JULIA KOVALYOVA L U X U RY MARKET REPORT
SCOTTSDALE MARCH 2019
JULIA KOVALYOVA REALTOR®
520.437.1838
julialuxuryexpert@gmail.com “Julia is FANTASTIC! She is so responsive never did we wait longer than an hour for a response from her. She knew the area well, and if it were her, we would have left money on the table. We did not know the Phoenix housing market in comparison from the area we moved from. She was able to help us navigate the market, and negotiated a fair deal for both us and the sellers. She works with integrity, and even the people she referred to us, like a plumber, home inspector, pool contractors etc., were all of the highest quality. I HIGHLY recommend Julia Kovalyova as your Realtor, you will not be disappointed.” - Jeffery L. “I was initially impressed with her inside knowledge of the condo complex that I was interested in. From there, she continued to impress with her high level of professionalism and her sense of calm when I thought things were hitting a snag. She was always right! She is the only Realtor in Tucson that I would ever consider working with again.” - Randy M. “Julia contacted me after needed more information on a particular property. From that point everything went very smooth and after short period of time I purchased my new home that I dearly love. She did a fantastic job, conducting herself in a knowledgeable and professional manner, perfecting an unforgettable journey for me. Perfection can be easily achieved if supreme excellence is the standard. I would recommend her service to anyone, anytime.” - Mike Z. “We were very impressed with Julia Kovalyova. She understood what we were looking for in a new home and spent several days showing us properties, with great patience and a positive attitude. When we finally found the right home, she negotiated the sale flawlessly, and we closed in less than one week. We highly recommend Julia Kovalyova!” - Julie C.
TABLE OF CONTENTS PAGE 4
LUXURY REPORT EXPLAINED
PAGE 5
WELCOME MESSAGE
PAGE 6-8
NORTH AMERICAN LUXURY MARKET REVIEW
PAGE 9
13 MONTH MARKET TRENDS
PAGE 10
SINGLE FAMILY HOMES MONTHLY OVERVIEW
PAGE 11
ATTACHED HOMES MONTHLY OVERVIEW
PAGE 12-14 MONTHLY STATISTICS BY CITY - Single Family Homes PAGE 15-17 MONTHLY STATISTICS BY CITY - Attached Homes PAGE 19
LOCAL LUXURY MARKET REVIEW
PAGE 20-21 SINGLE FAMILY HOMES - Monthly Statistics PAGE 22-23 ATTACHED HOMES - Monthly Statistics PAGE 24
THANK YOU
– LUXURY REPORT EXPLAINED – The Institute for Luxury Home Marketing has analyzed a number of metrics — including sales prices, sales volumes, number of sales, sales-price-to-list-price ratios, days on market and price-per-square-foot – to provide you a comprehensive North American Luxury Market report. Additionally, we have further examined all of the individual luxury markets to provide both an overview and an in-depth analysis - including, where data is sufficient, a breakdown by luxury single-family homes and luxury attached homes. It is our intention to include additional luxury markets on a continual basis. If your market is not featured, please contact us so we can implement the necessary qualification process. More in-depth reports on the luxury communities in your market are available as well. Looking through this report, you will notice three distinct market statuses, Buyer's Market, Seller's Market, and Balanced Market. A Buyer's Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point. By contrast, a Seller's Market gives sellers greater control over the price point. Typically, this means there are few homes on the market and a generous demand, causing competition between buyers who ultimately drive sales prices higher. A Balanced Market indicates that neither the buyers nor the sellers control the price point at which that property will sell and that there is neither a glut nor a lack of inventory. Typically, this type of market sees a stabilization of both the list and sold price, the length of time the property is on the market as well as the expectancy amongst homeowners in their respective communities – so long as their home is priced in accordance with the current market value.
