Scottsdale Luxury Market Report - March 2022

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MARCH Home of the CLHMS

TM

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.

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