September Market Reports from Walt Danley by waltdanleycire

Walt Danle y

Christie ’s international Real Estate Northeast Valley – Luxury Market Summary – September 2021 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 There was a slight fall in the active listing count during the This Year 1,261 last month. On August 1st, we had 1,308 active listings over Last Year 1,919 $500,000 and by September 1st this had dropped to 1,261. However, the supply has held very steady around this level for the last five months. The latest total is the lowest we have recorded and is 34% below this time last year. The supply picture varies by price range. Homes between $500,000 and $1 million have seen supply fall 35% compared to a year ago, but the supply is now gently rising. Between $1 million and $2 million supply is down 41% and stable. Meanwhile listings over $2 million are down 26% and still falling. The top end still has better supply relative to demand than the ranges under $2 million. Almost all active listings are normal with just two pre-foreclosures and two lender-owned properties. Active Listings

DEMAND - SALES The level of closing activity across the luxury market remains This Year 697 high by historic standards, but is starting to decline, month to Last Year 662 month. August gave us 697 closed listings, up 5% from August 2020 and down from 728 in July. However, 697 is still a new record total for August. The higher up you look, the greater the annual increase in closed listings, with the range over $2 million up 37% from 60 last year to 82 in 2021. Sales

DEMAND – UNDER CONTRACT We can anticipate future sales by looking at homes under This Year 912 contract. We started September 2021 with 912 listings under Last Year 998 contract, which is down 9% from September 2020 and represents our fifth consecutive month of increasing buyer fatigue in 2021. We are likely to see closing numbers during September that are slightly lower than September 2020. The numbers get stronger as we move up the price ranges. Homes under $800,000 are down 20% but homes over $2 million are up from 143 last year to 189 in 2021. The buyer fatigue only seems to be affecting buyers with smaller budgets. Normal sales comprise 99.1% of luxury homes in escrow, with only six pre-foreclosures and two lender owned homes. # 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 $375, up 22% from $307 in August 2020. The six-month average stands at $402, up 28% from $314 in August 2020 and the three-month average stands at $405, up 29% from $315 in August 2020. This is the first fall in the quarterly average since June 2020. The appreciation rates have been accelerating over the last year but are starting to slow down now. UNDER CONTRACT PRICING The average under contract price per square foot stands at $462, up from $442 last month and far higher than the $343 in September 2020. Price rises slowed down during July and August, but it looks like September will resume a stronger upward trend.

Walt Danle y

Christie ’s international Real Estate M arket Data R e p ort

Arcadia

September, 2021 The number of active listings in Arcadia rose from 31 to 41 during August, but down from 94 twelve months ago. All listings are normal. Closed sales came in at 15, down from 18 in August 2020. Average price per sq. ft. was strong again last month. The twelve-month average has risen 22% from $423 to $517 over the last twelve months. The six-month moving average has risen from $439 to $561, while the more volatile three-month moving average surged 35% from $441 to $597.

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. © 2021

Arcadia - September 2021 Average Price per Square Foot for Closed Transactions the Last 17 Years $750 $650

6 Month Avg

$550 $450 $350 $250

Sep‐04 Mar‐05 Sep‐05 Mar‐06 Sep‐06 Mar‐07 Sep‐07 Mar‐08 Sep‐08 Mar‐09 Sep‐09 Mar‐10 Sep‐10 Mar‐11 Sep‐11 Mar‐12 Sep‐12 Mar‐13 Sep‐13 Mar‐14 Sep‐14 Mar‐15 Sep‐15 Mar‐16 Sep‐16 Mar‐17 Sep‐17 Mar‐18 Sep‐18 Mar‐19 Sep‐19 Mar‐20 Sep‐20 Mar‐21 Sep‐21

$150

Number of Listings by Status for the Last Two Years

Active

Accepted Offers

Sep‐21

Aug‐21

Jul‐21

Jun‐21

May‐21

Apr‐21

Mar‐21

Feb‐21

Jan‐21

Dec‐20

Nov‐20

Oct‐20

Sep‐20

Aug‐20

Jul‐20

Jun‐20

May‐20

Apr‐20

Mar‐20

Feb‐20

Jan‐20

Dec‐19

Nov‐19

Oct‐19

Sep‐19

120 100 80 60 40 20 0

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

>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

$4.0M

$3,321,995

Under contract

<90

$3.0M

$3,041,983

$2,169,287

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. © 2021

Arcadia - September 2021 Market Activity by Price Range 20

<$750K

New This Month

$0.75‐$1.25M

Active

$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 12 4.0

$2M+

$100 $0

1.7

$440

$570

$515

$410

$200

0.8

$1.25‐2M

$300

$342

$400

0.0

$563

$500

$563

$600

$397

$0.75‐$1.25M

$760

$700

<$750K

$573

$800

$671

Average Price per Square Foot by Price Range

<$750K

$0.75‐$1.25M Active

$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

Oct

Nov

Sep

Jul

Aug

Jun

Apr

May

Feb

Mar

Dec

Nov

Oct

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

0% Feb

Dec

0% Oct

Nov

2% Sep

Jul

Aug

Jun

Apr

May

10%

Mar

12%

10%

Jan

12%

10%

Feb

12%

Jan

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.

