www.LuxuryHomeMarketing.com PARADISE VALLEY ARIZONA Home of the CLHMS TM 2023 JULY
LUXURY
VS. SALES | JUNE 2023
10 11 19 9 8 9 14 5 8 4 8 2 4 3 3 1 2 1 2 1 9 3 3 1 1 2 5 3 4 2 $15,000,000+ $10,000,000 - $14,999,999 $8,000,000 - $9,999,999 $7,000,000 - $7,999,999 $6,000,000 - $6,999,999 $5,000,000 - $5,999,999 $4,500,000 - $4,999,999 $4,000,000 - $4,499,999 $3,500,000 - $3,999,999 $3,000,000 - $3,499,999 $2,800,000 - $2,999,999 $2,600,000 - $2,799,999 $2,300,000 - $2,599,999 $2,000,000 - $2,299,999 $1,700,000 - $1,999,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 3,999 $2,346,000 3 4 10 20 50% 4,000 - 4,999 $3,295,000 4 5 11 18 61% 5,000 - 5,999 $4,500,000 5 5 7 20 35% 6,000 - 6,999 $6,539,500 5 6 2 12 17% 7,000 - 7,999 $6,050,000 5 6 5 17 29% 8,000+ $7,250,000 6 7 5 30 17%
SINGLE
FAMILY HOMES
PARADISE VALLEY
-
INVENTORY
Luxury Benchmark Price 1: $1,700,000 Seller's Market 117 Total Inventory: 40 Total Sales: 34% Total Sales Ratio2: 1 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.
PARADISE VALLEY SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 $4,337,500 $4,347,500 $3,025,000 $3,600,000 $3,225,000 $3,699,800 $3,025,000
$4,200,000 $3,200,000 $3,650,000 $4,100,000 $4,600,000 $4,275,000 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
TOTAL INVENTORY
TOTAL SOLDS
SALES PRICE
VARIANCE: 24 % 94 117 Jun. 2022 Jun. 2023
SALE PRICE PER
VARIANCE: 67 % 24 40
SALE TO LIST PRICE RATIO
VARIANCE: 1 % 95.96% 97.04%
VARIANCE: - 1 % $4.34m $4.28m
DAYS ON MARKET
VARIANCE: 16 % $733 $852 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023
VARIANCE: 25 % 53 66
PARADISE VALLEY MARKET SUMMARY | JUNE 2023
• The Paradise Valley single-family luxury market is a Seller's Market with a 34% Sales Ratio.
• Homes sold for a median of 97.04% of list price in June 2023.
• The most active price band is $2,600,000-$2,799,999, where the sales ratio is 250%
• The median luxury sales price for single-family homes is $4,275,000.
• The median days on market for June 2023 was 66 days, up from 53 in June 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
MEDIAN DATA REVIEW | JUNE Solds Median Sales Price Inventory 94 102 110 133 164 146 120 137 165 154 162 146 117 24 10 21 15 13 12 22 21 22 25 37 33 40
SQFT.
www.LuxuryHomeMarketing.com SCOTTSDALE ARIZONA Home of the CLHMS TM 2023 JULY
91 28 32 35 44 64 60 43 41 31 21 22 15 25 23 15 9 6 15 9 27 21 22 28 12 17 17 13 13 12 $4,500,000+ $3,900,000 - $4,499,999 $3,500,000 - $3,899,999 $3,100,000 - $3,499,999 $2,700,000 - $3,099,999 $2,300,000 - $2,699,999 $1,900,000 - $2,299,999 $1,700,000 - $1,899,999 $1,500,000 - $1,699,999 $1,400,000 - $1,499,999 $1,300,000 - $1,399,999 $1,250,000 - $1,299,999 $1,200,000 - $1,249,999 $1,150,000 - $1,199,999 $1,100,000 - $1,149,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 3,499 $1,300,000 4 3 91 200 46% 3,500 - 4,499 $1,867,137 4 4 86 163 53% 4,500 - 5,499 $2,822,500 5 5 34 92 37% 5,500 - 6,499 $3,200,000 5 6 13 49 27% 6,500 - 7,499 $4,500,000 5 6 5 38 13% 7,500+ $7,895,000 6 8 7 33 21% SCOTTSDALE SINGLE - FAMILY HOMES
INVENTORY
Benchmark Price 1: $1,100,000 Seller's Market 575 Total Inventory: 236 Total Sales: 41% Total Sales Ratio2: 1 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.
LUXURY
VS. SALES | JUNE 2023 Luxury
SCOTTSDALE
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 $1,664,781 $1,615,600 $1,755,000 $1,570,000 $1,500,000 $1,625,000 $1,699,950 $1,720,000 $1,622,500 $1,580,000 $1,632,500 $1,646,000 $1,750,000 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
TOTAL INVENTORY
TOTAL SOLDS
SALES PRICE
2022
Jun.