REPORT GLOSSARY REMAINING INVENTORY: The total number of homes available at the close of a month. DAYS ON MARKET: Measures the number of days a home is available on the market before a purchase offer is accepted. LUXURY BENCHMARK PRICE: The price point that marks the transition from traditional homes to luxury homes. NEW LISTINGS: The number of homes that entered the market during the current month. PRICE PER SQUARE FOOT: Measures the dollar amount of the home's price for an individual square foot. SALES RATIO: Sales Ratio defines market speed and determines whether the market currently favors buyers or sellers. Buyer's Market = up to 14%; Balanced Market = 15 to 20%; Seller's Market = 21% plus. If >100%, sales from previous month exceed current inventory. SP/LP RATIO: The Sales Price/List Price Ratio compares the value of the sold price to the value of the list price.
THIS IS YOUR
LUXURY MARKET REPORT
MAP OF LUXURY RESIDENTIAL MARKETS
W
elcome to the Luxury Market Report, your guide to luxury real estate market data and trends for North America. Produced monthly by The Institute for Luxury Home Marketing, this report
provides an in-depth look at the top residential markets across the United States and Canada. Within the individual markets, you will find established luxury benchmark prices and detailed survey of luxury active and sold properties designed to showcase current market status and recent trends. The national report illustrates a compilation of the top North American markets to review overall standards and trends.
Copyright © 2019 Institute for Luxury Home Marketing | www.luxuryhomemarketing.com | 214.485.3000 The Luxury Market Report is a monthly analysis provided by The Institute for Luxury Home Marketing. Luxury benchmark prices are determined by The Institute annually. This active and sold data has been compiled by various sources, including local MLS boards, local tax records and Realtor.com. Data is deemed reliable to the best of our knowledge, but is not guaranteed.
NORTH AMERICAN F E B R UA RY LUXURY REVIEW 2 0 1 9 Is the luxury real estate market in a slowing trend or has it simply normalized? News media across North America has created its own winter storm regarding the luxury real estate market. Headlines are clashing with each other from the New York Times claiming that the luxury market is in a funk to BNN stating that it will bounce back but at a slower pace, while Forbes recommends watching the top luxury trends as the barometer that eventually affects the rest of the real estate market. Certainly, the overall market has slowed down since the end of 2017, but only in comparison to the fast pace of the previous 10 years when inventory levels fluctuated, and buyer demand outpaced available homes. If we look at the statistics over the last 13 months, both the median price point and the days on market, of homes sold, have remained fairly consistent, and it is only the increasing inventory that is causing a shift in the balance from a seller’s market to a buyer’s market. Looking at these statistics with an eye on the first few months of 2019 it is clear that inventory levels are still growing. However, this is to be expected as we transition from the winter market towards spring – with inventory remaining in the popular winter destinations where the season hasn’t quite finished coupled with the growing anticipation and recommendation by Realtors to get ahead of the Spring Rush! The illustrative graphs on the following page reinforce the marked stability of the luxury market over the last 13 months. Reviewing inventory levels* for the single-family luxury market, availability ranges from approximately 33,500 to upwards of 42,400 properties in any given month; however, these fluctuations are actually in line with seasonal shifts. The luxury attached home market showcases an almost perfect visual for a stable market, with the only drama being a significant increase in the number of days on market during January 2019. But *These numbers are based on the 68 markets featured in The Luxury Market Report.
