Scottsdale Luxury Property Report - July 2019

Luxury Property Report Scottsdale Arizona July 2019

The Lifestyle Collection www.TheLifestyleCollection.com 602-603-0708

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JUNE 2019 Inventory

Sales

Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,300,000 - $4,999,999

20

1

$3,700,000 - $4,299,999

3

$3,200,000 - $3,699,999

$2,700,000 - $3,199,999

41

2

4

Total Sales Ratio2: 15%

53

5

60

4

78

12

107

14

42

7

$1,200,000 - $1,299,999

65

12 46

9 35

15

$950,000 - $999,999

1

Balanced Market

63

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

$1,000,000 - $1,099,999

34

9

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

$1,100,000 - $1,199,999

Total Sales: 116

1

$2,000,000 - $2,299,999

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

34

43

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

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

Total Inventory: 790

69

18

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$1,014,084

3

4

13

84

15%

3,500 - 4,499

$1,159,500

4

4

48

212

23%

4,500 - 5,499

$1,535,000

4

5

27

208

13%

5,500 - 6,499

$2,350,000

4

6

15

121

12%

6,500 - 7,499

$2,651,006

5

6

6

70

9%

7,500+

$4,200,000

5

7

7

95

7%

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

$1,292,500

812

$1,490,000

$1,327,500

$1,252,500

743

130

Jun-18

82

66

Aug-18

Sep-18

80 Jul-18

$1,291,750

881

847

751

686

$1,430,000

84

Oct-18

Inventory

$1,250,000

$1,420,000

68

72

Nov-18

Dec-18

$1,350,000

$1,391,250

980

79

87

Feb-19

Mar-19

63 Jan-19

$1,475,000

1,095

1,039

989

869

Solds

$1,400,000

942

790

133

124

Apr-19

$1,350,000

May-19

116

Jun-19

MEDIAN DATA INVENTORY May

June

942

SOLDS May

SALES PRICE June

790 VARIANCE: -16 %

116 VARIANCE: -13 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

May

$

June

313

313 VARIANCE: 0 % $

133

May

June

96.15%

96.14% VARIANCE: 0 %

May

1.40m

$

June

1.35m VARIANCE: -4 % $

DAYS ON MARKET May

June

96

108 VARIANCE: 13 %

SCOTTSDALE MARKET SUMMARY | JUNE 2019 • The Scottsdale single-family luxury market is a Balanced Market with a 15% Sales Ratio.

• Homes sold for a median of 96.14% of list price in June 2019.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 43%.

• The median luxury sales price for single-family homes has decreased to $1,350,000.

• The median days on market for June 2019 was 108 days, up from 96 in May 2019.

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 | JUNE 2019 Inventory

Sales

Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999

7

1

$900,000 - $999,999

Total Sales: 49

5

1

7

0

$700,000 - $749,999

9

4

$675,000 - $699,999

11

3

$650,000 - $674,999

6

3

$625,000 - $649,999

$575,000 - $599,999

11

4 6

1

14

2

$550,000 - $574,999

23

8

$520,000 - $549,999

1

Total Sales Ratio2: 24%

12

5

$800,000 - $849,999

Seller's Market

15

2

$850,000 - $899,999

$600,000 - $624,999

Total Inventory: 208

1 1

$1,000,000 - $1,124,999

$750,000 - $799,999

54

4

27

10

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$550,000

2

2

1

15

7%

1,500 - 1,999

$551,980

2

2

16

62

26%

2,000 - 2,499

$660,000

3

3

16

62

26%

2,500 - 2,999

$1,035,000

3

3

6

38

16%

3,000 - 3,499

$895,000

3

4

10

21

48%

3,500+

NA

NA

NA

0

10

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

$712,500

$600,000

$609,950

$568,279

$624,500

Inventory

$592,500

$618,000

$582,500

243 124

117 25

Jun-18

115 24

13

Aug-18

Sep-18

22 Jul-18

22 Oct-18

$660,000

$632,500

253

259

$680,000

220

$625,000

$632,500

222

208

161

140

137

126

Solds

20

25

Nov-18

Dec-18

31

46

Feb-19

Mar-19

26

Jan-19

Apr-19

49

48

45

May-19

Jun-19

MEDIAN DATA INVENTORY May

June

222

208 VARIANCE: -6 %

SALE PRICE PER SQFT. May

$

June

300

313 VARIANCE: 4 % $

SOLDS May

SALES PRICE June

48

49 VARIANCE: 2 %

SALE TO LIST PRICE RATIO May

June

97.85% 97.00% VARIANCE: -1 %

May

$

625k

June

633k VARIANCE: 1 % $

DAYS ON MARKET May

83

74 VARIANCE: -11 %

SCOTTSDALE MARKET SUMMARY | JUNE 2019 • The Scottsdale attached luxury market is a Seller's Market with a 24% Sales Ratio.

• Homes sold for a median of 97.00% of list price in June 2019.

• The most active price band is $1,000,000-$1,124,999, where the sales ratio is 100%.

• The median luxury sales price for attached homes has increased to $632,500.

• The median days on market for June 2019 was 74 days, down from 83 in May 2019.

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

June