Luxury Property Report Scottsdale Arizona April 2019
Presented by
The Lifestyle Collection www.LifestyleCollectionRe.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | MARCH 2019 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,300,000 - $4,999,999 $3,700,000 - $4,299,999 $3,200,000 - $3,699,999
$2,700,000 - $3,199,999
59
1 33
0
40
2
3
93
80
8
87
6
$1,600,000 - $1,799,999
124
8
$1,400,000 - $1,599,999
114
9
54
4
$1,200,000 - $1,299,999
$950,000 - $999,999
Total Sales Ratio2: 8%
6
$1,800,000 - $1,999,999
$1,000,000 - $1,099,999
Buyer's Market 54
$2,000,000 - $2,299,999
$1,100,000 - $1,199,999
Total Sales: 87 44
4
$2,300,000 - $2,699,999
$1,300,000 - $1,399,999
Total Inventory: 1,095
79
10
89
6 56
8
89
12
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,017,500
3
3
8
36
22%
3,000 - 3,999
$1,189,000
4
4
25
230
11%
4,000 - 4,999
$1,317,000
5
5
25
309
8%
5,000 - 5,999
$2,100,000
6
5
20
232
9%
6,000 - 6,999
$2,800,000
7
6
5
129
4%
7,000+
$3,025,000
7
8
4
159
3%
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
$1,312,500
821
$1,300,000
$1,245,000
810
112 Mar-18
812
787
117
101
Apr-18
$1,292,500
May-18
$1,327,500
743
130
Jun-18
$1,490,000 $1,252,500
Jul-18
$1,430,000
82
66
Aug-18
Sep-18
Solds
$1,291,750
881
847
751
686
80
Inventory
84
Oct-18
$1,420,000
$1,250,000
68
72
Nov-18
Dec-18
1,095
1,039
989
869
$1,475,000
$1,350,000
79
87
Feb-19
Mar-19
63 Jan-19
MEDIAN DATA INVENTORY February
March
1,039
1,095 VARIANCE: 5 %
SALE PRICE PER SQFT. February
$
March
314
343 VARIANCE: 9 % $
SOLDS February
SALES PRICE March
79
87 VARIANCE: 10 % SALE TO LIST PRICE RATIO February
March
95.02%
93.51% VARIANCE: -2 %
February
$
1.35m
March
1.48m VARIANCE: 9 % $
DAYS ON MARKET February
March
92
82 VARIANCE: -11 %
SCOTTSDALE MARKET SUMMARY | MARCH 2019 • The Scottsdale single-family luxury market is a Buyer's Market with an 8% Sales Ratio. • Homes sold for a median of 93.51% of list price in March 2019. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 14%. • The median luxury sales price for single-family homes has increased to $1,475,000. • The median days on market for March 2019 was 82 days, down from 92 in February 2019.
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 | MARCH 2019 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 $750,000 - $799,999 $700,000 - $749,999
14
1
Total Sales: 46 Balanced Market
19
1
Total Sales Ratio2: 18%
15
1 10
1
15
1
21
2 13
3 11
2
$625,000 - $649,999 $600,000 - $624,999
Total Inventory: 259
6
1
$675,000 - $699,999 $650,000 - $674,999
29
8
13
3 9
2
$575,000 - $599,999
24
7
$550,000 - $574,999
23
6
$520,000 - $549,999
37
7
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$597,000
3
3
38
224
17%
3,000 - 3,999
$2,074,000
3
4
7
31
23%
4,000 - 4,999
$2,225,000
3
3
1
2
50%
5,000 - 5,999
NA
NA
NA
0
1
0%
6,000 - 6,999
NA
NA
NA
0
1
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
$650,000
Inventory
$712,500 $620,000
$593,000
$600,000
$609,950
$568,279
$624,500
Solds
$592,500
$618,000
$582,500
243 133
108
124
117
100
39
33
26
Mar-18
Apr-18
May-18
25
Jun-18
22 Jul-18
24
13
Aug-18
Sep-18
20
25
Nov-18
Dec-18
22 Oct-18
$632,500
253
259
161
140
137
126
115
$660,000
31
46
Feb-19
Mar-19
26
Jan-19
MEDIAN DATA INVENTORY February
March
253
259 VARIANCE: 2 %
SALE PRICE PER SQFT. February
March
353
318 VARIANCE: -10 %
$
$
SOLDS February
SALES PRICE March
31
46 VARIANCE: 48 % SALE TO LIST PRICE RATIO February
March
97.43%
97.91% VARIANCE: 0 %
February
660k
$
March
633k VARIANCE: -4 % $
DAYS ON MARKET February
March
62
51 VARIANCE: -18 %
SCOTTSDALE MARKET SUMMARY | MARCH 2019 • The Scottsdale attached luxury market is a Balanced Market with an 18% Sales Ratio. • Homes sold for a median of 97.91% of list price in March 2019. • The most active price band is $575,000-$599,999, where the sales ratio is 29%. • The median luxury sales price for attached homes has decreased to $632,500. • The median days on market for March 2019 was 51 days, down from 62 in February 2019.
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