October Luxury Market Statistics

Page 1

Walt Danley

s international Real Estate

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 September, the active listing count was higher than the month before, moving from 1,931 to 2,074. This suggests that last month’s decline was an aberration rather than a new trend. This is therefore not good news for sellers. We measured 1,308 at the same time last year, so supply is up 59% since then. All price ranges increased though the smallest annual increase of 14% can be found in the range between $500,000 and $600,000. The largest increase of 130% has occurred in the range between $1 million and $1.5 million. Distress remains very low. There are nine pre-foreclosures and two lender-owned homes among the active listings.

DEMAND - SALES

Closings remained subdued during September after dropping dramatically between June and July. We counted 451 closed listings during September, down 34% from September 2021. Sales between $500,000 and $800,000 dropped the most –down 51% compared to a year ago. In contrast, the range over $800,000 was down 20%.

DEMAND – UNDER CONTRACT

We can anticipate future sales by looking at homes under contract. We started October 2022 with 609 listings under contract, which is down 34% from 918 in September 2021. Demand was already weak last month and has deteriorated further since then. We are likely to see closing numbers during October that are far lower than October 2021, but much higher than pre-pandemic levels. The drop in demand has affected all price ranges, but none more so than the low-end. Homes under $800,000 are down 46% compared to last year, while those between $500,000 and $600,000 are down 64%. The rise in interest rates is affecting the low end of the luxury market much more than the high end, where a higher percentage of buyers pay cash.

Last Year 684 This Year 451 Sales 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. © 2022 Northeast Valley – Luxury Market Summary – October 2022 Paradise Valley Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com Last Year 1,308 This Year 2,074 Active Listings CONTINUED ON BACK... Last Year 918 This Year 609 # Homes Under Contract
Christie ’

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 $481, up 26% from $383 in September 2021. The six-month average stands at $504, up 24% from $406 in September 2021, but unchanged from the last two months. The three-month average stands at $482, down from the peak of $512 in June because pricing has weakened sharply over the past four months due to the steep drop in demand and rising supply. The strong upward pricing trend that has persisted for many years has reversed course and we expect the longerterm averages will shortly change direction like the three-month average did two months ago.

UNDER CONTRACT PRICING

The average under contract price per square foot stands at $539, down from $544 last month and the lowest reading since February. This reflects the significant weakening in price that has taken place between June and October and suggests that sales prices will fall again next month.

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. © 2022

Walt Danley

Christie ’ s international Real Estate

Market Data Report

Arcadia

October, 2022

The number of active listings in Arcadia edged up from 47 to 48 during September and is up 30% compared to October 1st, 2021. However, it remains low by long-term standards. Closed sales came in at ten, down from 24 in September 2021 and the lowest total for September since 2015. There is very little sign of price weakness in Arcadia and the twelve-month average has grown 26% from $533 to $672 over the last twelve months. The six-month moving average has risen 25% from $579 to $724, while the more volatile three-month moving average increased 21% from $620 to $753.

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.

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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Average Price per Square Foot for Closed Transactions the Last 17 Years

that

Number of Listings by Status for the Last Two Years

Accepted Offers Closed

in the

and the number

as of the 15th of the previous month. It also shows the number of

that were

within the entire month.

Sales Price as a Percentage of Original List Price Average Price

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.

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.

$100 $200 $300 $400 $500 $600 $700 $800 $900 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 Mar-22 Sep-22 12 Months Avg 0 10 20 30 40 50 60 70 20-Oct 20-Nov 20-Dec 21-Jan 21-Feb 21-Mar 21-Apr 21-May 21-Jun 21-Jul 21-Aug 21-Sep 21-Oct 21-Nov 21-Dec 22-Jan 22-Feb 22-Mar 22-Apr 22-May Jun-22 22-Jul 22-Aug Sep-22 Active
60% 65% 70% 75% 80% 85% 90% 95% 100% <90 <150 >150 >365 Days on the Market $3,510,208 $3,611,267 $2,553,494 0 $1.0M $2.0M $3.0M $4.0M Active Under contract Sold - Last 12 Months
This graph shows the number of homes that were active
area
offers
were accepted
of transactions
closed
Arcadia - October 2022 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Market Activity by Price Range

