Scottsdale Luxury Property Report - September 2018

Luxury Property Report Scottsdale Arizona September 2018

Presented by

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

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | AUGUST 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

$2,700,000 - $3,199,999 $2,300,000 - $2,699,999

29

0 15

0

21

1

47

49

9

65

3

69

4

79

8

44

3

59

9

$1,100,000 - $1,199,999 $1,000,000 - $1,099,999 $950,000 - $999,999

Total Sales Ratio2: 12%

34

3

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

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

Buyer's Market

3

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

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

Total Sales: 82 23

2

$2,000,000 - $2,299,999 $1,800,000 - $1,999,999

Total Inventory: 686

50

16

50

11

52

10

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,060,000

4

4

1

21

5%

3,000 - 3,999

$1,092,500

4

4

18

118

15%

4,000 - 4,999

$1,145,000

4

5

33

213

15%

5,000 - 5,999

$1,500,000

5

5

15

147

10%

6,000 - 6,999

$2,050,000

4

6

9

86

10%

7,000+

$2,776,500

5

7

6

101

6%

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

$1,287,500

$1,350,000 $1,180,000

664

614

505

449 70

61

Aug-17

Sep-17

$1,304,750

$1,156,000

50 Oct-17

$1,299,000

67

74

Nov-17

Dec-17

$1,320,000

75 Jan-18

$1,312,500

64 Feb-18

Solds

$1,245,000

821

786

732

659

Inventory

810

112 Mar-18

$1,300,000

$1,292,500

812

787

101

Apr-18

$1,327,500

743

130

117

May-18

$1,252,500

Jun-18

686

82

80 Jul-18

Aug-18

MEDIAN DATA INVENTORY July

August

July

686 VARIANCE: -8 %

80

743

SALE PRICE PER SQFT. July

August

307

$

$

SOLDS

288 VARIANCE: -6 %

SALES PRICE August

82 VARIANCE: 3 %

SALE TO LIST PRICE RATIO July

August

94.46% 94.96% VARIANCE: 1 %

July

1.33m

$

August

1.25m VARIANCE: -6 % $

DAYS ON MARKET July

August

133

146 VARIANCE: 10 %

SCOTTSDALE MARKET SUMMARY | AUGUST 2018 • The Scottsdale single-family luxury market is a Buyer's Market with a 12% Sales Ratio.

• Homes sold for a median of 94.96% of list price in August 2018.

• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 32%.

• The median luxury sales price for single-family homes has decreased to $1,252,500.

• The median days on market for August 2018 was 146 days, up from 133 in July 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 | AUGUST 2018 Inventory

Sales

Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999

6

1

1

$850,000 - $899,999

5

11

3

3

4 5

0 3

1

$625,000 - $649,999

Total Sales Ratio2: 21%

14

0

$650,000 - $674,999

$575,000 - $599,999

Seller's Market

2

$700,000 - $749,999

$600,000 - $624,999

Total Sales: 24

2

$750,000 - $799,999

$675,000 - $699,999

Total Inventory: 115

3

0

$900,000 - $999,999

$800,000 - $849,999

10

2

5

1 3

0

14

0

$550,000 - $574,999

10

5

$520,000 - $549,999

21

4

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$653,000

3

3

19

89

21%

3,000 - 3,999

$710,000

4

4

3

22

14%

4,000 - 4,999

$1,140,000

4

4

2

2

100%

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

$599,990

$730,750

$662,500

$624,995

73

116

108

91

11

18

Aug-17

Sep-17

16

Oct-17

$636,000

104

18

26

Nov-17

Dec-17

Inventory

$625,000

$644,000

$650,000

128

137

133

22 Jan-18

26 Feb-18

Solds

$712,500

$620,000

$593,000

108

100

39

33

26

Mar-18

Apr-18

May-18

$600,000

$609,950

117

124

25 Jun-18

115

24

22 Jul-18

Aug-18

MEDIAN DATA INVENTORY July

August

124

115 VARIANCE: -7 %

SALE PRICE PER SQFT. July

August

268

$

293 VARIANCE: 9 % $

SOLDS July

SALES PRICE August

22

24 VARIANCE: 9 %

SALE TO LIST PRICE RATIO July

August

97.94% 97.61% VARIANCE: 0 %

July

610k

$

August

713k VARIANCE: 17 % $

DAYS ON MARKET July

August

84

84 VARIANCE: 0 %

SCOTTSDALE MARKET SUMMARY | AUGUST 2018 • The Scottsdale attached luxury market is a Seller's Market with a 21% Sales Ratio.

• Homes sold for a median of 97.61% of list price in August 2018.

• The most active price band is $900,000-$999,999, where the sales ratio is 200%.

• The median luxury sales price for attached homes has increased to $712,500.

• The median days on market for August 2018 was 84 days, remaining the same from July 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