– 13 - MONTH MARKET TRENDS – FOR THE LUXURY NORTH AMERICAN MARKET Inventory
Sales
Median Days on Market
– SINGLE FAMILY HOMES – 67
48 33
Feb-18
Mar-18
Apr-18
33
May-18
41,740
8,264
7,861
6,721
6,001
3,827
41
42,394
41,211
38,525
36,262
33,498
40
Jun-18
47
6,900 Jul-18
42,225
42,099
41,224
6,907 Aug-18
55
54
48
38,821
5,629
4,769 Sep-18
Oct-18
56
Nov-18
4,603 Dec-18
63
39,034
35,904
33,444
4,954
59
3,779
3,345 Jan-19
Feb-19
– ATTACHED HOMES – 57 43
36
1,670 Feb-18
2,399 Mar-18
34
2,531 Apr-18
34
14,579
14,403
13,452
13,062
12,578
30
2,664 May-18
34
Jun-18
2,330 Jul-18
40
16,016
15,477
14,432
14,235
2,757
41
2,314 Aug-18
47
1,785 Sep-18
42
15,325
1,926 Oct-18
46
Nov-18
15,816
14,722
13,841
1,826
45
1,665 Dec-18
1,252 Jan-19
1,450 Feb-19
this was an anomaly as numbers fell back within expected parameters in February 2019. If all things remained equal, then we could state that we are back in a normalized market; however, we must recognize that some powerful outside influencers are predicted to affect the spending of the wealthy. Contentious politics, punitive taxes, rising interest rates, and talks of recession are factors that could negatively impact the market. Conversely, the growing number of high-net-worth-individuals – over 22 million – and their increasing investable income – currently over $61 billion – provides insulation for the wealthy that, while not making them immune, does lessen the influence of economic fluctuations. This could be the reason for so many conflicting reports on the status of luxury. Quite simply, high-end buyers and sellers do not play by the same set of rules as the rest of the market! Not only are they a little more insulated but their financial decisions are lifestyle driven – which, in turn, translates into less predictable fluctuations, trends, and purchases. As a side note, many real estate experts believe that these decisions often create a ripple effect through the rest of the market, which is slower to react but eager to follow. While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels, and larger differences between list and sold price, represent a normalization of the market, not a downturn. With this in mind, sellers of higher priced homes should consider how to leverage the current market trends to effectively position their properties in front the right buyers, emphasizing the
long-term investment potential rather than short-term gain. Last month, we reviewed how specific cities, such as Austin, Detroit, and Raleigh, were bucking the trend with increasing demand for their high-end properties. It was determined that the trifecta of lifestyle, comparative affordability, and financial opportunity were the key differentiators. Another statistic that became clear was that there are opportunities to buy and sell in every market. By recognizing global, national, and local trends, it was realized that these all impact the decision process of the wealthy when purchasing or selling a property in any local market. Some price points certainly fare better during downturns, while others take a major hit – however, this should not prevent homeowners for looking at their property and creating a comprehensive marketing strategy that leverages the current trends to build awareness, create interest, and ultimately increase the demand. Demand is created by lining up ALL the right dots to actively find potential buyers – keeping in mind the current types, locations, and amenities that are attracting sales. Buyers of luxury properties are savvy and are keen to be informed – their needs vary from high-end homes in high demand areas to unique locations, which affords them land and privacy as well as from prestigious penthouses to boutique apartments – all of which translates into opportunity for sellers. No matter what market you are located, the word ‘luxury’ has become a little blurred over the last few years. In today’s market, it is has become increasingly critical to clarify the term in order to quantify the value of the home. By clearly defining the level of luxury, it will become easier to connect with the right potential buyer, who is now able to take advantage of the slower market to complete their assessment of the numbers and the location.
– 13 - MONTH MARKET TRENDS – FOR THE LUXURY NORTH AMERICAN MARKET
Single-Family Homes
Attached Homes
Single-Family List Price
Attached List Price
All data is based off median values. Median prices represent properties priced above respective city benchmark prices. 80
DAYS ON MARKET
67 60
54
48 40
41
40
43
33
33
36
30
34
34
34
MAY
JUN
JUL
47
41
40
AUG
SEP
57
48
47
63
59
56
55
45
46
42
20
0
FEB
MAR
APR
OCT
NOV
DEC
JAN
FEB
$490 $382
$478 $375
$485 $365
$457 $386
$347
$485
$493 $326
$318
$462
$471 $335
$348
$476 $357
$460
$466 $344
$300
$341
$452
$400
$494
$500
$334
PRICE PER SQUARE FOOT
$600
$200
$100
$0
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
JAN
FEB
SALES PRICE VS. LIST PRICE
$2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month January 2019 | February 2019
SINGLE-FAMILY HOMES January
February
January
February
Median List Price
$1,666,975 $1,692,000
Total Inventory
35,904
39,034
Median Sale Price
$1,420,000 $1,396,250
New Listings
10,583
10,257
3,345
3,779
59
63
3,750
3,712
Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
96.11%
96.88%
9.32%
9.68%
$375
$382
Total Sold Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
326
434
New Listings
Total Sold
4
0.36%
Med. Sale Price
Days on Market
Sales Ratio
23,750
$
SINGLE-FAMILY HOMES MARKET SUMMARY | FEBRUARY 2019 •
Official Market Type: Buyer's Market with a 9.68% Sales Ratio.1
•
Homes are selling for an average of 96.88% of list price.