Inventory - Number of Months Supply

Average Price per Square Foot by Price Range

Note: The

The

New Listings by Month

Accepted Offers by Month

Closed Transactions by Month

8 30 No Active Inventory 3 10 2 9 2 3 5 0 5 10 15 20 25 30 35 <$750K $0.75-$1.25M $1.25-2M $2M+ Active New This Month Offers Accepted This Month Sold This month No Sales No Sales 1.9 3.0 0 12 24 <$750K $0.75-$1.25M $1.25-2M $2M+ $625 $844 $675 $818 $391 $501 $572 $710 $200 $300 $400 $500 $600 $700 $800 $900 <$750K $0.75-$1.25M $1.25-2M $2M+ Active Under contract Sold - Last 12 Mo 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Seasonality
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.
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. Figures for Active and Under Contract were compiled on the 15th of the previous month.
“Under Contract” price is the list price, not the contract price.
contract price is not revealed until the transaction closes. The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month. Arcadia - October 2022 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Price per Square Foot

Price per Square Foot

per Square Foot

Arcadia - October 2022 $597 $660 $704 $694 $636 $309 $250 $300 $350 $400 $450 $500 $550 $600 $650 $700 $750 <2,500 2,501-3,500 3,501-5,000 5,001-7,500 7,501-10,000 10,000+
Based on size of the home (sold over the last twelve months) $643 $583 $571 $563 $668 $808 $817 $450 $500 $550 $600 $650 $700 $750 $800 $850 <1970 1970s 1980s 1990s 2000s 2010s 2020s
Based on the year built (sold over the last twelve months) $813 $730 $791 $687$672 $674 $500 $550 $600 $650 $700 $750 $800 $850 Traditional Short Sale REO Active Closed - Last Month Active- 12 Mo Avg Sold - 12-Mo Avg No Active Invenotry Price
By Type 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Walt Danley Christie ’ s international Real Estate

Market Data Report

Biltmore

October, 2022

The supply of active listings rose modestly stood at 18 on October 1st, up one since September 1st and down from 25 twelve months ago. This remains very low compared to long-term measurements. There were seven closed sales during September, down from nine in September 2021. Pricing is stable in the Biltmore, showing little sign of weakness yet and the twelve-month average has moved up 25% from $402 to $501 per sq. ft. over the last year. The six-month average is up 18% from $438 to $519, and the volatile three-month average has seen an 18% increase from $439 to $517.

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

October 2022

Average Price per Square Foot for Closed Transactions the Last 17 Years

Number of Listings by Status for the Last Two Years

Sales Price as a Percentage of Original List Price

Average Price

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.

The average list price of Active listings is measured the 15th of each month.

The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction

$100 $200 $300 $400 $500 $600 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 Mar-22 Sep-22 12 Months Avg 5 10 15 20 25 30 35 40 20-Oct 20-Nov 20-Dec 21-Jan 21-Feb 21-Mar 21-Apr 21-May 21-Jun 21-Jul 21-Aug 21-Sep 21-Oct 21-Nov 21-Dec 22-Jan 22-Feb 22-Mar 22-Apr 22-May 22-Jun 22-Jul 22-Aug 22-Sep Active Accepted Offers Closed 60% 65% 70% 75% 80% 85% 90% 95% 100% <90 <150 >150 >365 Days on the Market $2,042,723 $1,337,091 $966,518 0 $500K $1.0M $1.5M $2.0M $2.5M Active Under contract Sold - Last 12 Months 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.
Note:
closes.
-
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Biltmore - October 2022

Market Activity by Price Range

for the

- Number of Months Supply

Average Price per Square Foot by Price Range

The number

Listings by Month

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.

