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