The Lifestyle Collection Scottsdale Luxury Property Report for February 2020

Luxury Property Report Scottsdale Arizona February 2020

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

SCOTTSDALE

SINGLE- FAMILY HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2020 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

44

1 18

1

43

0

69

54

9

59

4

67

7

101

7

53

4

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

$1,000,000 - $1,099,999

69

9

71

4 38

13

$950,000 - $999,999

1

Total Sales Ratio2: 10%

45

4

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

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

Buyer's Market

51

4

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

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

Total Sales: 86

4

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

Total Inventory: 844

62

15

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$1,065,000

3

4

18

103

17%

3,500 - 4,499

$1,150,000

4

4

26

232

11%

4,500 - 5,499

$1,250,000

5

5

17

233

7%

5,500 - 6,499

$1,825,000

5

6

14

115

12%

6,500 - 7,499

$2,100,000

5

6

7

62

11%

7,500+

$3,075,000

6

7

4

99

4%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

SCOTTSDALE

SINGLE- FAMILY HOMES

4 13- MONTH LUXURY MARKET TREND Median Sales Price

$1,420,000

$1,350,000

1,095

1,039

989

63 Jan-19

$1,475,000

$1,391,250

980

79

87

Feb-19

Mar-19

$1,400,000

942

124

Apr-19

$1,350,000

Inventory

$1,365,320

790

133

May-19

$1,275,000

116

95

Jun-19

$1,445,000

Jul-19

$1,425,000

$1,200,000

856

847

748

696

694

Solds

71

68

Aug-19

Sep-19

$1,330,000

Oct-19

844

837

113

107

77

Nov-19

$1,310,000

Dec-19

86 Jan-20

MEDIAN DATA INVENTORY December

January

837

844 VARIANCE: 1 %

SALE PRICE PER SQFT. December

January

303 VARIANCE: -3 %

$

312

$

SOLDS December

January

113

86 VARIANCE: -24 % SALE TO LIST PRICE RATIO December

January

95.89% 95.65% VARIANCE: 0 %

SALES PRICE December

$

1.33m

January

1.31m VARIANCE: -2 % $

DAYS ON MARKET December

January

88

94 VARIANCE: 7 %

SCOTTSDALE MARKET SUMMARY | JANUARY 2020 • The Scottsdale single-family luxury market is a Buyer's Market with a 10% Sales Ratio.

• Homes sold for a median of 95.65% of list price in January 2020.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 34%.

• The median luxury sales price for single-family homes has decreased to $1,310,000.

• The median days on market for January 2020 was 94 days, up from 88 in December 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

SCOTTSDALE

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | JANUARY 2020 Inventory

Sales

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

8

1

14

14

1

$700,000 - $749,999

15

6

$675,000 - $699,999

17

4 6

1

18

0

$600,000 - $624,999

4

8 24

3

$550,000 - $574,999 $520,000 - $549,999

1

Total Sales Ratio2: 18%

10

0

$650,000 - $674,999

Balanced Market

17

3

$750,000 - $799,999

$575,000 - $599,999

Total Sales: 48

1

$850,000 - $899,999

$625,000 - $649,999

Total Inventory: 263

8

0

$900,000 - $999,999

$800,000 - $849,999

62

5

11

18

24

8

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$564,990

2

2

7

21

33%

1,500 - 1,999

$560,250

2

2

14

78

18%

2,000 - 2,499

$620,000

3

3

17

90

19%

2,500 - 2,999

$705,000

3

3

6

40

15%

3,000 - 3,499

$1,410,500

2

3

3

20

15%

3,500+

$1,275,000

3

4

1

14

7%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

SCOTTSDALE

ATTACHED HOMES

4 13- MONTH LUXURY MARKET TREND Sale Price

$582,500

243

26

Jan-19

$660,000

$632,500

253

259

$680,000

220

Inventory

Solds

$752,500 $625,000

$632,500

222

208

31

46

45

48

Feb-19

Mar-19

Apr-19

May-19

49

$640,000

$607,500

$605,000

187

194

204

35

Jun-19

Jul-19

32

31

Aug-19

Sep-19

$627,500

$620,000

226

234

52

Oct-19

$619,000

263

225

39

38

Nov-19

Dec-19

48

Jan-20

MEDIAN DATA INVENTORY December

January

225

263 VARIANCE: 17 %

SALE PRICE PER SQFT. December

January

313 VARIANCE: -11 %

$

352

$

SOLDS December

January

38

48 VARIANCE: 26 % SALE TO LIST PRICE RATIO December

January

96.97% 96.97% VARIANCE: 0 %

SALES PRICE December

753k

$

January

619k VARIANCE: -18 % $

DAYS ON MARKET December

January

57

85 VARIANCE: 49 %

SCOTTSDALE MARKET SUMMARY | JANUARY 2020 • The Scottsdale attached luxury market is a Balanced Market with an 18% Sales Ratio.

• Homes sold for a median of 96.97% of list price in January 2020.

• The most active price band is $550,000-$574,999, where the sales ratio is 61%.

• The median luxury sales price for attached homes has decreased to $619,000.

• The median days on market for January 2020 was 85 days, up from 57 in December 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3