W alt Dan ley Realt y Northeast Valley – Luxury Market Summary – June 2022 This summary analyzes single family homes over $500,000 in all areas of the Northeast Valley, including Scottsdale, Paradise Valley, Arcadia, Biltmore, Carefree, Cave Creek, Fountain Hills and Rio Verde. SUPPLY At the end of May, the active listing count was much higher This Year 1,521 than the month before, moving from 1,153 to 1,521. This Last Year 1,285 is the first time we have a seen a significant jump in supply during May since 2005. We measured 1,285 at the same time last year, so supply is up 18% since then. This is the first year-over-year increase since 2016. Clearly the market is shifting, and the changes are happening at great speed. Homes between $500,000 and $1 million have seen supply rise 18% compared to a year ago. Listings between $1 million and $2 million are where the bulk of the additional supply has arrived. They are up 36% compared with a year ago. Homes over $2 million are up 6% from the same time last year. Distress remains extremely low. There are eight pre-foreclosures but no lender-owned homes. Active Listings
DEMAND - SALES The level of closing activity remained fairly high during May. This Year 717 We saw 717 closed listings, down 19% from May 2021 but Last Year 886 higher than all earlier May totals, the prior record being 634 in 2019. Limited by very weak supply, sales between $500,000 and $800,000 dropped 35% compared to a year ago. In contrast, the range over $2 million was up 2%, while sales of homes between $800,000 and $2 million were down 14%. Sales
DEMAND – UNDER CONTRACT We can anticipate future sales by looking at homes under This Year 849 contract. We started June 2022 with 849 listings under Last Year 1,100 contract, which is down 23% from 1,100 in June 2021 and down 8% from 921 last month. This is a weak result for both year-over-year and month-to-month changes. We deduce that demand is declining, and we are likely to see closing numbers during June that are much lower than June 2021 and also lower than May 2022. The numbers get stronger as we move up the price ranges. Homes under $1 million are down 35% but homes over $2 million are down 7% compared to a year earlier. Normal sales comprise 99.5% of luxury homes in escrow, with only four pre-foreclosures and no lender owned home. # Homes Under Contract
CONTINUED ON BACK...
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by The Cromford Report exclusively for Walt Danley Realty and their clients. All other use is expressly forbidden. © 2021
SALES PRICING Due to relatively low volumes and a wide range of price points, the Northeast Valley luxury market can display a lot of volatility if measured monthly. We therefore prefer to measure price per sq. ft. over a longer period to identify trends more accurately. The twelve-month average currently stands at $453, up 28% from $353 in May 2021. The six-month average stands at $490, up 29% from $379 in May 2021 and the three-month average stands at $510, up 28% from $399 in May 2021. The strong upward pricing trend continues in full swing. However, with demand falling and supply rising, this will not continue forever. UNDER CONTRACT PRICING The average under contract price per square foot stands at $569, up from $560 last month and far higher than the $434 on June 1st, 2021. This month the under-contract pricing implies continued increases in pricing for June and July sales, but probably at a less frenetic pace.
Information contained in this report has been prepared by The Cromford Report exclusively for Walt Danley Realty and their clients. All other use is expressly forbidden. © 2021
Walt Danle y
Christie ’s international Real Estate M arket Data R e p ort
Arcadia
June, 2022 The number of active listings in Arcadia rose sharply again from 28 to 41 during May and is now equal to its level twelve months earlier. Closed sales came in at 17, down from 18 in May 2021 and about average for the month of May. Average price per sq. ft. was strong again last month. The twelve-month average has grown 31% from $478 to $626 over the last twelve months. The sixmonth moving average has risen 31% from $499 to $652, while the more volatile three-month moving average increased 32% from $524 to $693.