•
The median luxury threshold2 price is $1,000,000, and the median luxury home sales price is $1,396,250.
•
Markets with the Highest Median Sales Price: Vail ($5,150,000), Santa Barbara ($3,775,000), LA Beach Cities ($3,750,000), and Washington D.C. ($3,700,000).
•
Markets with the Highest Sales Ratio: Seattle (37%), San Francisco (37%), Silicon Valley (36%), and Denver (26%).
1
Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – A Review of Key Market Differences Month Over Month January 2019 | February 2019
ATTACHED HOMES January
Median List Price Median Sale Price Median SP/LP Ratio Total Sales Ratio Median Price per Sq. Ft.
February
$1,017,323 $1,000,000 $890,349
$876,223
97.30%
97.64%
8.50%
9.17%
$478
$490
January
February
14,722
15,816
New Listings
4,265
3,886
Total Sold
1,252
1,450
57
45
1,998
2,036
Total Inventory
Median Days on Market Average Home Size
Median prices represent properties priced above respective city benchmark prices.
379
198
New Listings
Total Sold
Med. Sale Price
Days on Market
14,126
$
12
0.67% Sales Ratio
ATTACHED HOMES MARKET SUMMARY | FEBRUARY 2019 •
Official Market Type: Buyer's Market with an 9.17% Sales Ratio.1
•
Attached homes are selling for an average of 97.64% of list price.
•
The median luxury threshold2 price is $693,725, and the median attached luxury sale price is $876,223.
•
Markets with the Highest Median Sales Price: Vail ($2,500,000), San Francisco ($2,460,000), Park City ($2,150,000), and Greater Boston ($2,030,000).
•
Markets with the Highest Sales Ratio: Fairfax County (68%), Silicon Valley (56%), Arlington & Alexandria (51%), and Marin County (40%).
1
Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100%, sales from previous month exceeds current inventory. 2The luxury threshold price is set in December of each year by The Institute for Luxury Home Marketing.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$1,154,900
$1,068,500
598
196
51
40
Buyer's
AZ
Paradise Valley
$3,000,000
$2,000,000
270
45
9
153
Buyer's
AZ
Phoenix
$699,999
$596,408
943
248
134
71
Buyer's
AZ
Scottsdale
$1,650,000
$1,350,000
1,039
162
79
92
Buyer's
AZ
Tucson
$769,000
$635,000
806
177
73
23
Buyer's
BC
Okanagan Valley
$1,695,000
$1,491,250
489
93
10
105
Buyer's
BC
Vancouver
$3,998,800
$3,050,000
1,216
268
24
17
Buyer's
BC
Victoria
$1,987,500
$1,470,000
264
58
19
62
Buyer's
CA
Los Angeles Beach Cities
$4,999,999
$3,750,000
365
115
23
39
Buyer's
CA
Los Angeles City
