Scottsdale Arizona May 2018 Luxury Property Report

SC O T T S D A L E ARI ZO N A –May 2018–

Presented by:

The Lifestyle Collection

at Keller Williams Luxury Property www.LifestyleCollectionRe.com 602-603-0708

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | APRIL 2018 Inventory

Sales

Luxury Benchmark Price 1: $950,000 $4,950,000+

103

2

$4,350,000 - $4,949,999 $3,850,000 - $4,349,999

$2,550,000 - $2,949,999 $2,250,000 - $2,549,999 $1,950,000 - $2,249,999

$1,750,000 - $1,949,999 $1,550,000 - $1,749,999 $1,350,000 - $1,549,999 $1,250,000 - $1,349,999

$1,150,000 - $1,249,999 $1,050,000 - $1,149,999 $950,000 - $1,049,999

Total Inventory: 1,394 47

2

$3,350,000 - $3,849,999

$2,950,000 - $3,349,999

28

7

Total Sales: 136 Buyer's Market

60

7

Total Sales Ratio2: 10%

70

4

85

7

111

7

123

7 111

7

144

11

147

10 89

11

89

17 79

18

108

19

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,150,750

3

3

2

35

6%

3,000 - 3,999

$1,090,000

4

4

29

226

13%

4,000 - 4,999

$1,245,000

4

4

45

387

12%

5,000 - 5,999

$1,395,000

4

5

19

289

7%

6,000 - 6,999

$2,393,750

5

6

20

186

11%

7,000+

$3,500,000

5

7

21

271

8%

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

$1,400,000

1,024

$1,474,500

1,018

114 Apr-17

$1,350,000

$1,400,000

$1,450,000

1,005

1,004

1,063

138

124 May-17

Jun-17

94

Jul-17

$1,340,000

Inventory

$1,450,000 $1,280,000

1,329

1,217

Solds

$1,350,000

1,292

$1,430,000

$1,408,000

$1,375,000

$1,390,000

1,433

1,468

1,473

1,394

912

91

79

Aug-17

Sep-17

78

Oct-17

97

95

Nov-17

Dec-17

103

152

89

Jan-18

Feb-18

Mar-18

136 Apr-18

MEDIAN DATA INVENTORY March

April

1,473

1,394 VARIANCE: -5 %

SALE PRICE PER SQFT. March

April

308 VARIANCE: -2 %

$

315

$

SOLDS March

SALES PRICE April

152

136 VARIANCE: -11 % SALE TO LIST PRICE RATIO March

April

94.98% 95.83% VARIANCE: 1 %

March

1.38m

$

April

1.39m VARIANCE: 1 % $

DAYS ON MARKET March

April

124

111 VARIANCE: -10 %

SCOTTSDALE MARKET SUMMARY | APRIL 2018 • The Scottsdale single-family luxury market is a Buyer's Market with a 10% Sales Ratio.

• Homes sold for a median of 95.83% of list price in April 2018.

• The most active price band is $4,350,000-$4,949,999, where the sales ratio is 25%.

• The median luxury sales price for single-family homes has increased to $1,390,000.

• The median days on market for April 2018 was 111 days, down from 124 in March 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 | APRIL 2018 Inventory

Sales

Luxury Benchmark Price 1: $500,000 $1,000,000+ $950,000 - $999,999

4

0

$800,000 - $849,999 $750,000 - $799,999

Total Inventory: 159

2 2

$900,000 - $949,999 $850,000 - $899,999

26

4

Total Sales: 41

1 1

11

Seller's Market

11

Total Sales Ratio2: 26%

8

1

$700,000 - $749,999

10

4

$650,000 - $699,999

14

4

$600,000 - $649,999

11

2

$550,000 - $599,999 $540,000 - $549,999 $530,000 - $539,999

$520,000 - $529,999

6

1

6

1

12

1

$510,000 - $519,999 $500,000 - $509,999

32

13

3

1

5

3

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$560,000

2

2

10

37

27%

2,000 - 2,499

$627,500

3

3

14

63

22%

2,500 - 2,999

$584,500

3

4

12

25

48%

3,000 - 3,499

$987,500

3

4

2

21

10%

3,500 - 3,999

$1,161,500

3

4

2

6

33%

4,000+

$2,175,000

5

7

1

7

14%

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

$587,500

101

$575,000

$575,000

98

92 28

26

Apr-17

May-17

$574,326

Jun-17

20

Jul-17

$650,000

$690,000 $580,000

169

160

133

108

97 15

$599,990

Inventory

13

21

Aug-17

Sep-17

21 Oct-17

Solds

$640,000

169

24

30

Nov-17

Dec-17

$615,000

$598,000

196

187

23 Jan-18

$651,500

$595,000

176

159

29

41

41

Feb-18

Mar-18

Apr-18

MEDIAN DATA INVENTORY March

April

176

159 VARIANCE: -10 % SALE PRICE PER SQFT. March

$

April

287

273 VARIANCE: -5 % $

SOLDS March

SALES PRICE April

41

41 VARIANCE: 0 %

SALE TO LIST PRICE RATIO March

April

97.50% 97.75% VARIANCE: 0 %

March

652k

$

April

595k VARIANCE: -9 % $

DAYS ON MARKET March

85

55 VARIANCE: -35 %

SCOTTSDALE MARKET SUMMARY | APRIL 2018 • The Scottsdale attached luxury market is a Seller's Market with a 26% Sales Ratio.

• Homes sold for a median of 97.75% of list price in April 2018.

• The most active price band is $500,000-$509,999, where the sales ratio is 300%.

• The median luxury sales price for attached homes has decreased to $595,000.

• The median days on market for April 2018 was 55 days, down from 85 in March 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

April