Arcadia - September 2021 Price per Square Foot

Based on size of the home (sold over the last twelve months) $550

$537 $523

$500

$518

$490

$484

$450

No Sales

$400

<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)

$700 $650 $600

$607

$550 $500 $450

$630

$518

$486

$445

$440

1970s

1980s

$400

$426

$350 $300 $250 $200

<1970

1990s

2000s

2010s

2020s

Price per Square Foot By Type

$700

$536 $373

$300

$100

$200

Active

$371 $280

$400

$500

$582

$600

Closed ‐ Last Active‐ 12 Mo Sold ‐ 12‐Mo Month Avg Avg

Traditional

Short Sale

REO

Walt Danle y

Christie ’s international Real Estate M arket Data R e p ort

Biltmore

September, 2021 The supply of active listings stands at 27 on September 1st, down from 33 this time last year, but up from 19 last month. There were only five closed sales during August, down from 13 in August 2020, and the joint lowest August sales count since 2013. Pricing continued to increase but more slowly than elsewhere. The twelve-month average has moved up 14% from $340 to $386 per sq. ft. over the last year. The six-month average is up from $358 to $416, and the volatile three-month average has seen a 10% increase from $362 to $399.

Biltmore - September 2021 Average Price per Square Foot for Closed Transactions the Last 17 Years $700 $600

6 Month Avg

$500 $400 $300 $200

$100

Number of Listings by Status for the Last Two Years 80 60 40 20

Active

Accepted Offers

Sep‐21

Aug‐21

Jul‐21

Jun‐21

May‐21

Apr‐21

Mar‐21

Feb‐21

Jan‐21

Dec‐20

Nov‐20

Oct‐20

Sep‐20

Aug‐20

Jul‐20

Jun‐20

May‐20

Apr‐20

Mar‐20

Feb‐20

Jan‐20

Dec‐19

Nov‐19

Oct‐19

Sep‐19

Closed

100% 95% 90% 85% 80% 75% 70% 65% 60%

Sales Price as a Percentage of Original List Price

Average Price ‐100000

$300K

$700K

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

$1.1M

$1.5M

$1,434,782

$728,062

$871,678

Biltmore - September 2021 Market Activity by Price Range 15

7 4

<$500K

$500K‐$1M

Active

$1M‐1.5M

New This Month

$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

Average Price per Square Foot by Price Range 12

$1.5‐2M

2.2

$2M+

<$500K

3.0

$500K‐$1M Active

$1M‐1.5M

$498

$494

$456

$410

$414

$372

$471

$200

$338

$400

1.1

$472

$1M‐1.5M

$600

$395

1.4

$264

$500K‐$1M

$800

$295

1.5

$291

<$500K

$1,000

$956

$1,200

$1.5‐2M

Under contract

$2M+

Sold ‐ Last 12 Mo

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

Aug

Jul

Jun

May

Apr

Mar

Jan

Dec

Nov

Oct

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Feb

Dec

0% Oct

Nov

2% Sep

Jul

Aug

Jun

Apr

May

10%

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.

Biltmore - September 2021 Price per Square Foot

Based on size of the home (sold over the last twelve months) $450 $400

$407 $377

$350 $300

$427

$437

$362

$316

$250 $200

<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) $650 $600

$589

$550 $500 $450

$474

$400 $350 $300

$363

$343

$316

$250 $200

<1980

1980s

1990s

2000s

2010s

Price per Square Foot By Type

$700

$536 $373

$300

$100

$200

Active

$371 $280

$400

$500

$582

$600

Closed ‐ Last Active‐ 12 Mo Sold ‐ 12‐Mo Month Avg Avg

Traditional

Short Sale

REO

Walt Danle y

Christie ’s international Real Estate M arket Data R e p ort

Fountain Hills September, 2021

The supply of active listings dropped from 95 to 79 during August, taking it to the lowest level we have ever recorded. This total also down 30% from the 113 that we saw on September 1st, 2020. There were 45 closed sales during August, up from 33 during August 2020 and the highest August sales total we have ever seen. The market in Fountain Hills is unusually unbalance with demand far exceeding the meager supply. Pricing is starting to slow down though still far above last year’s level. The twelve-month average price per sq. ft. came in at $288 in August, up from $248 a year earlier. The six-month average rose from $254 to $311 over the last year while the volatile threemonth average was $305 per sq. ft., up from $251 a year earlier.

