTSDALE MARKET SUMMARY | FEBRUARY 2022 • The Scottsdale attached luxury market is a Seller's Market with a 86% Sales Ratio. • Homes sold for a median of 100.05% of list price in February 2022. • The most active price band is $650,000-$699,999, where the sales ratio is 1100%. • The median luxury sales price for attached homes is $780,000. • The median days on market for February 2022 was 18 days, down from 37 in February 2021.
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 Born and raised in Pittsburgh, Sharon took a leap of faith with her now husband, Justin, and moved from PA to Phoenix in 2002. She met her now partner, John, when he sold them their first home, where she was instantly intrigued with real estate. She got her license in 2003 and has been a residential specialist since! The goal of the Arizona Home Group has always been to provide you with A Better Real Estate Experience. John, Sharon and the team have delivered world class service to thousands of clients, helping buyers and sellers make an educated decisions and negotiating the best prices. Let us 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: “ In two words, Sharon is an absolute “All Star”. As an out-of-state seller of an investment property, I knew I was in great hands from the word go. Sharon and her team took care of absolutely everything, all in a highly efficient and professional manner. Most importantly, Sharon was able to get me top dollar for the property, over the listing price, literally days after the house went on the market. Without a doubt, the best home selling experience I have ever had. If you want the best agent in the market working for you, Sharon should be your first and only choice.” Colin S. “ After terminating my existing agreement I found Sharon through a mutual friend. Being remote in Canada poses big challenges when selling a condo. Expectations to go ‘over & above’ mean more time, planning and sweat equity. We established expectations early and I was clear this sale wouldn’t be easy - Sharon never wavered. From day one when we partnered she assessed the quality of the current pictures taken, problem areas, renovations required and made immediate recommendations to ensure best value. A fter the Assessment and/or honeymoon phase I was sold on her professionalism and local knowledge. I invested a small amount of money which she project managed since I was remote handling all contractors, invoices and schedules. After successful conclusion we sold the Condo over asking... Not only was I thrilled with the financial outcome, the willingness to immerse herself in the project showed her commitment and ability to yield big results... Chris T. Thank-You Sharon for the great experience.....” “ First time home buyer and Sharon & her team couldn’t be any more helpful. From teaching me about the home buying process to applying their expertise, I was able to get the perfect home in my budget even in this market. If you are in need of a realtor in the valley, your search stops here as you wont find anyone better.” Dylan S.
Sharon Coffini REALTOR® SharonAHG@Gmail.com 480.225.5710
www.ArizonaHomeGroup.com Find Us and Subscribe on YouTube: Arizona Home Group