$4,217,500
$3,115,000
876
263
86
46
Buyer's
CA
Los Angeles The Valley
$2,299,500
$1,925,000
504
179
69
58
Buyer's
CA
Marin County
$3,895,000
$2,470,000
87
26
14
101
Balanced
CA
Napa County
$2,549,500
$2,046,955
82
9
7
114
Buyer's
CA
Orange County
$2,395,000
$2,050,000
1,555
403
119
52
Buyer's
CA
Palm Springs & Palm Desert
$1,800,000
$1,600,000
665
121
55
51
Buyer's
CA
Placer County
$1,040,500
$895,000
223
74
33
23
Buyer's
CA
Sacramento
$796,700
$703,750
640
233
156
35
Seller's
CA
San Diego
$2,295,000
$1,583,750
1,091
321
168
38
Balanced
CA
San Francisco
$3,995,000
$3,650,000
52
15
19
15
Seller's
CA
Santa Barbara
$3,595,000
$3,775,000
246
44
20
47
Buyer's
CA
Silicon Valley
$4,746,500
$3,175,000
170
82
62
13
Seller's
CA
Ventura County
$1,849,000
$1,420,000
317
91
35
79
Buyer's
CO
Boulder
$1,795,000
$1,615,000
177
61
25
64
Buyer's
Median prices represent properties priced above respective city benchmark prices.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Denver
$950,000
$850,000
927
374
239
28
Seller's
CO
Douglas County
$1,299,000
$1,200,000
221
65
37
63
Balanced
CO
Vail
$4,795,000
$5,150,000
125
7
2
571
Buyer's
DC
Washington D.C.
$3,195,000
$3,700,000
51
15
6
45
Buyer's
$2,197,000
$1,800,000
674
102
45
64
Buyer's
$1,600,000
$1,505,000
99
19
11
170
Buyer's
FL FL
Boca Raton & Delray Beach Coastal Pinellas County Towns
FL
Greater Fort Lauderdale
$1,295,000
$1,035,000
1,747
342
76
97
Buyer's
FL
Jacksonville Beaches
$1,249,000
$1,114,305
319
60
22
106
Buyer's
FL
Miami
$1,300,000
$1,220,000
1,619
289
44
134
Buyer's
FL
Naples
$2,195,000
$2,200,000
884
114
44
83
Buyer's
FL
Orlando
$1,635,000
$1,325,000
531
113
37
44
Buyer's
FL
Palm Beach Towns
$3,385,000
$1,612,250
473
74
18
100
Buyer's
FL
Sarasota & Beaches
$1,689,000
$1,392,500
687
116
38
123
Buyer's
FL
Tampa
$775,000
$707,500
798
174
94
84
Buyer's
GA
Atlanta
$1,175,000
$955,000
1,238
367
99
51
Buyer's
HI
Kauai
$2,395,000
$2,342,500
155
21
7
55
Buyer's
HI
Maui
$2,999,000
$1,900,000
204
30
13
250
Buyer's
HI
Oahu
$3,188,000
$2,340,000
221
30
12
23
Buyer's
IL
Chicago
$1,275,000
$1,012,500
1,733
695
120
141
Buyer's
MA
Greater Boston
$2,980,000
$2,412,500
119
43
14
12
Buyer's
MD
Montgomery County
$1,785,000
$1,382,000
269
72
36
75
Buyer's
MD
Talbot County
$1,995,000
$1,490,000
91
9
3
94
Buyer's
MD
Worcester County
$1,024,498
$742,500
60
15
2
30
Buyer's
Median prices represent properties priced above respective city benchmark prices.