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley Realty and our clients. Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Arcadia - June 2022 Average Price per Square Foot for Closed Transactions the Last 17 Years $750 $650
12 Month Avg
$550 $450 $350 $250
Nov-21
May-22
May-21
Nov-20
May-20
Nov-19
May-19
Nov-18
May-18
Nov-17
May-17
Nov-16
May-16
Nov-15
Nov-14
May-15
Nov-13
May-14
Nov-12
May-13
Nov-11
May-12
Nov-10
May-11
Nov-09
May-10
Nov-08
May-09
Nov-07
May-08
May-07
Nov-06
May-06
Nov-05
May-05
$150
Number of Listings by Status for the Last Two Years 85
12 Month Avg
65 45 25
Active
Accepted Offers
22-May
22-Apr
22-Mar
22-Feb
22-Jan
21-Dec
21-Nov
21-Oct
21-Sep
21-Aug
21-Jul
21-Jun
21-May
21-Apr
21-Mar
21-Feb
21-Jan
20-Dec
20-Nov
20-Oct
20-Sep
20-Aug
20-Jul
20-Jun
5
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed within the entire month.
100% 95% 90% 85% 80% 75% 70% 65% 60%
Sales Price as a Percentage of Original List Price
Average Price 0
$1.0M
$2.0M
Active
<150 >150 Days on the Market
$4.0M
$3,878,436
Under contract <90
$3.0M
$3,512,621
>365
This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.
Sold - Last 12 Month
$2,465,355
The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Arcadia - June 2022 Market Activity by Price Range 25
23
21
20 15
13 10
9
10 5
1
No Active Inventory
0
<$750K
$0.75-$1.25M
Active
New This Month
4
3
2
1
$1.25-2M
$2M+
Offers Accepted This Month
Sold This month
Active listings were measured on the 15th of the previous month. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
No Active Inventory
$0.75-$1.25M
No Active Inventory
$700
$2M+
$300
<$750K
$0.75-$1.25M
Active
$517
$400
2.0
$507
$500
0.4
$566
$600
$435
$1.25-2M
$800
$665
<$750K
Average Price per Square Foot by Price Range
36
$770
24
$801
12
$531
0
$1.25-2M
Under contract
$2M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
The number of months it would take to sell all the currently active listings based on the rate of sales over the last 12 months assuming no new listings were added.
Seasonality
Dec
Nov
Oct
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Dec
Oct
Nov
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
0% Feb
0%
Dec
2%
0% Oct
2%
Nov
4%
2% Sep
4%
Jul
6%
4%
Aug
6%
Jun
8%
6%
Apr
8%
May
10%
8%
Mar
12%
10%
Jan
12%
10%
Feb
12%
Feb
Closed Transactions by Month
Accepted Offers by Month
New Listings by Month
The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Arcadia - June 2022 Price per Square Foot
Based on size of the home (sold over the last twelve months) $750 $700 $650
$679
$600
$627
$620
$618
$550
$595
$500 $450 $400 $350 $300
$309
$250
<2,500
2,501-3,500
3,501-5,000
5,001-7,500
7,501-10,000
10,000+
Price per Square Foot
Based on the year built (sold over the last twelve months)
$800 $750
$740
$700
$709
$650 $600
$641
$632
$550
$552
$531
$500 $450
<1970
1970s
$512
1980s
1990s
2000s
2010s
2020s
Price per Square Foot By Type
$850
$647
$550
$687
$600
$718
$650
$638
$700
$707
$750
$788
$800
$500 Traditional
Short Sale
No Active Inventory
REO
Active
Closed - Last Month
Active- 12 Mo Avg
Sold - 12-Mo Avg
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Walt Danle y
Christie ’s international Real Estate M arket Data R e p ort
Biltmore June, 2022
The supply of active listings rose from 12 to 19 during May, down from 30 this time last year and still quite low. There were only four closed sales during May, down from 15 in May 2021 and the lowest sales count for May since 2011. Pricing continues to rise, though at a slower pace, and the twelve-month average has moved up 26% from $376 to $472 per sq. ft. over the last year. The six-month average is up 22% from $410 to $500, and the volatile three-month average has seen a 17% increase from $433 to $506.
