Luxury Property Report Scottsdale Arizona March 2019
Presented by
The Lifestyle Collection www.TheLifestyleCollection.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | FEBRUARY 2019 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
$2,000,000 - $2,299,999 $1,800,000 - $1,999,999
$1,300,000 - $1,399,999 $1,200,000 - $1,299,999
Buyer's Market
44
Total Sales Ratio2: 8%
49
5
77
1
55
5
85
6
113
8
129
6
58
6
71
7
$1,100,000 - $1,199,999
74
13
$1,000,000 - $1,099,999 $950,000 - $999,999
Total Sales: 79
2
$1,600,000 - $1,799,999 $1,400,000 - $1,599,999
Total Inventory: 1,039
31
1
$2,700,000 - $3,199,999 $2,300,000 - $2,699,999
54
3
71
9
98
7
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$985,000
3
3
3
32
9%
3,000 - 3,999
$1,151,000
4
4
18
210
9%
4,000 - 4,999
$1,287,500
4
4
27
312
9%
5,000 - 5,999
$1,750,000
5
5
15
215
7%
6,000 - 6,999
$1,762,500
5
6
10
114
9%
7,000+
$4,560,000
7
8
6
156
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
$1,320,000
$1,312,500
821
786
64 Feb-18
$1,245,000
810
112
Apr-18
$1,292,500
812
787
101
Mar-18
$1,300,000
117 May-18
$1,490,000
$1,327,500
$1,252,500
743
130 Jun-18
Inventory
80 Jul-18
$1,430,000
82
66
Aug-18
Sep-18
$1,291,750
$1,250,000
881
847
751
686
Solds
84 Oct-18
$1,420,000
$1,350,000
1,039
989
869
68
72
Nov-18
Dec-18
79
63 Jan-19
Feb-19
MEDIAN DATA INVENTORY January
February
989
1,039 VARIANCE: 5 %
SALE PRICE PER SQFT. January
February
333
314 VARIANCE: -6 %
$
$
SOLDS January
February
63
79 VARIANCE: 25 % SALE TO LIST PRICE RATIO January
SALES PRICE
February
96.19% 95.02% VARIANCE: -1 %
January
1.42m
$
February
1.35m VARIANCE: -5 % $
DAYS ON MARKET January
February
72
92 VARIANCE: 28 %
SCOTTSDALE MARKET SUMMARY | FEBRUARY 2019 • The Scottsdale single-family luxury market is a Buyer's Market with an 8% Sales Ratio. • Homes sold for a median of 95.02% of list price in February 2019. • The most active price band is $1,100,000-$1,199,999, where the sales ratio is 18%. • The median luxury sales price for single-family homes has decreased to $1,350,000. • The median days on market for February 2019 was 92 days, up from 72 in January 2019.
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 | FEBRUARY 2019 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999
33
2 16
0
5
0
$900,000 - $999,999
13
$750,000 - $799,999
18
3
$700,000 - $749,999
20
3 11
2
$650,000 - $674,999
11
5
$625,000 - $649,999
14
1 12
0
19
1
$550,000 - $574,999 $520,000 - $549,999
Total Sales Ratio2: 12%
13
1
$675,000 - $699,999
Buyer's Market
19
1
$800,000 - $849,999
$575,000 - $599,999
Total Sales: 31
2
$850,000 - $899,999
$600,000 - $624,999
Total Inventory: 253
21
6
28
4
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$660,000
2
2
29
214
14%
3,000 - 3,999
$1,415,000
3
4
2
36
6%
4,000 - 4,999
NA
NA
NA
0
1
0%
5,000 - 5,999
NA
NA
NA
0
1
0%
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
SCOTTSDALE
ATTACHED HOMES
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$644,000
Inventory
$712,500
$650,000
$620,000
$593,000
$600,000
$609,950
$568,279
Solds
$624,500
$618,000
$592,500
$660,000
$582,500
253
243 137
133
108
124
117
100
26
39
33
26
Feb-18
Mar-18
Apr-18
May-18
25
Jun-18
22 Jul-18
24
13
Aug-18
Sep-18
161
140
137
126
115
20
25
Nov-18
Dec-18
22 Oct-18
31
26
Jan-19
Feb-19
MEDIAN DATA INVENTORY January
February
243
253 VARIANCE: 4 %
SALE PRICE PER SQFT. January
February
353 VARIANCE: 28 %
$
275
$
SOLDS January
February
26
31 VARIANCE: 19 % SALE TO LIST PRICE RATIO January
February
97.39% 97.43% VARIANCE: 0 %
SALES PRICE January
583k
$
February
660k VARIANCE: 13 % $
DAYS ON MARKET January
February
55
62 VARIANCE: 13 %
SCOTTSDALE MARKET SUMMARY | FEBRUARY 2019 • The Scottsdale attached luxury market is a Buyer's Market with a 12% Sales Ratio. • Homes sold for a median of 97.43% of list price in February 2019. • The most active price band is $650,000-$674,999, where the sales ratio is 45%. • The median luxury sales price for attached homes has increased to $660,000. • The median days on market for February 2019 was 62 days, up from 55 in January 2019.
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