Seasonality

Offers by Month Closed Transactions by Month

5 3 5 6 3 1 3 1 3 4 1 4 1 10 3 1 4 1 1 0 2 4 6 8 10 12 <$500K $500K-$1M $1M-1.5M $1.5-2M $2M+ Active New This Month Offers Accepted This Month Sold This month 1.0 1.2 3.2 6.5 0 12 24 <$500K $500K-$1M $1M-1.5M $1.5-2M $2M+ No Sales $318 $545 $678 $870 $328 $467 $456 $636 $534 $299 $420 $472 $520 $558 $100 $200 $300 $400 $500 $600 $700 $800 $900 <$500K $500K-$1M $1M-1.5M $1.5-2M $2M+ Active Under contract Sold - Last 12 Mo 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
New
Accepted
Inventory
Active listings were measured on the 15th of the previous month. The numbers for New This Month, Accepted Offers and Sold represent the quantities
entire previous month.
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.
The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Price per Square Foot

Price per Square Foot

per Square Foot

$725 $498 $684 $451 $200 $300 $400 $500 $600 $700 $800 Traditional Short Sale REO Active Closed - Last Month Active- 12 Mo Avg Sold - 12-Mo Avg No Active Inventory No Active Invenotry Price
By Type Biltmore - October 2022 $365 $524 $501 $449 $463 $453 $300 $350 $400 $450 $500 $550 <2,000 2,001-3,000 3,001-4,000 4,001-5,000 5,001-7,500 7,500+
Based on size of the home (sold over the last twelve months) $473 $409 $415 $531 $642 $300 $350 $400 $450 $500 $550 $600 $650 $700 <1980 1980s 1990s 2000s 2010s
Based on the year built (sold over the last twelve months) 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Walt Danley Christie ’ s international Real Estate

Market Data Report

Fountain Hills October, 2022

The supply of active listings fell from 125 to 123 during September, but this total is up 60% from the 77 that we saw on October 1st, 2021. There were 23 closed sales during September, down from 56 in September 2021 and far fewer than we have got used to. Pricing continued to rise with little sign of the weakness we saw in many other locations. The twelve-month average price per sq. ft. came in at $374 in September, up 27% from $295 a year earlier. The six-month average rose from $314 to $405 over the last year while the volatile three-month average was $418 per sq. ft., up 34% from $311 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

other use is expressly

2022

contained in this report has been prepared by Walt
Danley Realty
in
conjunction with The Cromford Report exclusively
for WDR and their clients. All
forbidden. ©

Fountain Hills

October 2022

Average Price per Square Foot for Closed Transactions the Last 17 Years

Number of Listings by Status for the Last Two Years

This

graph shows the

Sales Price as a Percentage of Original List Price

illustrates the

of pricing

from the beginning. The longer the property sits on the market, the steeper the

of the 15th of the previous

It also shows the number of

Average Price

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

15 35 55 75 95 115 20-Oct 20-Nov 20-Dec 21-Jan 21-Feb 21-Mar 21-Apr 21-May 21-Jun 21-Jul 21-Aug 21-Sep 21-Oct 21-Nov 21-Dec 22-Jan 22-Feb Mar-22 Apr-22 22-May 22-Jun 22-Jul 22-Aug 22-Sep Active Accepted Offers Closed $100 $150 $200 $250 $300 $350 $400 $450 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 Mar-22 Sep-22 12 Months Avg 60% 65% 70% 75% 80% 85% 90% 95% 100% <90 <150 >150 >365 Days on the Market $1,312,199 $1,657,242 $1,016,556 0 $500K $1.0M $1.5M $2.0M Active Under contract Sold - Last 12 Months This
number of homes that were active in the area as
month.
offers that were accepted and the number of transactions that were closed within the entire month.
graph
importance
your home properly
discount.
closes.
-
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Hills

Market Activity by Price Range

Inventory - Number of Months Supply

by

Average Price per Square Foot by Price Range

on the 15th of the previous month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is