Fountain Hills - September 2021 Average Price per Square Foot for Closed Transactions the Last 17 Years $350 6 Month Avg

$300 $250 $200

Sep‐04 Mar‐05 Sep‐05 Mar‐06 Sep‐06 Mar‐07 Sep‐07 Mar‐08 Sep‐08 Mar‐09 Sep‐09 Mar‐10 Sep‐10 Mar‐11 Sep‐11 Mar‐12 Sep‐12 Mar‐13 Sep‐13 Mar‐14 Sep‐14 Mar‐15 Sep‐15 Mar‐16 Sep‐16 Mar‐17 17‐Sep 18‐Mar 18‐Sep 19‐Mar 19‐Sep 20‐Mar 20‐Sep 21‐Mar 21‐Sep

$150

Number of Listings by Status for the Last Two Years 200 150 100 50

Active

Accepted Offers

Sep‐21

Aug‐21

Jul‐21

Jun‐21

May‐21

Apr‐21

Mar‐21

Feb‐21

Jan‐21

Dec‐20

Nov‐20

Oct‐20

Sep‐20

Aug‐20

Jul‐20

Jun‐20

May‐20

Apr‐20

Mar‐20

Feb‐20

Jan‐20

Dec‐19

Nov‐19

Oct‐19

Sep‐19

Closed

100% 95% 90% 85% 80% 75% 70% 65% 60%

Sales Price as a Percentage of Original List Price

Average Price ‐100000

$300K

$700K

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

$1.1M

$1.5M

$1,261,628

$1,035,864

$963,464

Fountain Hills - September 2021 Market Activity by Price Range 60

50 40

33 26

30 20

10 0

$500K‐$1M

10 3

$1‐$1.5M

Active

$1.5‐2M

New This Month

$2‐3M

Offers Accepted This Month

$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

Average Price per Square Foot by Price Range 12

$2‐3M

$560 $376

$375

$428

$332

$313

$307

$343

$200

$296

0.9

$259

$1.5‐2M

$300

$333

$400

1.1

$296

$1‐$1.5M

$437

$500

0.8

$290

$500K‐$1M

$600

$460

$100

2.7

$3M+

$500K‐$1M

5.1

$1‐$1.5M Active

$1.5‐2M

$2‐3M

Under contract

$3M+

Sold ‐ Last 12 Mo

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%

10% 6%

4% 2%

Dec

Nov

Oct

Sep

Dec

Nov

Oct

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Jul

0% Feb

Dec

Oct

Nov

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Feb

Aug

10% 8%

Jun

Apr

May

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.

Fountain Hills - September 2021 Price per Square Foot

Based on size of the home (sold over the last twelve months) $450

$437

$400 $350

$333

$300 $250 $200

$282

$280

$270

<3,000

$323

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) $450 $400

$378

$350 $300 $250 $200

$399

$303 $257

$270 $248

<1980

1980s

1990s

2000s

2010s

2020s

Price per Square Foot

$312

$291

$333

$327

$287

$291

$353

By Type

$400 $350 $300 $250 $200 $150 $100 $50 $0

Active

Closed ‐ Last Active‐ 12 Mo Sold ‐ 12‐Mo Month Avg Avg

Traditional

Short Sale

REO

Walt Danle y

Christie ’s international Real Estate M arket Data R e p ort

North Scottsdale 85255, 85262, 85266

September, 2021 On September 1st, we had 384 active listings, down from 399 last month and down 46% from a year ago. Closed sales totaled 169 during August, down 16% from 201 in August 2020. Price rises started to slow down a little. The twelve-month moving average $/SF came in at $391, up from $310 in August 2020, while the six-month average rose from $317 to $420. The volatile three-month average was $421 having been $319 a year earlier, an increase of 32%.

