Scottsdale Luxury Market Update - February 2022 Sharon

Page 1

FEBRUARY Home of the CLHMS

TM

SCOTTSDALE ARIZO N A www.LuxuryHomeMarketing.com

2022


SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2022 Inventory

Sales

Luxury Benchmark Price 1: $1,100,000 57

$4,500,000+

5 17

$3,900,000 - $4,499,999

5

10 11 16

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

12

13

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

28 17

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

16 9

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

24 13

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

9

12

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

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

1

Total Sales Ratio2: 83%

17

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

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

Seller's Market

16

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

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

Total Sales: 180

17

$3,500,000 - $3,899,999

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

Total Inventory: 217

2

29 8

1 1 10 2 9

2 9

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$1,351,000

4

3

77

49

157%

3,500 - 4,499

$1,790,000

4

4

59

49

120%

4,500 - 5,499

$2,225,000

4

5

20

27

74%

5,500 - 6,499

$3,100,000

5

6

13

37

35%

6,500 - 7,499

$3,200,000

5

6

3

20

15%

7,500+

$3,450,000

5

7

8

35

23%

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

316

$1,655,000 $1,549,500

311 154

Jan-21

311

$1,650,000

316

268

262

$1,575,000

290 271

$1,665,000 $1,550,000

326

308

248

192

Feb-21

Mar-21

Apr-21

May-21

Inventory

Jun-21

$1,577,768

307 207

Jul-21

Solds

$1,500,000

297

292

Sep-21

$1,675,000

266

Oct-21

$1,682,500

$1,487,500

241

186

185

181

174

Aug-21

$1,575,100

Nov-21

217

214

Dec-21

180

Jan-22

MEDIAN DATA REVIEW | JANUARY TOTAL INVENTORY Jan. 2021

Jan. 2022

316

217 VARIANCE: -31 % SALE PRICE PER SQFT. Jan. 2021

Jan. 2022

379

461 VARIANCE: 22 %

$

$

TOTAL SOLDS Jan. 2021

SALES PRICE

Jan. 2022

154

180 VARIANCE: 17 %

Jan. 2021

$

SALE TO LIST PRICE RATIO Jan. 2021

Jan. 2022

97.12% 100.00% VARIANCE: 3 %

1.65m

Jan. 2022

1.68m VARIANCE: 2 % $

DAYS ON MARKET Jan. 2021

Jan. 2022

64

31 VARIANCE: -52 %

SCOTTSDALE MARKET SUMMARY | JANUARY 2022 • The Scottsdale single-family luxury market is a Seller's Market with a 83% Sales Ratio. • Homes sold for a median of 100.00% of list price in January 2022. • The most active price band is $1,200,000-$1,249,999, where the sales ratio is 1000%. • The median luxury sales price for single-family homes is $1,682,500. • The median days on market for January 2022 was 31 days, down from 64 in January 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 | JANUARY 2022 Inventory

Sales

Luxury Benchmark Price 1: $600,000 23

$2,600,000+

2 4

$2,400,000 - $2,599,999 $2,200,000 - $2,399,999

0 0

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

0 0

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

Total Inventory: 71

1

Total Sales: 66 Seller's Market

0 1

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

2

10

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

3 8

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

4 2

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

5 2

$900,000 - $999,999

7

7

$800,000 - $899,999

9 3

$750,000 - $799,999

$700,000 - $749,999 $650,000 - $699,999 $600,000 - $649,999

1

Total Sales Ratio2: 93%

6

10 0 5 2 11

3 7

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$650,000

2

2

11

12

92%

1,500 - 1,999

$747,500

2

2

28

19

147%

2,000 - 2,499

$862,500

3

3

16

10

160%

2,500 - 2,999

$1,015,000

3

3

9

8

113%

3,000 - 3,499

$2,750,000

2

4

2

7

29%

3,500+

NA

NA

NA

0

15

0%

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

$725,000

$760,000

$722,500

121

105

114 93

$750,000

103 104

76

Inventory

$787,500 $725,000

88

88

$725,000

93

98

82

70

$750,000

$749,975

83

85 60

52

Jan-21

Feb-21

Mar-21

Apr-21

May-21

Jun-21

Jul-21

Solds

Aug-21

$774,000

$781,000

78

78

48

Sep-21

62

Oct-21

72

Nov-21

$805,000

$792,500

82

71

64

Dec-21

66

Jan-22

MEDIAN DATA REVIEW | JANUARY TOTAL INVENTORY Jan. 2021

Jan. 2022

105

TOTAL SOLDS Jan. 2021

Jan. 2022

71 VARIANCE: -32 %

66 VARIANCE: 27 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Jan. 2021

Jan. 2022

379

431 VARIANCE: 14 %

$

$

52

Jan. 2021

Jan. 2022

98.58% 99.40% VARIANCE: 1 %

SALES PRICE Jan. 2021

$

725k

Jan. 2022

793k VARIANCE: 9 % $

DAYS ON MARKET Jan. 2021

Jan. 2022

51

36 VARIANCE: -29 %

SCOTTSDALE MARKET SUMMARY | JANUARY 2022 • The Scottsdale attached luxury market is a Seller's Market with a 93% Sales Ratio. • Homes sold for a median of 99.40% of list price in January 2022. • The most active price band is $650,000-$699,999, where the sales ratio is 550%. • The median luxury sales price for attached homes is $792,500. • The median days on market for January 2022 was 36 days, down from 51 in January 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. After 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


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