Luxury Property Report Scottsdale Arizona May 2019
Presented by
The Lifestyle Collection www.LifestyleCollectionRe.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,300,000 - $4,999,999 $3,700,000 - $4,299,999
27
0
Total Sales Ratio2: 13%
60 78
3
67
9
$1,800,000 - $1,999,999
67
8
113
5
$1,400,000 - $1,599,999
122
24
$1,300,000 - $1,399,999
54
9
$1,200,000 - $1,299,999
65
11
$1,100,000 - $1,199,999
$950,000 - $999,999
Buyer's Market
5
$2,000,000 - $2,299,999
$1,000,000 - $1,099,999
Total Sales: 124 42
5
$2,700,000 - $3,199,999
$1,600,000 - $1,799,999
Total Inventory: 980 38
1
$3,200,000 - $3,699,999
$2,300,000 - $2,699,999
52
2
57
20 53
6
85
16
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,195,000
3
3
7
31
23%
3,000 - 3,999
$1,160,000
4
4
33
189
17%
4,000 - 4,999
$1,396,250
4
5
42
273
15%
5,000 - 5,999
$1,522,500
5
5
20
218
9%
6,000 - 6,999
$2,207,500
5
6
12
121
10%
7,000+
$2,400,000
5
7
10
148
7%
The luxury threshold price is set by The Institute for Luxury Home Marketing based on reported data. 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
$1,300,000
$1,245,000
810
$1,292,500
812
787
Apr-18
743
130
117
101
May-18
$1,327,500
Jun-18
$1,490,000 $1,252,500
80 Jul-18
$1,430,000
82
66
Aug-18
Sep-18
$1,291,750
84
Oct-18
Solds
$1,250,000
881
847
751
686
Inventory
$1,420,000
$1,350,000
68
72
Nov-18
Dec-18
1,095
1,039
989
869
63 Jan-19
$1,475,000
$1,391,250
980
79
87
Feb-19
Mar-19
124
Apr-19
MEDIAN DATA INVENTORY March
April
1,095
SOLDS March
SALES PRICE April
980 VARIANCE: -11 %
124 VARIANCE: 43 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
March
April
343
$
329 VARIANCE: -4 % $
87
March
April
93.51%
96.25% VARIANCE: 3 %
March
1.48m
$
April
1.39m VARIANCE: -6 % $
DAYS ON MARKET March
April
82
96 VARIANCE: 17 %
SCOTTSDALE MARKET SUMMARY | APRIL 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 13% Sales Ratio. • Homes sold for a median of 96.25% of list price in April 2019. • The most active price band is $1,100,000-$1,199,999, where the sales ratio is 35%. • The median luxury sales price for single-family homes has decreased to $1,391,250. • The median days on market for April 2019 was 96 days, up from 82 in March 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 | APRIL 2019 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999
9
2
$850,000 - $899,999
$600,000 - $624,999
9
11
3
11
1
12
3 10
1
$625,000 - $649,999
13
3 5
1
$575,000 - $599,999 $550,000 - $574,999
Total Sales Ratio2: 20%
11
3
$675,000 - $699,999
Balanced Market
16
1
$750,000 - $799,999
$650,000 - $674,999
Total Sales: 45
1
$800,000 - $849,999
$700,000 - $749,999
Total Inventory: 220
4 4
$1,000,000 - $1,124,999 $900,000 - $999,999
30
6
21
7
23
1
$520,000 - $549,999
35
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$625,000
2
3
34
190
18%
3,000 - 3,999
$900,000
3
3
10
26
38%
4,000 - 4,999
$1,875,000
3
5
1
2
50%
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 by The Institute for Luxury Home Marketing based on reported data. 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
Inventory
$712,500 $620,000
$600,000
$593,000
$609,950
$568,279
$624,500
$592,500
Solds
$618,000
$582,500
243
108
124
117
100 33
26
Apr-18
May-18
25
Jun-18
22 Jul-18
24
13
Aug-18
Sep-18
22 Oct-18
$632,500
253
259
$680,000
220
161
140
137
126
115
$660,000
20
25
Nov-18
Dec-18
26
Jan-19
31
46
45
Feb-19
Mar-19
Apr-19
MEDIAN DATA INVENTORY March
April
259
220 VARIANCE: -15 %
SALE PRICE PER SQFT. March
April
318
$
317 VARIANCE: 0 % $
SOLDS March
SALES PRICE April
46
45 VARIANCE: -2 %
SALE TO LIST PRICE RATIO March
April
97.91% 96.90% VARIANCE: -1 %
March
633k
$
April
680k VARIANCE: 8 % $
DAYS ON MARKET March
51
70 VARIANCE: 37 %
SCOTTSDALE MARKET SUMMARY | APRIL 2019 • The Scottsdale attached luxury market is a Balanced Market with a 20% Sales Ratio. • Homes sold for a median of 96.90% of list price in April 2019. • The most active price band is $1,000,000-$1,124,999, where the sales ratio is 100%. • The median luxury sales price for attached homes has increased to $680,000. • The median days on market for April 2019 was 70 days, up from 51 in March 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
April