North Scottsdale - September 2021 Average Price per Square Foot for Closed Transactions the Last 17 Years $450 $400

6 Month Avg

$350 $300 $250 $200 Sep‐04 Mar‐05 Sep‐05 Mar‐06 Sep‐06 Mar‐07 Sep‐07 Mar‐08 Sep‐08 Mar‐09 Sep‐09 Mar‐10 Sep‐10 Mar‐11 Sep‐11 Mar‐12 Sep‐12 Mar‐13 Sep‐13 Mar‐14 Sep‐14 Mar‐15 Sep‐15 Mar‐16 Sep‐16 Mar‐17 Sep‐17 Mar‐18 Sep‐18 Mar‐19 Sep‐19 Mar‐20 Sep‐20 Mar‐21 Sep‐21

$150

Number of Listings by Status for the Last Two Years

1,000 800 600 400 200

Active

Accepted Offers

Sep‐21

Aug‐21

Jul‐21

Jun‐21

May‐21

Apr‐21

Mar‐21

Feb‐21

Jan‐21

Dec‐20

Nov‐20

Oct‐20

Sep‐20

Aug‐20

Jul‐20

Jun‐20

May‐20

Apr‐20

Mar‐20

Feb‐20

Jan‐20

Dec‐19

Nov‐19

Oct‐19

Sep‐19

Closed

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

$3.5M

$2,918,121

$1,865,826

$1,490,991

North Scottsdale - September 2021 Market Activity by Price Range 100

43 29

20 0

$500K‐$1M

$1‐$1.5M

Active

$1.5‐2M

New This Month

$2‐3M

Offers Accepted This Month

$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

$2‐3M

$100

$650

$848 $510

$449

$540

$429

$200

1.8

$383

$300

$360

$400

0.9

$423

$500

$326

$1.5‐2M

$600

$380

0.6

$700

$310

$1‐$1.5M

$800

$288

0.6

$309

$500K‐$1M

$900

$707

Average Price per Square Foot by Price Range

$3M+

$500K‐$1M

4.0

$1‐$1.5M Active

$1.5‐2M

$2‐3M

Under contract

$3M+

Sold ‐ Last 12 Mo

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%

10%

Dec

Nov

Oct

Sep

Dec

Nov

Oct

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Jul

0% Feb

Dec

Oct

Nov

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Feb

Aug

Jun

May

Apr

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.

North Scottsdale - September 2021 Price per Square Foot

Based on size of the home (sold over the last twelve months) $800 $750 $700 $650 $600 $550 $500 $450 $400 $350 $300 $250 $200

$730

$391

$332

$339

<3,000

3,001‐4,000

$495

$444

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) $600 $550

$536

$500 $450 $400

$401

$350 $300 $250 $200

$379

$353

$329

$339

1990s

2000s

No Sales

<1970

1970s

1980s

2010s

2020s

Price per Square Foot By Type

Active

$252

$100

$200

$392 $279

$300

$270

$420

$400

$533

$500

$357

$600

$629

$700

Closed ‐ Last Active‐ 12 Mo Sold ‐ 12‐Mo Month Avg Avg

Traditional

Short Sale

REO

Walt Danle y

Christie ’s international Real Estate M arket Data R e p ort

Paradise Valley September, 2021

Supply in Paradise Valley inched higher during August reaching 151 active listings as of the beginning of September. This is down 43% from 267 this time last year. Closing counts came in at 32 for August, which compares with 43 in August last year. It was also down from 41 last month. Prices continued to advance. The twelve-month average price per square foot stands at $528, up 21% from $435 in August 2020. The six-month average stands at $564, up 28% from $440 last year, while the three-month average came in at $591, up 36% from $435 in August 2020.

Paradise Valley - September 2021 Average Price per Square Foot for Closed Transactions the Last 17 Years

