SC O T T S D A L E ARI ZO N A –August 2018–
Presented by: The Lifestyle Collection at Keller Williams Luxury www.LifestyleCollectionRE.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JULY 2018 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
30
0 14
0
23
0
$2,000,000 - $2,299,999 $1,800,000 - $1,999,999
$1,600,000 - $1,799,999
4
60
3
40
4
73
4
83
7
88
13
49
7
55
9 46
7
$1,000,000 - $1,099,999 $950,000 - $999,999
Total Sales Ratio2: 11%
40
$1,200,000 - $1,299,999
$1,100,000 - $1,199,999
Buyer's Market
30
$1,400,000 - $1,599,999 $1,300,000 - $1,399,999
Total Sales: 80
1
$2,700,000 - $3,199,999 $2,300,000 - $2,699,999
Total Inventory: 743
55
13
57
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$960,000
3
3
3
21
14%
3,000 - 3,999
$1,076,200
4
4
21
116
18%
4,000 - 4,999
$1,255,825
4
5
26
242
11%
5,000 - 5,999
$1,560,000
4
5
16
156
10%
6,000 - 6,999
$1,600,000
5
6
10
98
10%
7,000+
$2,161,500
5
6
4
110
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
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SCOTTSDALE
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,300,000
463
$1,287,500
Jul-17
70
61
Aug-17
Sep-17
$1,304,750
$1,299,000
$1,320,000
Solds
$1,312,500
$1,156,000
664
614
505
449 63
$1,350,000 $1,180,000
Inventory
50 Oct-17
67
74
Nov-17
Dec-17
821
786
732
659
75 Jan-18
Feb-18
810
112
64
$1,300,000
$1,245,000
Mar-18
$1,292,500
812
787
Apr-18
May-18
743
130
117
101
$1,327,500
Jun-18
80 Jul-18
MEDIAN DATA INVENTORY June
July
812
SOLDS June
SALES PRICE July
743 VARIANCE: -8 %
80 VARIANCE: -38 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
June
$
July
296
307 VARIANCE: 4 % $
130
June
July
95.58% 94.46% VARIANCE: -1 %
June
1.29m
$
July
1.33m VARIANCE: 3 % $
DAYS ON MARKET June
July
110
133 VARIANCE: 21 %
SCOTTSDALE MARKET SUMMARY | JULY 2018 • The Scottsdale single-family luxury market is a Buyer's Market with an 11% Sales Ratio. • Homes sold for a median of 94.46% of list price in July 2018. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 24%. • The median luxury sales price for single-family homes has increased to $1,327,500. • The median days on market for July 2018 was 133 days, up from 110 in June 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
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SCOTTSDALE
ATTACHED HOMES
LUXURY INVENTORY VS. SALES | JULY 2018 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999
$600,000 - $624,999
Total Sales Ratio2: 18%
14 6
1
7
0 6
2
8
1 1
2
7
1 1
2
$575,000 - $599,999 $550,000 - $574,999
Balanced Market
1
$700,000 - $749,999
$625,000 - $649,999
Total Sales: 22 3
1
$800,000 - $849,999
$650,000 - $674,999
Total Inventory: 124
2
0
$850,000 - $899,999
$675,000 - $699,999
5
1
$900,000 - $999,999
$750,000 - $799,999
13
1
13
3
13
1
$520,000 - $549,999
24
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$584,500
3
3
18
95
19%
3,000 - 3,999
$840,000
3
3
3
24
13%
4,000 - 4,999
NA
NA
NA
0
2
0%
5,000 - 5,999
$1,620,000
5
5
1
2
50%
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
www.LifestyleCollectionRe.com
SCOTTSDALE
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$647,678
$662,500
$599,990
73
71 16
Jul-17
$730,750
$624,995
116
108
91
11
18
Aug-17
Sep-17
Inventory
16
Oct-17
$636,000
104
18
26
Nov-17
Dec-17
Solds
$625,000
$644,000
$650,000
128
137
133
22 Jan-18
39
26 Feb-18
Mar-18
$620,000
$593,000
108
100
33
$600,000
$609,950
117
124
26
Apr-18
May-18
25
22
Jun-18
Jul-18
MEDIAN DATA INVENTORY June
July
117
SOLDS June
SALES PRICE July
124 VARIANCE: 6 %
22 VARIANCE: -12 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
June
$
July
285
268 VARIANCE: -6 % $
25
June
July
97.00% 97.94% VARIANCE: 1 %
June
600k
$
July
610k VARIANCE: 2 % $
DAYS ON MARKET June
63
84 VARIANCE: 33 %
SCOTTSDALE MARKET SUMMARY | JULY 2018 • The Scottsdale attached luxury market is a Balanced Market with an 18% Sales Ratio. • Homes sold for a median of 97.94% of list price in July 2018. • The most active price band is $600,000-$624,999, where the sales ratio is 200%. • The median luxury sales price for attached homes has increased to $609,950. • The median days on market for July 2018 was 84 days, up from 63 in June 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
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July