Luxury Property Report Scottsdale Arizona September 2019
The Lifestyle Collection www.TheLifestyleCollection.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | AUGUST 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
33
0 20
0
30
1
$1,300,000 - $1,399,999 $1,200,000 - $1,299,999
58
45
2
60
3
71
7
87
6
48
6
51
6
$1,100,000 - $1,199,999 $1,000,000 - $1,099,999
54
11 29
6
$950,000 - $999,999
1
Total Sales Ratio2: 10%
4
$1,600,000 - $1,799,999 $1,400,000 - $1,599,999
Buyer's Market 36
4
$2,300,000 - $2,699,999
$1,800,000 - $1,999,999
Total Sales: 71 34
1
$2,700,000 - $3,199,999
$2,000,000 - $2,299,999
Total Inventory: 696
40
14
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,499
$992,500
4
4
12
70
17%
3,500 - 4,499
$1,275,000
4
4
31
190
16%
4,500 - 5,499
$1,364,650
4
5
17
188
9%
5,500 - 6,499
$2,370,000
5
6
7
103
7%
6,500 - 7,499
NA
NA
NA
0
61
0%
7,500+
$2,392,083
6
8
4
84
5%
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
$1,252,500
686
881
847
751
82
66
Aug-18
Sep-18
$1,291,750
84
Oct-18
$1,250,000
$1,420,000
68
72
Nov-18
Dec-18
$1,350,000
63 Jan-19
$1,475,000
Solds
$1,391,250
1,095
1,039
989
869
Inventory
980
79
87
Feb-19
Mar-19
$1,400,000
$1,350,000
942
124
Apr-19
790
133
$1,365,320
696
694 116
May-19
$1,275,000
Jun-19
95
71
Jul-19
Aug-19
MEDIAN DATA INVENTORY July
August
July
696 VARIANCE: 0 %
95
694
SALE PRICE PER SQFT. July
August
296
$
SOLDS
304 VARIANCE: 3 % $
SALES PRICE August
71 VARIANCE: -25 % SALE TO LIST PRICE RATIO July
August
95.65% 95.81% VARIANCE: 0 %
July
1.37m
$
August
1.28m VARIANCE: -7 % $
DAYS ON MARKET July
August
85
101 VARIANCE: 19 %
SCOTTSDALE MARKET SUMMARY | AUGUST 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 95.81% of list price in August 2019. • The most active price band is $950,000-$999,999, where the sales ratio is 35%. • The median luxury sales price for single-family homes has decreased to $1,275,000. • The median days on market for August 2019 was 101 days, up from 85 in July 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 | AUGUST 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 $800,000 - $849,999 $750,000 - $799,999
37
0 7
1 1
2
Total Sales: 32
$625,000 - $649,999 $600,000 - $624,999
6
1
13
1 7
4
15
1 8
2
11
1
2
3
$575,000 - $599,999 $550,000 - $574,999
13
7
16
3
$520,000 - $549,999
1
Total Sales Ratio2: 16%
10
1
$650,000 - $674,999
Balanced Market
15
1
$700,000 - $749,999
$675,000 - $699,999
Total Inventory: 194
31
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$769,500
2
2
2
20
10%
1,500 - 1,999
$575,000
2
2
11
49
22%
2,000 - 2,499
$607,500
3
3
10
70
14%
2,500 - 2,999
$702,000
3
3
6
32
19%
3,000 - 3,499
$700,000
3
4
3
13
23%
3,500+
NA
NA
NA
0
10
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
$712,500
$624,500
$568,279
$592,500
$618,000
Inventory
$582,500
243
115 24
13
Aug-18
Sep-18
22 Oct-18
$632,500
253
259
$680,000
220
$625,000
$632,500
222
208
161
140
137
126
$660,000
Solds
20
25
Nov-18
Dec-18
26
Jan-19
31
46
45
48
Feb-19
Mar-19
Apr-19
May-19
$640,000
$607,500
187
194
49
Jun-19
35
32
Jul-19
Aug-19
MEDIAN DATA INVENTORY July
August
July
194 VARIANCE: 4 %
35
187
SALE PRICE PER SQFT. July
$
SOLDS
August
296
298 VARIANCE: 1 % $
SALES PRICE August
32 VARIANCE: -9 % SALE TO LIST PRICE RATIO July
August
98.13% 98.25% VARIANCE: 0 %
July
640k
$
August
608k VARIANCE: -5 % $
DAYS ON MARKET July
August
58
69 VARIANCE: 19 %
SCOTTSDALE MARKET SUMMARY | AUGUST 2019 • The Scottsdale attached luxury market is a Balanced Market with a 16% Sales Ratio. • Homes sold for a median of 98.25% of list price in August 2019. • The most active price band is $600,000-$624,999, where the sales ratio is 67%. • The median luxury sales price for attached homes has decreased to $607,500. • The median days on market for August 2019 was 69 days, up from 58 in July 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