SC O T T S D A L E ARI ZO N A –April 2018–
Presented by The Lifestyle Collection at Keller Williams Luxury www.LifestyleCollectionRE.com 602-603-0708 Jordan@lifestylecollectionre.com
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | MARCH 2018 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $4,950,000+ $4,350,000 - $4,949,999 $3,850,000 - $4,349,999 $3,350,000 - $3,849,999
$2,950,000 - $3,349,999 $2,550,000 - $2,949,999
107
4 33
1
50
1
5
94
106
12
131
10 114
8
137
12
143
18
$1,250,000 - $1,349,999
90
18
$1,150,000 - $1,249,999
$950,000 - $1,049,999
Total Sales Ratio2: 10%
7
$1,350,000 - $1,549,999
$1,050,000 - $1,149,999
Buyer's Market 69
$1,950,000 - $2,249,999
$1,550,000 - $1,749,999
Total Sales: 152 61
1
$2,250,000 - $2,549,999
$1,750,000 - $1,949,999
Total Inventory: 1,473
115
21 86
13
137
21
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$2,015,000
4
3
4
39
10%
3,000 - 3,999
$1,150,000
4
4
37
239
15%
4,000 - 4,999
$1,325,000
4
5
51
410
12%
5,000 - 5,999
$1,676,250
5
5
26
301
9%
6,000 - 6,999
$1,950,000
5
6
21
193
11%
7,000+
$3,000,000
5
7
13
291
4%
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
$1,500,000
$1,474,500
$1,400,000
1,024
993
109
Mar-17
1,018
124
114 Apr-17
May-17
$1,350,000
$1,400,000
$1,450,000
1,005
1,004
1,063
138 Jun-17
94
Jul-17
Inventory
$1,340,000
Solds
$1,450,000 $1,280,000
1,329
1,217
$1,350,000
1,292
$1,430,000
$1,408,000
$1,375,000
1,433
1,468
1,473
912
91
79
Aug-17
Sep-17
97
95
Nov-17
Dec-17
78
Oct-17
103 Jan-18
152
89 Feb-18
Mar-18
MEDIAN DATA INVENTORY February
March
1,468
1,473 VARIANCE: 0 %
SALE PRICE PER SQFT. February
$
March
316
315 VARIANCE: 0 % $
SOLDS February
SALES PRICE March
89
152 VARIANCE: 71 % SALE TO LIST PRICE RATIO February
March
94.34% 94.98% VARIANCE: 1 %
February
$
1.41m
March
1.38m VARIANCE: -2 % $
DAYS ON MARKET February
March
93
124 VARIANCE: 33 %
SCOTTSDALE MARKET SUMMARY | MARCH 2018 • The Scottsdale single-family luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 94.98% of list price in March 2018. • The most active price band is $1,250,000-$1,349,999, where the sales ratio is 20%. • The median luxury sales price for single-family homes has decreased to $1,375,000. • The median days on market for March 2018 was 124 days, up from 93 in February 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 | MARCH 2018 Inventory
Sales
Luxury Benchmark Price 1: $500,000 $1,000,000+ $950,000 - $999,999 $900,000 - $949,999
30
4 4
1
Total Inventory: 176
4
0
$850,000 - $899,999
Total Sales: 41
$800,000 - $849,999
15
2
$700,000 - $749,999
7
3
$650,000 - $699,999
17
6
$600,000 - $649,999
15
3
$550,000 - $599,999
$500,000 - $509,999
6
2
8
0
$520,000 - $529,999 $510,000 - $519,999
29
13
$540,000 - $549,999 $530,000 - $539,999
Total Sales Ratio2: 23%
10
2
$750,000 - $799,999
Seller's Market
13
4
8
1 6
0 0
4
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,999
$590,000
2
2
9
38
24%
2,000 - 2,499
$608,750
3
3
12
67
18%
2,500 - 2,999
$635,000
3
3
9
28
32%
3,000 - 3,499
$735,000
3
3
9
28
32%
3,500 - 3,999
$1,370,000
3
5
1
8
13%
4,000+
$6,175,000
6
8
1
7
14%
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
$599,250
118
$587,500
$575,000
101
$575,000
98
92
24
28
26
Mar-17
Apr-17
May-17
$574,326
Jun-17
$650,000
$599,990
20
Jul-17
13
21
Aug-17
Sep-17
Solds
$690,000 $580,000
169
160
133
108
97 15
Inventory
169
24
30
Nov-17
Dec-17
21 Oct-17
$640,000
$615,000
$598,000
196
187
176
29
41
Feb-18
Mar-18
23 Jan-18
$651,500
MEDIAN DATA INVENTORY February
March
187
SOLDS February
SALES PRICE March
176 VARIANCE: -6 %
41 VARIANCE: 41 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
February
March
274
$
287 VARIANCE: 5 % $
29
February
March
96.97% 97.50% VARIANCE: 1 %
February
$
598k
March
652k VARIANCE: 9 % $
DAYS ON MARKET February
March
86
85 VARIANCE: -1 %
SCOTTSDALE MARKET SUMMARY | MARCH 2018 • The Scottsdale attached luxury market is a Seller's Market with a 23% Sales Ratio. • Homes sold for a median of 97.50% of list price in March 2018. • The most active price band is $550,000-$599,999, where the sales ratio is 45%. • The median luxury sales price for attached homes has increased to $651,500. • The median days on market for March 2018 was 85 days, down from 86 in February 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