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley Realty and our clients. Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Biltmore - June 2022 Average Price per Square Foot for Closed Transactions the Last 17 Years $750 $650
12 Month Avg
$550 $450 $350 $250
Nov-21
May-22
Nov-20
May-21
Nov-19
May-20
Nov-18
May-19
Nov-17
May-18
Nov-16
May-17
Nov-15
May-16
Nov-14
May-15
May-14
Nov-13
May-13
Nov-12
May-12
Nov-11
May-11
Nov-10
May-10
Nov-09
May-09
Nov-08
May-08
Nov-07
May-07
Nov-06
May-06
Nov-05
May-05
$150
Number of Listings by Status for the Last Two Years 55
12 Month Avg
45 35 25 15
Active
Accepted Offers
22-May
22-Apr
22-Mar
22-Feb
22-Jan
21-Dec
21-Nov
21-Oct
21-Sep
21-Aug
21-Jul
21-Jun
21-May
21-Apr
21-Mar
21-Feb
21-Jan
20-Dec
20-Nov
20-Oct
20-Sep
20-Aug
20-Jul
20-Jun
5
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed within the entire month.
100% 95% 90% 85% 80% 75% 70% 65% 60%
Sales Price as a Percentage of Original List Price
Average Price 0
$500K
$1.0M
Active
Under contract
<90
<150 >150 Days on the Market
>365
This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.
Sold - Last 12 Month
$1.5M
$2.0M
$2.5M
$2,200,421
$826,290
$956,215
The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Biltmore - June 2022 Market Activity by Price Range 8
7
7 6
6
5 4
4
4
4
4
3 2
2
2
1
0
< $500K
$500K-$1M
Active
1
$1M-1.5M
New This Month
2
2
1
$1.5-2M
Offers Accepted This Month
$2M+ Sold This month
Active listings were measured on the 15th of the previous month. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply 0
12
24
Average Price per Square Foot by Price Range
36
$950
0.7
$500K-$1M
0.3
$650
$1M-1.5M
0.4
$450
$150
5.5
< $500K
$500K-$1M Active
$1M-1.5M
$535
$494
$463
$612 $435
$586
$479
$401
$297
$2M+
$250
$318
$350
1.1
$422
$550
$678
$750
$303
$1.5-2M
$912
$850
< $500K
$1.5-2M
Under contract
$2M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
The number of months it would take to sell all the currently active listings based on the rate of sales over the last 12 months assuming no new listings were added.
Seasonality
Dec
Nov
Oct
Sep
Jul
Aug
Jun
May
Apr
Mar
Jan
Dec
Nov
Oct
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
0%
Feb
0%
Dec
2%
0% Oct
2%
Nov
4%
2% Sep
4%
Jul
6%
4%
Aug
6%
Jun
8%
6%
Apr
8%
May
10%
8%
Mar
12%
10%
Jan
12%
10%
Feb
12%
Feb
Closed Transactions by Month
Accepted Offers by Month
New Listings by Month
The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Biltmore - June 2022 Price per Square Foot
Based on size of the home (sold over the last twelve months) $500
$484
$471
$450
$446
$433
$453
$400
$350
$300
$356
<2,000
2,001-3,000
3,001-4,000
4,001-5,000
5,001-7,500
7,500+
Price per Square Foot
Based on the year built (sold over the last twelve months) $750 $700
$702
$650 $600 $550 $500
$523
$450 $400
$421
$350 $300
<1980
$390
$391
1980s
1990s
2000s
2010s
Price per Square Foot By Type
$1,000
$687
$647
$400
$638
$600
$788 $707 $718
$800
$200 No Active Inventory
$0 Traditional
Short Sale
REO
Active
Closed - Last Month
Active- 12 Mo Avg
Sold - 12-Mo Avg
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Walt Danle y
Christie ’s international Real Estate M arket Data R e p ort
Fountain Hills June, 2022
The supply of active listings rose from 69 to 102 during May. This total is up 20% from the 85 that we saw on June 1st, 2021. There were 40 closed sales during May, down 32% from 59 in May 2021. Pricing continued to rise. The twelve-month average price per sq. ft. came in at $341 in May, up 24% from $275 a year earlier. The six-month average rose from $296 to $366 over the last year while the volatile three-month average was $391 per sq. ft., up 37% from $285 a year earlier.