VARIANCE: - 8 % 625 575
VARIANCE: - 2 % $511 $500
VARIANCE: 1 % 234 236
SALE TO LIST PRICE RATIO
100.00% 97.47%
VARIANCE: - 3 %
$1.66m $1.75m
VARIANCE: 5 %
DAYS ON MARKET
SALE PRICE PER SQFT. Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023
VARIANCE: 90 % 29 55
SCOTTSDALE ATTACHED HOMES
8 9 6 19 22 5 5 9 8 14 7 15 16 23 20 2 1 0 7 10 3 3 3 6 2 7 8 14 21 17 $3,000,000+ $2,500,000 - $2,999,999 $2,000,000 - $2,499,999 $1,600,000 - $1,999,999 $1,200,000 - $1,599,999 $1,100,000 - $1,199,999 $1,000,000 - $1,099,999 $950,000 - $999,999 $900,000 - $949,999 $850,000 - $899,999 $800,000 - $849,999 $750,000 - $799,999 $700,000 - $749,999 $650,000 - $699,999 $600,000 - $649,999 Inventory Sales
Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,499 $720,000 2 2 9 31 29% 1,500 - 1,999 $700,000 2 2 33 64 52% 2,000 - 2,499 $740,000 3 3 45 59 76% 2,500 - 2,999 $1,119,043 3 3 9 18 50% 3,000 - 3,499 $1,442,500 3 4 6 8 75% 3,500+ $2,800,000 4 5 2 6 33%
Luxury Benchmark Price 1: $600,000 Seller's Market 186 Total Inventory: 104 Total Sales: 56% Total Sales Ratio2: 1 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.
LUXURY INVENTORY VS. SALES | JUNE 2023
13 - MONTH LUXURY MARKET TREND 4
MEDIAN DATA REVIEW | JUNE
TOTAL INVENTORY TOTAL SOLDS
VARIANCE: - 13 % 213 186
SALE PRICE PER SQFT.
VARIANCE: - 10 % $448 $401
16 % 90 104
SALE TO LIST PRICE RATIO
VARIANCE: - 2 % 98.94% 97.14%
SALES PRICE
- 5 % $787k $750k
DAYS ON MARKET
VARIANCE: 36 % 33 45
SCOTTSDALE MARKET SUMMARY | JUNE 2023
• The Scottsdale attached luxury market is a Seller's Market with a 56% Sales Ratio.
• Homes sold for a median of 97.14% of list price in June 2023.
• The most active price band is $800,000-$849,999, where the sales ratio is 100%
• The median luxury sales price for attached homes is $749,950.
• The median days on market for June 2023 was 45 days, up from 33 in June 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
213 202 193 208 228 214 194 234 240 255 228 221 186 90 44 47 44 42 46 40 45 57 79 62 85 104 $786,500 $799,500 $790,000 $690,000 $760,000 $813,750 $750,000 $795,000 $760,000 $790,000 $750,625 $800,000 $749,950 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Solds Sale Price Inventory
VARIANCE:
VARIANCE:
SCOTTSDALE ATTACHED HOMES
Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023
www.LuxuryHomeMarketing.com PHOENIX ARIZONA Home of the CLHMS TM 2023 JULY
34 20 24 29 29 41 61 24 60 39 37 57 57 79 56 3 4 7 11 7 10 19 11 24 18 21 22 32 48 66 $3,000,000+ $2,500,000 - $2,999,999 $2,100,000 - $2,499,999 $1,700,000 - $2,099,999 $1,500,000 - $1,699,999 $1,300,000 - $1,499,999 $1,100,000 - $1,299,999 $1,000,000 - $1,099,999 $900,000 - $999,999 $850,000 - $899,999 $800,000 - $849,999 $750,000 - $799,999 $700,000 - $749,999 $650,000 - $699,999 $600,000 - $649,999 Inventory Sales Square Feet3 -RangePrice -Median SoldBeds -Median SoldBaths -Median SoldSold -TotalInventory -TotalSales Ratio -Sold/Inventory0 - 1,999 $675,000 3 2 62 102 61% 2,000 - 2,999 $720,000 4 3 155 296 52% 3,000 - 3,999 $955,000 4 4 66 170 39% 4,000 - 4,999 $1,250,000 5 4 18 45 40% 5,000 - 5,999 $2,090,000 6 6 1 16 6% 6,000+ $1,658,164 7 7 1 18 6%
INVENTORY
Luxury Benchmark Price 1: $600,000 Seller's Market 647 Total Inventory: 303 Total Sales: 47% Total Sales Ratio2: 1 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.
PHOENIX SINGLE - FAMILY HOMES LUXURY
VS. SALES | JUNE 2023
TOTAL INVENTORY
Jun. 2022 Jun. 2023
900 647
VARIANCE: - 28 %
SALE PRICE PER SQFT.
VARIANCE: - 2 % $337 $329
TOTAL SOLDS
VARIANCE: - 24 % 397 303
SALE TO LIST PRICE RATIO
100.00% 99.27%
VARIANCE: - 1 %
SALES PRICE
$800k $768k
VARIANCE: - 4 %
DAYS ON MARKET
26 39
VARIANCE: 50 %
PHOENIX MARKET SUMMARY | JUNE 2023
• The Phoenix single-family luxury market is a Seller's Market with a 47% Sales Ratio.
• Homes sold for a median of 99.27% of list price in June 2023.
• The most active price band is $600,000-$649,999, where the sales ratio is 118%
• The median luxury sales price for single-family homes is $767,500.
• The median days on market for June 2023 was 39 days, up from 26 in June 2022.
3Square foot table does not account for listings and solds where square foot data is not disclosed. 4Data reported includes Active and Sold properties and does not include Pending properties.
13 - MONTH
Solds Median Sales Price Inventory 900 964 873 935 916 837 694 714 728 680 656 671 647 397 260 272 275 248 181 201 151 203 253 274 355 303 $800,000 $793,750 $787,000 $775,000 $805,260 $775,000 $755,000 $799,000 $779,990 $851,000 $775,000 $802,000 $767,500 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
MEDIAN DATA REVIEW | JUNE
LUXURY MARKET TREND 4
PHOENIX SINGLE - FAMILY HOMES
Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023 Jun. 2022 Jun. 2023