SC O T T S D A L E ARI ZO N A –July 2018–
Presented by: The Lifestyle Collection at Keller Williams Luxury www.LifestyleCollectionRE.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JUNE 2018 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,300,000 - $4,999,999
31
1 14
0
$3,700,000 - $4,299,999 $3,200,000 - $3,699,999
$2,700,000 - $3,199,999
27
3
Total Sales: 130 Balanced Market
30
2
Total Sales Ratio2: 16%
44
3
$2,300,000 - $2,699,999
68
6
$2,000,000 - $2,299,999 $1,800,000 - $1,999,999
Total Inventory: 812
47
5
74
3
$1,600,000 - $1,799,999
88
12
$1,400,000 - $1,599,999
99
17
$1,300,000 - $1,399,999
53
13
$1,200,000 - $1,299,999
60
11
$1,100,000 - $1,199,999
65
18
$1,000,000 - $1,099,999
53
19
$950,000 - $999,999
59
17
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
NA
NA
NA
0
20
0%
3,000 - 3,999
$1,112,000
4
4
32
133
24%
4,000 - 4,999
$1,272,274
4
5
51
255
20%
5,000 - 5,999
$1,442,000
4
5
31
176
18%
6,000 - 6,999
$2,450,000
4
6
8
112
7%
7,000+
$3,107,500
6
7
8
116
7%
The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory. 1
SCOTTSDALE
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,300,000
494
$1,300,000
463 107
Jun-17
$1,287,500
70
61
Aug-17
Sep-17
63
$1,304,750
$1,156,000
664
614
505
449
Jul-17
$1,350,000 $1,180,000
Inventory
50 Oct-17
$1,299,000
$1,320,000
67
74
Nov-17
Dec-17
75 Jan-18
$1,312,500
821
786
732
659
Solds
64 Feb-18
$1,245,000
810
112
$1,300,000
812
787
Apr-18
130
117
101
Mar-18
$1,292,500
May-18
Jun-18
MEDIAN DATA INVENTORY May
June
787
812 VARIANCE: 3 %
SALE PRICE PER SQFT. May
June
312
296 VARIANCE: -5 %
$
$
SOLDS May
SALES PRICE June
117
130 VARIANCE: 11 %
SALE TO LIST PRICE RATIO May
June
95.24% 95.58% VARIANCE: 0 %
May
$
1.30m
June
1.29m VARIANCE: -1 % $
DAYS ON MARKET May
June
124
110 VARIANCE: -11 %
SCOTTSDALE MARKET SUMMARY | JUNE 2018 • The Scottsdale single-family luxury market is a Balanced Market with a 16% Sales Ratio. • Homes sold for a median of 95.58% of list price in June 2018. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 36%. • The median luxury sales price for single-family homes has decreased to $1,292,500. • The median days on market for June 2018 was 110 days, down from 124 in May 2018.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Historical data before August 2017 does not account for listings taken off the market.
3
SCOTTSDALE
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | JUNE 2018 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999 $900,000 - $999,999
$850,000 - $899,999 $800,000 - $849,999
12
2 3
1
4
0
Seller's Market Total Sales Ratio2: 21%
14
0 7
0
5
1
$700,000 - $749,999
4
6 12
0 2 2
$650,000 - $674,999 $625,000 - $649,999
4
1 2 2
$600,000 - $624,999
$575,000 - $599,999 $550,000 - $574,999
Total Sales: 25
3
0
$750,000 - $799,999
$675,000 - $699,999
Total Inventory: 117
12
4 9
0
$520,000 - $549,999
22
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$607,500
3
3
24
89
27%
3,000 - 3,999
$600,000
3
3
1
21
5%
4,000 - 4,999
NA
NA
NA
0
3
0%
5,000 - 5,999
NA
NA
NA
0
2
0%
6,000 - 6,999
NA
NA
NA
0
2
0%
7,000+
NA
NA
NA
0
0
NA
The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory. 1
SCOTTSDALE
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$580,000
79
$647,678
$599,990
13 Jun-17
11
18
Aug-17
Sep-17
16
Jul-17
$730,750 $624,995
116
108
91
73
71
$662,500
Inventory
16
Oct-17
$636,000
104
18
26
Nov-17
Dec-17
Solds
$625,000
$644,000
$650,000
128
137
133
26
22 Jan-18
Feb-18
39
$620,000
$593,000
108
100
33
Mar-18
Apr-18
$600,000
117
26
25
May-18
Jun-18
MEDIAN DATA INVENTORY May
SOLDS
SALES PRICE
June
May
117 VARIANCE: 17 %
26
25 VARIANCE: -4 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
100
May
$
June
269
285 VARIANCE: 6 % $
May
June
June
97.77% 97.00% VARIANCE: -1 %
May
593k
$
June
600k VARIANCE: 1 % $
DAYS ON MARKET May
June
58
63 VARIANCE: 9 %
SCOTTSDALE MARKET SUMMARY | JUNE 2018 • The Scottsdale attached luxury market is a Seller's Market with a 21% Sales Ratio. • Homes sold for a median of 97.00% of list price in June 2018. • The most active price bands are $600,000-$624,999 and $650,000-$674,999, where the sales ratio is 100%. • The median luxury sales price for attached homes has increased to $600,000. • The median days on market for June 2018 was 63 days, up from 58 in May 2018. Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Historical data before August 2017 does not account for listings taken off the market.
3