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley Realty and our clients. Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Fountain Hills - June 2022 Average Price per Square Foot for Closed Transactions the Last 17 Years $450 $400
12 Month Avg
$350 $300 $250 $200
May-05 Nov-05 May-06 Nov-06 May-07 Nov-07 May-08 Nov-08 May-09 Nov-09 May-10 Nov-10 May-11 Nov-11 May-12 Nov-12 May-13 Nov-13 May-14 Nov-14 May-15 Nov-15 May-16 Nov-16 May-17 Nov-17 May-18 Nov-18 May-19 Nov-19 May-20 Nov-20 May-21 Nov-21 May-22
$150
Number of Listings by Status for the Last Two Years
Active
Accepted Offers
22-May
Apr-22
Mar-22
22-Feb
22-Jan
21-Dec
21-Nov
21-Oct
21-Sep
21-Aug
21-Jul
21-Jun
21-May
21-Apr
21-Mar
21-Feb
21-Jan
20-Dec
20-Nov
20-Oct
20-Sep
20-Aug
20-Jul
20-Jun
140 120 100 80 60 40 20
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed within the entire month.
100% 95% 90% 85% 80% 75% 70% 65% 60%
Sales Price as a Percentage of Original List Price
Average Price 0
$500K
$1.0M
Active
$1,379,366
Under contract <90
<150 >150 Days on the Market
>365
This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.
Sold - Last 12 Month
$1.5M
$1,302,696
$958,137
The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Fountain Hills - June 2022 Market Activity by Price Range 50
46 40
40 30
25
25
20
18
16
16 9
10 0
$500K-$1M
9
5
3
$1-$1.5M
Active
3
7
3
$1.5-2M
New This Month
4
4
4
3
$2-3M
$3M+
Offers Accepted This Month
Sold This month
Active listings were measured on the 15th of the previous month. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply 24
Average Price per Square Foot by Price Range
36
$650
$250
$3M+
9.0
$500K-$1M
$1-$1.5M
Active
$465
$1.5-2M
$411
$540
$492
$200
$380
$300
$415
$350
3.5
$386
$2-3M
$400
$352
1.8
$450
$379
$1.5-2M
$500
$310
2.1
$344
$1-$1.5M
$572
$550
$2-3M
Under contract
$590
$600
0.7
$329
$500K-$1M
12
$603
0
$3M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
The number of months it would take to sell all the currently active listings based on the rate of sales over the last 12 months assuming no new listings were added.
Seasonality Closed Transactions by Month
Accepted Offers by Month
14%
12%
12%
10% 6%
6%
4%
4% 2%
2%
Dec
Nov
Oct
Sep
Dec
Nov
Oct
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Jul
0%
0% Feb
Dec
Oct
Nov
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Feb
0%
Aug
2%
10% 8%
Jun
4%
8%
Apr
6%
May
8%
Mar
10%
Jan
12%
Feb
New Listings by Month
The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Fountain Hills - June 2022 Price per Square Foot
Based on size of the home (sold over the last twelve months) $400
$368 $350
$346
$344
$334
$334
$300
No Sales <3,000
3,001-4,000
4,001-5,000
5,001-7,500
7,501-10,000
10,000+
Price per Square Foot
Based on the year built (sold over the last twelve months) $550 $500
$497
$450
$422
$400 $350 $300 $250
$362 $329
$315
$305 <1980
1980s
1990s
2000s
2010s
2020s
Price per Square Foot
$289
$322
$250
$292
$383
$431
$300
$341
$350
$408
$400
$314
By Type
$450
$200 Traditional
Short Sale
REO
Active
Closed - Last Month
Active- 12 Mo Avg
Sold - 12-Mo Avg
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Walt Danle y
Christie ’s international Real Estate M arket Data R e p ort
North Scottsdale 85255, 85262, 85266
June, 2022
On June 1st, we had 412 active listings, down 7% from 442 a year ago. Closed sales totaled 185 during May, down 31% from 267 in May 2021. Prices continued to rise. The twelve-month moving average $/ SF came in at $470, up 29% from $365 in May 2021, while the six-month average rose from $397 to $510. The volatile three-month average was $532 having been $420 a year earlier, an increase of 27%.