– LUXURY MONTHLY MARKET REVIEW – SINGLE-FAMILY HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
MI
Oakland County
$700,000
$604,500
938
272
84
39
Buyer's
MO
St. Louis
$729,900
$690,950
189
57
16
38
Buyer's
NC
Charlotte
$899,000
$825,733
972
267
102
70
Buyer's
NC
Raleigh-Durham
$725,000
$640,000
916
219
155
0
Balanced
NJ
Ocean County
$865,000
$762,500
643
186
26
64
Buyer's
NV
Las Vegas
$725,000
$660,000
1,556
397
189
64
Buyer's
NY
Brooklyn
$1,425,000
$1,400,000
163
45
8
131
Buyer's
NY
Staten Island
$1,249,000
$1,012,500
161
26
10
130
Buyer's
ON
GTA - York
$2,280,000
$1,785,000
415
169
45
29
Buyer's
ON
Toronto
$3,498,888
$2,938,953
391
161
44
18
Buyer's
TN
Nashville
$1,049,900
$875,000
321
101
45
26
Buyer's
TX
Austin
$999,500
$835,000
570
209
115
40
Balanced
TX
Collin County
$700,000
$642,500
833
216
90
87
Buyer's
TX
Dallas
$996,500
$987,000
840
267
82
40
Buyer's
TX
Fort Worth
$850,000
$765,750
712
212
98
65
Buyer's
TX
Houston
$845,000
$723,650
1,870
553
171
40
Buyer's
TX
The Woodlands & Spring
$773,583
$726,000
452
143
43
72
Buyer's
UT
Park City
$3,450,000
$2,300,000
265
34
20
63
Buyer's
VA
Arlington & Alexandria
$1,999,000
$1,732,500
85
28
8
31
Buyer's
VA
Fairfax County
$1,675,000
$1,365,000
441
129
39
77
Buyer's
VA
McLean & Vienna
$1,950,000
$1,537,500
201
58
14
65
Buyer's
WA
Seattle
$1,812,500
$1,325,000
180
78
66
12
Seller's
Median prices represent properties priced above respective city benchmark prices.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
AB
Calgary
$805,000
$790,000
291
88
19
41
Buyer's
AZ
Paradise Valley
-
-
-
-
-
-
-
AZ
Phoenix
-
-
-
-
-
-
-
AZ
Scottsdale
$725,000
$660,000
253
54
31
62
Buyer's
AZ
Tucson
-
-
-
-
-
-
-
BC
Okanagan Valley
-
-
-
-
-
-
-
BC
Vancouver
$1,948,000
$1,894,500
774
266
42
27
Buyer's
BC
Victoria
$888,950
$732,250
206
69
24
36
Buyer's
CA
Los Angeles Beach Cities
$1,649,000
$1,575,000
183
68
40
29
Seller's
CA
Los Angeles City
$1,497,000
$1,260,000
327
105
31
48
Buyer's
CA
Los Angeles The Valley
$687,500
$680,000
137
68
27
53
Balanced
CA
Marin County
$1,012,000
$993,759
10
1
4
28
Seller's
CA
Napa County
-
-
-
-
-
-
-
CA
Orange County
$1,038,000
$915,000
479
187
70
33
Buyer's
CA
Palm Springs & Palm Desert
-
-
-
-
-
-
-
CA
Placer County
-
-
-
-
-
-
-
CA
Sacramento
-
-
-
-
-
-
-
CA
San Diego
$1,000,000
$897,445
528
180
74
33
Buyer's
CA
San Francisco
$2,880,000
$2,460,000
107
30
19
29
Balanced
CA
Santa Barbara
$1,595,000
$1,568,000
32
3
5
35
Balanced
CA
Silicon Valley
$1,478,486
$1,397,000
64
36
36
14
Seller's
CA
Ventura County
$709,900
$815,000
57
22
9
16
Balanced
CO
Boulder
$825,000
$814,500
61
19
10
87
Balanced
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
CO
Denver
$699,000
$625,000
513
201
120
26
Seller's
CO
Douglas County
$677,450
$525,000
22
8
3
20
Buyer's
CO
Vail
$3,997,000
$2,500,000
102
9
3
13
Buyer's
DC
Washington D.C.