$650

6 Month Avg

$550 $450 $350 $250

$150

Number of Listings by Status for the Last Two Years

Active

Accepted Offers

Sep‐21

Aug‐21

Jul‐21

Jun‐21

May‐21

Apr‐21

Mar‐21

Feb‐21

Jan‐21

Dec‐20

Nov‐20

Oct‐20

Sep‐20

Aug‐20

Jul‐20

Jun‐20

May‐20

Apr‐20

Mar‐20

Feb‐20

Jan‐20

Dec‐19

Nov‐19

Oct‐19

Sep‐19

300 250 200 150 100 50 0

Closed

Sales Price as a Percentage of Original List Price

Average Price

100% 95% 90% 85% 80% 75% 70% 65% 60%

$1.0M

$2.0M

$3.0M

$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

$6.0M

$5,225,591

Under contract

<90

$5.0M

$4,097,548

$3,003,582

Paradise Valley - September 2021 Market Activity by Price Range 50

40 29

15 7

<$1M

$1‐$2M Active

$2‐3M

New This Month

$3‐5M

Offers Accepted This Month

$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

$3‐5M

2.4

$5M+

$1‐$2M Active

$2‐3M

$3‐5M

Under contract

$921 $739

$623

$538

$616

$889 <$1M

9.2

$515

1.3

$451

$2‐3M

$548

0.7

$395

$1‐$2M

$624

0.0

$485

$1,000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0

$320

<$1M

Average Price per Square Foot by Price Range

$5M+

Sold ‐ Last 12 Mo

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%

10%

Dec

Nov

Oct

Sep

Dec

Nov

Oct

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Aug

0% Feb

Dec

Oct

Nov

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Feb

Jul

Jun

May

Apr

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 - September 2021 Price per Square Foot

Based on size of the home (sold over the last twelve months) $600 $550

$583 $547

$541

$500

$513

$490

$450

$466

$400 $350 $300

<3,500

3,501‐5,000

5,001‐7,000

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) $750 $700

$694

$650

$644

$600 $550 $500 $450

$490

$479

<1970

1970s

$400

$453

$490

$480

1990s

2000s

$350 $300 $250 $200

1980s

2010s

2020s

Price per Square Foot By Type

$1,200 $995

$1,000

$517 $280 $591

$200 $0

$637 $641

$400

$535

$600

$758

$800

Active

Closed ‐ Last Active‐ 12 Mo Sold ‐ 12‐Mo Month Avg Avg

Traditional

Short Sale

REO

Walt Danle y

Christie ’s international Real Estate M arket Data R e p ort

Scottsdale

September, 2021 During August, Scottsdale’s active listing count fell slightly from 817 to 793. We now have 29% fewer active listings than this time last year, the same gap as last month. All except two are normal. In August we counted 462 closed sales, up 4% from the 443 we saw in August 2020. Prices started to slow their wild increases. The twelve-month moving average $/SF came in at $365, up 25% from $292 a year earlier. The six-month moving average stands at $390 up from $300 a year ago and the more volatile three-month average was $394, up from $299 in July 2020, a jump of 32%.

Scottsdale - September 2021 Average Price per Square Foot for Closed Transactions the Last 17 Years $450 $400

6 Month Avg

$150

Number of Listings by Status for the Last Two Years

Active

Accepted Offers

Sep‐21

Aug‐21

Jul‐21

Jun‐21

May‐21

Apr‐21

Mar‐21

Feb‐21

Jan‐21

Dec‐20

Nov‐20

Oct‐20

Sep‐20

Aug‐20

Jul‐20

Jun‐20

May‐20

Apr‐20

Mar‐20

Feb‐20

Jan‐20

Dec‐19

Nov‐19

Oct‐19

Sep‐19

1400 1200 1000 800 600 400 200 0

Closed

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

$2,017,813

$1,470,876

$1,189,155

Scottsdale - September 2021 Market Activity by Price Range 400

330

317

300

283

247

200 100

100 0

$500K‐$1M

104

$1‐$1.5M

Active

$1.5‐2M

New This Month

$2‐3M

Offers Accepted This Month

$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

$2‐3M

$100

$638

$826 $505

$450

$536

$383

$200

2.1

$450

$300

$363

$400

1.2

$425

$500

$332

$1.5‐2M

$600

$389

0.9

$700

$297

$1‐$1.5M

$800

$338

0.8

$329

$500K‐$1M

$900

$708

Average Price per Square Foot by Price Range

$3M+

$500K‐$1M

4.0

$1‐$1.5M Active

$1.5‐2M

$2‐3M

Under contract

$3M+

Sold ‐ Last 12 Mo

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%

10%

Dec

Nov

Oct

Sep

Dec

Nov

Oct

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Jul

0% Feb

Dec

Oct

Nov

Sep

Jul

Aug

Jun

Apr

May

Mar

Jan

Feb

Aug

Jun

Apr

May

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.

Scottsdale - September 2021 Price per Square Foot

Based on size of the home (sold over the last twelve months) $750 $700

$689

$650 $600 $550 $500 $450 $400 $350 $300 $250 $200

$469

$430 $379

$327

$333

<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

$521

$526

2010s

2020s

$450 $400 $350

$373

$354

$333

$300

$320

$327

1980s

1990s

$250 $200

<1970

1970s

2000s

Price per Square Foot By Type

$286

$247

$366

$492 $0

$100

$260

$200

$354

$300

$388

$400

$396

$500

$549

$600

Active

Closed ‐ Last Active‐ 12 Mo Sold ‐ 12‐Mo Month Avg Avg

Traditional

Short Sale

REO