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley Realty and our clients. Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
North Scottsdale - June 2022 Average Price per Square Foot for Closed Transactions the Last 17 Years
$600 $550 $500 $450 $400 $350 $300 $250 $200
Nov-21
May-22
Nov-20
May-21
Nov-19
May-20
Nov-18
May-19
Nov-17
May-18
Nov-16
May-17
Nov-15
May-16
May-15
Nov-14
May-14
Nov-13
May-13
Nov-12
May-12
Nov-11
May-11
Nov-10
May-10
Nov-09
May-09
Nov-08
May-08
Nov-07
May-07
Nov-06
Nov-05
May-06
May-05
12 Month Avg
Number of Listings by Status for the Last Two Years
900 700 500 300
Active
Accepted Offers
22-May
22-Apr
Mar-22
22-Feb
22-Jan
21-Dec
21-Nov
21-Oct
21-Sep
21-Aug
21-Jul
21-Jun
21-May
21-Apr
21-Mar
21-Feb
21-Jan
20-Dec
20-Nov
20-Oct
20-Sep
20-Aug
20-Jul
20-Jun
100
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed within the entire month.
100% 95% 90% 85% 80% 75% 70% 65% 60%
Sales Price as a Percentage of Original List Price
Average Price 0
$1.0M
$2.0M
Active
Under contract
<90
<150 >150 Days on the Market
>365
This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.
Sold - Last 12 Month
$3.0M
$4.0M
$3,491,944
$2,378,616
$1,689,969
The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
North Scottsdale - June 2022 Market Activity by Price Range 109
110 90
68
70
51
46
50
53
42
48
45
42
53
42
47 30
30 10
$500K-$1M
$1-$1.5M
Active
27
$2-3M
Offers Accepted This Month
35
28
27
18
$1.5-2M
New This Month
44
40
$3M+ Sold This month
Active listings were measured on the 15th of the previous month. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply 12
24
Average Price per Square Foot by Price Range
36
$1,000
0.8
$1-$1.5M
1.0
$700
$1.5-2M
1.4
$500
$2-3M
1.9
$500K-$1M
$1-$1.5M
Active
$1.5-2M
$509
$614 $477
$431
$487
$383
$200
$422
$358
$300
5.0
$342
$400
$421
$600
$592
$799
$800
$350
$3M+
$965
$900
$500K-$1M
$2-3M
Under contract
$694
0
$3M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
The number of months it would take to sell all the currently active listings based on the rate of sales over the last 12 months assuming no new listings were added.
Seasonality Closed Transactions by Month
Accepted Offers by Month
12%
12%
10%
10%
8%
8%
6%
6%
4%
4%
2%
2%
Dec
Nov
Oct
Sep
Dec
Nov
Oct
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Aug
0%
0% Feb
Dec
Oct
Nov
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Feb
0%
Jul
2%
Jun
4%
May
6%
Apr
8%
Feb
10%
Mar
12%
Jan
New Listings by Month
The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
North Scottsdale - June 2022 Price per Square Foot
Based on size of the home (sold over the last twelve months) $800 $750
$774
$700 $650 $600 $550
$553
$559
5,001-7,500
7,501-10,000
$500
$488
$450 $400 $350
$401
$416
<3,000
3,001-4,000
4,001-5,000
10,000+
Price per Square Foot
Based on the year built (sold over the last twelve months) $600
$577
$550 $500
$470
$450 $400 $350
$425
$424
$422
1980s
1990s
2000s
$401 1970s
2010s
2020s
Price per Square Foot
Traditional
Short Sale
$0
$378
$311
$367 $0
$470
$667
$537
$800 $700 $600 $500 $400 $300 $200 $100 $0
$758
By Type
No Active Inventory
REO
Active
Closed - Last Month
Active- 12 Mo Avg
Sold - 12-Mo Avg
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Walt Danle y
Christie ’s international Real Estate M arket Data R e p ort
Paradise Valley June, 2022
Going against the general trend, supply in Paradise Valley dipped slightly during May, from 124 to 122 active listings as of the beginning of June 2022. This is down 26% from 164 at the same time last year. Closing counts came in at only 26 for May, a very modest number, especially compared with 57 in May 2021. Prices continued to advance at a quick pace and the twelve-month average price per square foot now stands at $672, up 37% from $489 in May 2021. The six-month average stands at $727, up 37% from $530 last year, while the three-month average came in at $765, up 42% from $537 in May 2021.
