Luxury Property Report Scottsdale Arizona December 2018
Presented by
The Lifestyle Collection www.LifestyleCollectionRe.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | NOVEMBER 2018 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,300,000 - $4,999,999
$2,700,000 - $3,199,999 $2,300,000 - $2,699,999
27
0
$3,700,000 - $4,299,999 $3,200,000 - $3,699,999
46
1
33
1
Buyer's Market Total Sales Ratio2: 8%
41
1
60
2
43
5
$1,800,000 - $1,999,999
82
6
$1,600,000 - $1,799,999
81
7
$1,400,000 - $1,599,999
109
6
59
3
$1,200,000 - $1,299,999
62
10
$1,100,000 - $1,199,999
69
9
$1,000,000 - $1,099,999 $950,000 - $999,999
Total Sales: 68 36
0
$2,000,000 - $2,299,999
$1,300,000 - $1,399,999
Total Inventory: 881
64
9
69
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$985,000
3
3
1
25
4%
3,000 - 3,999
$1,125,000
4
4
23
168
14%
4,000 - 4,999
$1,269,000
4
4
27
268
10%
5,000 - 5,999
$1,540,000
5
5
10
183
5%
6,000 - 6,999
$1,500,000
5
6
3
100
3%
7,000+
$2,350,000
6
8
4
137
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
$1,350,000
664
$1,304,750
$1,299,000
67
74
Nov-17
Dec-17
75 Jan-18
$1,312,500
821
786
732
659
$1,320,000
64 Feb-18
$1,300,000
$1,245,000
810
112 Mar-18
Inventory
117
Apr-18
$1,327,500
812
787
101
$1,292,500
May-18
Solds
743
130
Jun-18
$1,490,000 $1,252,500
82
66
Aug-18
Sep-18
80 Jul-18
$1,291,750
881
847
751
686
$1,430,000
84
68
Oct-18
Nov-18
MEDIAN DATA INVENTORY October
November
847
881 VARIANCE: 4 %
SALE PRICE PER SQFT. October
$
November
307
300 VARIANCE: -2 % $
SOLDS October
November
84
68 VARIANCE: -19 % SALE TO LIST PRICE RATIO October
SALES PRICE
November
96.32% 95.92% VARIANCE: 0 %
October
1.43m
$
November
1.29m VARIANCE: -10 % $
DAYS ON MARKET October
November
120
69 VARIANCE: -43 %
SCOTTSDALE MARKET SUMMARY | NOVEMBER 2018 • The Scottsdale single-family luxury market is a Buyer's Market with an 8% Sales Ratio. • Homes sold for a median of 95.92% of list price in November 2018. • The most active price band is $1,200,000-$1,299,999, where the sales ratio is 16%. • The median luxury sales price for single-family homes has decreased to $1,291,750. • The median days on market for November 2018 was 69 days, down from 120 in October 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 | NOVEMBER 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
12
0 3
1
5
0
13
7
0
9
1
$675,000 - $699,999
$600,000 - $624,999
8
2 5
0
8
1 5
1
$575,000 - $599,999 $550,000 - $574,999
Total Sales Ratio2: 14%
10
1
$700,000 - $749,999
$625,000 - $649,999
Buyer's Market
3
$800,000 - $849,999
$650,000 - $674,999
Total Sales: 20 6
0
$850,000 - $899,999
$750,000 - $799,999
Total Inventory: 140
17
3 13
2
$520,000 - $549,999
19
5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$577,500
3
3
18
113
16%
3,000 - 3,999
$855,000
4
4
2
25
8%
4,000 - 4,999
NA
NA
NA
0
0
NA
5,000 - 5,999
NA
NA
NA
0
2
0%
6,000 - 6,999
NA
NA
NA
0
0
NA
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
$624,995
116
$636,000
104
18
26
Nov-17
Dec-17
$625,000
$644,000
$650,000
128
137
133
22 Jan-18
26
Feb-18
39
Mar-18
Inventory
Solds
$712,500 $620,000
$593,000
108
100
33
26
Apr-18
May-18
$600,000
$609,950
117
124
25 Jun-18
$568,279
126
115
24
22 Jul-18
$624,500
$592,500
137
140
22
13
Aug-18
Sep-18
20
Oct-18
Nov-18
MEDIAN DATA INVENTORY October
November
137
140 VARIANCE: 2 %
SALE PRICE PER SQFT. October
November
282
$
273 VARIANCE: -3 % $
SOLDS October
November
22
20 VARIANCE: -9 % SALE TO LIST PRICE RATIO October
November
97.47% 97.63% VARIANCE: 0 %
SALES PRICE October
November
625k
$
$
593k VARIANCE: -5 %
DAYS ON MARKET October
November
73
33 VARIANCE: -55 %
SCOTTSDALE MARKET SUMMARY | NOVEMBER 2018 • The Scottsdale attached luxury market is a Buyer's Market with a 14% Sales Ratio. • Homes sold for a median of 97.63% of list price in November 2018. • The most active price band is $1,125,000-$1,249,999, where the sales ratio is 33%. • The median luxury sales price for attached homes has decreased to $592,500. • The median days on market for November 2018 was 33 days, down from 73 in October 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