$1,915,000
$1,450,000
159
51
19
37
Buyer's
$822,250
$790,000
444
83
33
106
Buyer's
$875,000
$778,500
136
25
20
38
Buyer's
$859,000
$807,250
1,380
184
40
90
Buyer's
FL FL
Boca Raton & Delray Beach Coastal Pinellas County Towns
FL
Greater Fort Lauderdale
FL
Jacksonville Beaches
$1,375,000
$855,000
57
11
3
27
Buyer's
FL
Miami
$1,000,000
$1,145,000
3,097
359
67
196
Buyer's
FL
Naples
$2,195,000
$1,850,000
315
67
19
53
Buyer's
FL
Orlando
$699,900
$560,405
81
18
13
140
Balanced
FL
Palm Beach Towns
$1,300,000
$955,000
419
64
29
75
Buyer's
FL
Sarasota & Beaches
$1,399,000
$1,175,000
289
49
21
60
Buyer's
FL
Tampa
$669,000
$720,000
129
28
16
45
Buyer's
GA
Atlanta
$649,000
$639,900
508
121
49
63
Buyer's
HI
Oahu
$1,272,500
$1,097,500
58
4
2
246
Buyer's
HI
Kauai
$1,781,500
$1,337,500
156
21
11
78
Buyer's
HI
Maui
$1,344,500
$1,140,000
468
107
24
39
Buyer's
IL
Chicago
$1,200,000
$977,500
866
312
60
119
Buyer's
MA
Greater Boston
$2,375,000
$2,030,000
229
70
23
29
Buyer's
MD
Montgomery County
$799,370
$696,750
137
42
30
55
Seller's
MD
Talbot County
-
-
-
-
-
-
-
MD
Worcester County
$619,900
$700,000
105
19
7
172
Buyer's
Markets with dashes do not have a significant luxury market for this report. Median prices represent properties priced above respective city benchmark prices.
– LUXURY MONTHLY MARKET REVIEW – ATTACHED HOMES State Market Name
Median List Price
Median Sold Price
Inventory
New Listings
Sold
Days on Market
Market Status
MI
Oakland County
$925,000
$600,000
69
15
3
120
Buyer's
MO
St. Louis
-
-
-
-
-
-
-
NC
Charlotte
$699,381
$600,412
140
30
18
66
Buyer's
NC
Raleigh-Durham
-
-
-
-
-
-
-
NJ
Ocean County
$679,400
$604,000
107
27
10
137
Buyer's
NV
Las Vegas
-
-
-
-
-
-
-
NY
Brooklyn
$1,399,000
$1,160,000
636
140
49
79
Buyer's
NY
Staten Island
-
-
-
-
-
-
-
ON
GTA - York
$749,998
$707,500
123
53
14
30
Buyer's
ON
Toronto
$1,279,000
$1,140,500
355
224
108
17
Seller's
TN
Nashville
$725,250
$620,000
88
19
12
41
Buyer's
TX
Austin
$769,850
$634,500
198
52
18
25
Buyer's
TX
Collin County
-
-
-
-
-
-
-
TX
Dallas
$699,000
$642,000
188
42
16
62
Buyer's
TX
Ft. Worth
-
-
-
-
-
-
-
TX
Houston
$636,000
$575,000
214
64
13
27
Buyer's
TX
The Woodlands and Spring
-
-
-
-
-
-
-
UT
Park City
$1,950,000
$2,150,000
229
51
17
45
Buyer's
VA
Arlington & Alexandria
$1,199,900
$1,035,000
53
26
27
47
Seller's
VA
Fairfax County
$824,998
$747,000
104
55
71
21
Seller's
VA
McLean & Vienna
$1,199,900
$1,152,500
27
8
4
88
Buyer's
WA
Seattle
$1,148,950
$1,147,000
106
31
17
112
Balanced
Luxury is in each detail. Hubert de Givenchy
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
275
353 VARIANCE: 28 %
$
$
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
Thank you for taking time to view this report. For more information about this report and the services I can offer you and your luxury property, please give me a call at 520.437.1838.
- Julia Kovalyova
JULIA KOVALYOVA
520.437.1838 | julialuxuryexpert@gmail.com