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley Realty and our clients. Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Paradise Valley - June 2022 Average Price per Square Foot for Closed Transactions the Last 17 Years $900 $800
12 Month Avg
$700 $600 $500 $400 $300
May-22
Nov-21
May-21
Nov-20
Nov-19
May-20
Nov-18
May-19
Nov-17
May-18
May-17
Nov-16
May-16
Nov-15
Nov-14
May-15
Nov-13
May-14
Nov-12
May-13
May-12
Nov-11
May-11
Nov-10
May-10
Nov-09
Nov-08
May-09
Nov-07
May-08
Nov-06
May-07
May-06
Nov-05
May-05
$200
Number of Listings by Status for the Last Two Years
255
12 Month Avg
205 155 105 55
Active
Accepted Offers
22-May
22-Apr
22-Mar
22-Feb
22-Jan
21-Dec
21-Nov
21-Oct
21-Sep
21-Aug
21-Jul
21-Jun
21-May
21-Apr
21-Mar
21-Feb
21-Jan
20-Dec
20-Nov
20-Oct
20-Sep
20-Aug
20-Jul
20-Jun
5
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed within the entire month.
Sales Price as a Percentage of Original List Price
Average Price 0
100% 95% 90% 85% 80% 75% 70% 65% 60%
$2.0M
$4.0M
Active
<150 >150 Days on the Market
>365
This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.
Sold - Last 12 Month
$8.0M
$7,452,768
Under contract
<90
$6.0M
$5,421,411
$3,854,589
The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Paradise Valley - June 2022 Market Activity by Price Range 58
60 50 40 30
18
20
11
10
1
0
1
2
1
<$1M
5
$1-$2M
Active
17
4
2
$2-3M
New This Month
12
8
11
$3-5M
Offers Accepted This Month
6
6
$5M+ Sold This month
Active listings were measured on the 15th of the previous month. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
$1,103
$950 $850
$550
$5M+
$450 $350
8.0
$250
$1-$2M
$2-3M
Active -
$615
1.6
$683
$3-5M
$526
1.1
$660
$650
$2-3M
$677
$750
$732
0.2
$1,050
$557
$1-$2M
$1,150
$607
0.0
Average Price per Square Foot by Price Range
36
$463
<$1M
24
$3-5M
Under contract -
$846
12
$994
0
$5M+
Sold - Last 12 Mo -
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
The number of months it would take to sell all the currently active listings based on the rate of sales over the last 12 months assuming no new listings were added.
Seasonality Closed Transactions by Month
Accepted Offers by Month
12%
12%
10%
10%
8%
8%
6%
6%
4%
4%
2%
2%
Dec
Nov
Oct
Sep
Dec
Nov
Oct
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Jul
0%
0% Feb
Dec
Oct
Nov
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Feb
0%
Aug
2%
Jun
4%
Apr
6%
May
8%
Mar
10%
Jan
12%
Feb
New Listings by Month
The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Paradise Valley - June 2022 Price per Square Foot
Based on size of the home (sold over the last twelve months) $800 $750 $700
$765
$700 $676
$650
$642
$642
3,501-5,000
5,001-7,000
$627
$600 $550
<3,500
7,001-9,000
9,001-12,000
12,000+
Price per Square Foot
Based on the year built (sold over the last twelve months) $950 $900
$923
$850 $800
$784
$750 $700 $650 $600
$647
$617
$585
$550 $500
<1970
1970s
1980s
$612
$615
1990s
2000s
2010s
2020s
Price per Square Foot By Type
$750 $650
$995
$664
$850
$780 $846
$950
$1,010
$1,050
$550
No Active Inventory
$450 Traditional
Short Sale
REO
Active
Closed - Last Month
Active- 12 Mo Avg
Sold - 12-Mo Avg
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Walt Danle y
Christie ’s international Real Estate M arket Data R e p ort
Scottsdale June, 2022
On June 1st, Scottsdale’s active listing counts was 918, a 32% increase on 693 at the beginning of May. This is up 21% from the same time last year. In May we counted 487 closed sales, down 17% from the 586 we saw in May 2021. Prices continued to rise quickly. The twelve-month moving average $/SF came in at $439, up 28% from $342 a year earlier. The six-month moving average stands at $474 up 28% from $370 a year ago and the more volatile three-month average was $496, up from $389 in May 2021, a rise of 28%.