Figures for Active and Under Contract were

revealed until the

by Month

Transactions by Month

57 21 13 11 6 20 7 2 4 20 4 2 3 15 1 2 3 2 0 10 20 30 40 50 60 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ Active New This Month Offers Accepted This Month Sold This month 1.9 2.9 4.6 4.4 7.2 0 12 24 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ $332 $385 $452 $567 $604 $328 $366 $411 $540 $634 $328 $373 $397 $443 $645 $200 $250 $300 $350 $400 $450 $500 $550 $600 $650 $700 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ Active Under contract Sold - Last 12 Mo 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% 14% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Seasonality New Listings
Month Accepted Offers
Closed
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.
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.
compiled
not
transaction closes. The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month. Fountain
- October 2022
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Price per Square Foot

Price per Square Foot

per Square Foot

$427 $416 $413 $321 $293 $371 $292 $289 $200 $250 $300 $350 $400 $450 Traditional Short Sale REO Active Closed - Last Month Active- 12 Mo Avg Sold - 12-Mo Avg Price
By Type Fountain Hills - October 2022 $312 $326 $353 $393 $537 $558 $200 $250 $300 $350 $400 $450 $500 $550 $600 <1980 1980s 1990s 2000s 2010s 2020s $349 $385 $427 $401 $339 $250 $300 $350 $400 $450 <3,000 3,001-4,000 4,001-5,000 5,001-7,500 7,501-10,000 10,000+ No Sales
Based on size of the home (sold over the last twelve months)
Based on the year built (sold over the last twelve months) 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Walt Danley Christie ’ s international Real Estate

Market Data Report

North Scottsdale 85255, 85262, 85266

October, 2022

On October 1st, we had 607 active listings, up from 534 last month and up 48% from 361 a year ago. Closed sales totaled 89 during September, down 46% from 164 in September 2021 and the lowest September total since 2014. Prices showed their first sign of weakening. The twelve-month moving average $/SF came in at $506, up 26% from $400 in September 2021, while the six-month average rose from $422 to $530. The volatile three-month average was $514, having been $419 a year earlier, an increase of 23%. However, it is down from $541 last month and $550 in July.

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

Office: 480.909.4577

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
WaltDanley.com

Average Price per Square Foot for Closed Transactions the Last 17 Years

Number of Listings by Status for the Last Two Years

Active Accepted Offers Closed

Sales Price as a Percentage of Original List Price

Average Price

This graph illustrates the importance of pricing your home properly from the beginning. The longer the

sits on the market, the steeper the

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.

50 150 250 350 450 550 650 20-Oct 20-Nov 20-Dec 21-Jan 21-Feb 21-Mar 21-Apr 21-May 21-Jun 21-Jul 21-Aug 21-Sep 21-Oct 21-Nov 21-Dec 22-Jan 22-Feb Mar-22 22-Apr 22-May 22-Jun 22-Jul 22-Aug 22-Sep
$150 $200 $250 $300 $350 $400 $450 $500 $550 $600 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 Mar-22 Sep-22 12 Months Avg 60% 65% 70% 75% 80% 85% 90% 95% 100% <90 <150 >150 >365 Days on the Market $2,671,540 $1,966,088 $1,809,776 0 $500K $1.0M $1.5M $2.0M $2.5M $3.0M Active Under contract Sold - Last 12 Months 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.
property
discount.
North Scottsdale - October 2022
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Scottsdale

October 2022

Market Activity by Price Range

Inventory - Number of Months Supply

by

Average Price per Square Foot by Price Range

Figures for Active

on the 15th of the previous

Note: The “Under

price is the

the

price. The

by Month

Transactions by Month

115 112 69 89 130 37 51 36 40 31 39 30 17 13 11 28 27 12 11 11 0 20 40 60 80 100 120 140 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ Active New This Month Offers Accepted This Month Sold This month 2.4 2.8 2.8 4.2 5.7 0 12 24 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ $349 $415 $459 $610 $928 $331 $417 $517 $588 $831 $357 $404 $451 $534 $725 $100 $200 $300 $400 $500 $600 $700 $800 $900 $1,000 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ Active Under contract Sold - Last 12 Mo 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Seasonality New Listings
Month Accepted Offers
Closed
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.
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.
and Under Contract were compiled
month.
Contract”
list price, not
contract
contract price is not revealed until the transaction closes. The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month. North
-
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Price per Square Foot

