Luxury Property Report Scottsdale Arizona October 2019
The Lifestyle Collection www.TheLifestyleCollection.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | SEPTEMBER 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
$2,700,000 - $3,199,999 $2,300,000 - $2,699,999
33
0 21
0
33
0
$1,600,000 - $1,799,999
1
58
50
4
56
3
78
4
101
7
57
6 51
9
$1,100,000 - $1,199,999
59
11 30
8
$950,000 - $999,999
1
Total Sales Ratio2: 9%
1
$1,200,000 - $1,299,999
$1,000,000 - $1,099,999
Buyer's Market 39
$1,400,000 - $1,599,999 $1,300,000 - $1,399,999
Total Sales: 68 37
0
$2,000,000 - $2,299,999 $1,800,000 - $1,999,999
Total Inventory: 748
45
14
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,499
$1,000,000
4
4
13
88
15%
3,500 - 4,499
$1,182,500
4
4
30
203
15%
4,500 - 5,499
$1,167,500
5
5
16
201
8%
5,500 - 6,499
$1,727,000
5
5
7
110
6%
6,500 - 7,499
$1,850,000
5
7
2
62
3%
7,500+
NA
NA
NA
0
84
0%
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
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
$1,490,000
$1,430,000
881
847
751
66
Sep-18
$1,291,750
84
Oct-18
$1,250,000
$1,420,000
68
72
Nov-18
Dec-18
63 Jan-19
$1,475,000
1,095
1,039
989
869
$1,350,000
Inventory
$1,391,250
$1,400,000
980
79
87
Feb-19
Mar-19
Solds
942
Apr-19
790
133
124
$1,365,320
$1,350,000
May-19
95
Jun-19
Jul-19
$1,200,000
748
696
694 116
$1,275,000
71
68
Aug-19
Sep-19
MEDIAN DATA INVENTORY August
September
696
748 VARIANCE: 7 %
SALE PRICE PER SQFT. August
September
304
$
299 VARIANCE: -2 % $
SOLDS August
September
71
68 VARIANCE: -4 % SALE TO LIST PRICE RATIO August
SALES PRICE
September
95.81% 96.36% VARIANCE: 1 %
August
1.28m
$
September
1.20m VARIANCE: -6 % $
DAYS ON MARKET August
September
101
103 VARIANCE: 2 %
SCOTTSDALE MARKET SUMMARY | SEPTEMBER 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 96.36% of list price in September 2019. • The most active price band is $950,000-$999,999, where the sales ratio is 31%. • The median luxury sales price for single-family homes has decreased to $1,200,000. • The median days on market for September 2019 was 103 days, up from 101 in August 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 | SEPTEMBER 2019 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999 $900,000 - $999,999
$850,000 - $899,999
8
1
0
Balanced Market
12
Total Sales Ratio2: 15%
16
2 8
0
11
2
$650,000 - $674,999
6
3
12
1
$600,000 - $624,999
7
3
15
1
$550,000 - $574,999
6
$520,000 - $549,999
1
12
8
3
$675,000 - $699,999
$575,000 - $599,999
Total Sales: 31
0
$750,000 - $799,999
$625,000 - $649,999
Total Inventory: 204
5
0
$800,000 - $849,999
$700,000 - $749,999
40
3
9
35
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$525,000
2
2
1
23
4%
1,500 - 1,999
$580,000
3
2
10
49
20%
2,000 - 2,499
$650,000
3
3
11
74
15%
2,500 - 2,999
$680,000
3
3
9
32
28%
3,000 - 3,499
NA
NA
NA
0
17
0%
3,500+
NA
NA
NA
0
9
0%
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
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$568,279
$624,500
$592,500
$618,000
$582,500
243
13
Sep-18
20
25
Nov-18
Dec-18
22 Oct-18
$660,000
$632,500
253
259
$680,000
220
Solds
$625,000
$632,500
222
208
161
140
137
126
Inventory
26
Jan-19
31
46
45
48
Feb-19
Mar-19
Apr-19
May-19
$640,000
187 49
$607,500
$605,000
194
204
35
Jun-19
Jul-19
32
31
Aug-19
Sep-19
MEDIAN DATA INVENTORY August
September
194
204 VARIANCE: 5 %
SALE PRICE PER SQFT. August
September
298
$
292 VARIANCE: -2 % $
SOLDS August
September
32
31 VARIANCE: -3 % SALE TO LIST PRICE RATIO August
SALES PRICE
September
98.25% 97.14% VARIANCE: -1 %
August
September
608k
$
$
605k VARIANCE: 0 %
DAYS ON MARKET August
September
69
69 VARIANCE: 0 %
SCOTTSDALE MARKET SUMMARY | SEPTEMBER 2019 • The Scottsdale attached luxury market is a Balanced Market with a 15% Sales Ratio. • Homes sold for a median of 97.14% of list price in September 2019. • The most active price band is $550,000-$574,999, where the sales ratio is 67%. • The median luxury sales price for attached homes has decreased to $605,000. • The median days on market for September 2019 was 69 days, remaining the same from August 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