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley Realty and our clients. Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Scottsdale - June 2022 Average Price per Square Foot for Closed Transactions the Last 17 Years $550 $500 $450 $400 $350 $300 $250 $200 $150
Nov-21
May-22
Nov-20
May-21
May-20
Nov-19
May-19
Nov-18
May-18
Nov-17
Nov-16
May-17
Nov-15
May-16
Nov-14
May-15
Nov-13
May-14
Nov-12
May-13
May-12
Nov-11
May-11
Nov-10
May-10
Nov-09
Nov-08
May-09
Nov-07
May-08
Nov-06
May-07
Nov-05
May-06
May-05
12 Month Avg
Number of Listings by Status for the Last Two Years 1200 1000 800 600 400
Active
Accepted Offers
22-May
22-Apr
Mar-22
22-Feb
22-Jan
21-Dec
21-Nov
21-Oct
21-Sep
21-Aug
21-Jul
21-Jun
21-May
21-Apr
21-Mar
21-Feb
21-Jan
20-Dec
20-Nov
20-Oct
20-Sep
20-Aug
20-Jul
20-Jun
200
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed within the entire month.
100% 95% 90% 85% 80% 75% 70% 65% 60%
Sales Price as a Percentage of Original List Price
Average Price 0
$500K
$1.0M
$1.5M
Active
Under contract
<90
<150 >150 Days on the Market
>365
This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.
Sold - Last 12 Month
$2.0M
$2.5M
$3.0M
$2,521,775
$1,862,366
$1,297,250
The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Scottsdale - June 2022 Market Activity by Price Range 306
320 270 220 170 120 70 20
226
224 173
150
131
128
119
116
93
80
$500K-$1M
$1-$1.5M
Active
64
75
56
73
$1.5-2M
New This Month
63
46
38
$2-3M
Offers Accepted This Month
46
34
$3M+ Sold This month
Active listings were measured on the 15th of the previous month. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply 0
24
Average Price per Square Foot by Price Range
36
$1,000
$3M+
$400 $300
4.5
$200
$500K-$1M
$1-$1.5M
Active
$691 $507
$500
$603
2.0
$443
$2-3M
$600
$502
1.6
$700
$395
$1.5-2M
$800
$442
1.3
$355
$1-$1.5M
$943
$900
0.6
$394
$500K-$1M
12
$1.5-2M
$2-3M
Under contract
$3M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
The number of months it would take to sell all the currently active listings based on the rate of sales over the last 12 months assuming no new listings were added.
Seasonality Closed Transactions by Month
Accepted Offers by Month
12%
12%
10%
10%
8%
8%
6%
6%
4%
4%
2%
2%
Dec
Nov
Oct
Sep
Dec
Nov
Oct
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Aug
0%
0% Feb
Dec
Oct
Nov
Sep
Jul
Aug
Jun
Apr
May
Mar
Jan
Feb
0%
Jul
2%
Jun
4%
Apr
6%
May
8%
Feb
10%
Mar
12%
Jan
New Listings by Month
The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Scottsdale - June 2022 Price per Square Foot
Based on size of the home (sold over the last twelve months) $800 $750
$774
$700 $650 $600 $550 $500 $450 $400 $350 $300
$555
$527 $479 $415
$394 <3,000
3,001-4,000
4,001-5,000
5,001-7,500
7,501-10,000
10,000+
Price per Square Foot
Based on the year built (sold over the last twelve months) $650
$625
$600 $550
$567
$500 $450
2010s
2020s
$150 $50 Traditional
Short Sale
$295
$250
$220
$350
$671
$450
2000s
By Type
$503
$550
1990s
Price per Square Foot
$750 $650
1980s
$414
1970s
$404
$329
<1970
$396
$445
$406
$438
$350
$415
$602
$400
$460
REO
Active
Closed - Last Month
Active- 12 Mo Avg
Sold - 12-Mo Avg
Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Information contained in this report has been prepared by Walt Danley Realty in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022