Scottsdale Luxury Market Report - April 2018

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