Price per Square Foot

per Square Foot

$658 $385 $458$495 $690 $354 $507 $331 $150 $250 $350 $450 $550 $650 $750 Traditional Short Sale REO Active Closed - Last Month Active- 12 Mo Avg Sold - 12-Mo Avg Price
By Type North Scottsdale - October 2022 $422 $447 $538 $596 $624 $884 $300 $350 $400 $450 $500 $550 $600 $650 $700 $750 $800 $850 $900 <3,000 3,001-4,000 4,001-5,000 5,001-7,500 7,501-10,000 10,000+
Based on size of the home (sold over the last twelve months) $454 $463 $449 $507 $595 $350 $400 $450 $500 $550 $600 1980s 1990s 2000s 2010s 2020s
Based on the year built (sold over the last twelve months) 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Walt Danley Christie ’ s international Real Estate

Market Data Report

Paradise Valley

October, 2022

Supply in Paradise Valley rose during September, from 141 to 155 active listings as of the beginning of October 2022. This is down 11% from 175 at the same time last year and still well below the long-term average. Closing counts came in at 19 for September, down from 21 last year and the lowest September count we have seen since 2010. Prices are starting to weaken although the twelve-month average price per square foot now stands at $716, up 29% from $555 in September 2021. The six-month average stands at $745, up 30% from $575 last year, but little changed over the last three months. The three-month average came in at $721, up 25% from $594 in September 2021, but well down from the peak of $769 achieved in June. The three-month average has declined for three months now.

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

Office: 480.909.4577

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
WaltDanley.com

Paradise Valley - October 2022

Average Price per Square Foot for Closed Transactions the Last 17 Years

Number of Listings by Status for the Last Two Years

Price as a Percentage of

List Price

The

Average Price

$150 $250 $350 $450 $550 $650 $750 $850 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 Mar-22 Sep-22 12 Months Avg 60% 65% 70% 75% 80% 85% 90% 95% 100% <90 <150 >150 >365 Days on the Market $6,560,182 $5,570,134 $4,094,798 0 $2.0M $4.0M $6.0M Active Under contract Sold - Last 12 Months 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. 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.
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.
Sales
Original
0 50 100 150 200 20-Oct 20-Nov 20-Dec 21-Jan 21-Feb 21-Mar 21-Apr 21-May 21-Jun 21-Jul 21-Aug 21-Sep 21-Oct 21-Nov 21-Dec 22-Jan 22-Feb 22-Mar 22-Apr 22-May Jun-22 22-Jul 22-Aug 22-Sep Active Accepted Offers Closed 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Valley

October 2022

Market Activity by Price Range

- Number of Months Supply

Average Price per Square Foot by Price Range

Listings by Month

Offers by Month Closed Transactions by Month

3 20 40 56 No Active Inventory 4 8 13 12 2 5 3 5 1 5 4 4 0 10 20 30 40 50 60 <$1M $1-$2M $2-3M $3-5M $5M+ Active New This Month Offers Accepted This Month Sold This month 0.9 2.6 3.9 7.8 0 12 24 <$1M $1-$2M $2-3M $3-5M $5M+ No Sales $606 $728 $667 $1,065 $654 $624 $702 $1,054 $576 $540 $638 $873 $250 $350 $450 $550 $650 $750 $850 $950 $1,050 $1,150 $1-$2M $2-3M $3-5M $5M+ Active - Under contract - Sold - Last 12 Mo0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Seasonality New
Accepted
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.
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. 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 charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month. Paradise
-
Inventory
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Price per Square Foot

Price per Square Foot

Price per Square Foot

$930 $550 $727 $920 $701$700 $250 $350 $450 $550 $650 $750 $850 $950 $1,050 Traditional Short Sale REO Active Closed - Last Month Active- 12 Mo Avg Sold - 12-Mo Avg No Active Inventory
By Type Paradise Valley - October 2022 $758 $645 $682 $700 $705 $870 $500 $550 $600 $650 $700 $750 $800 $850 $900 <3,500 3,501-5,000 5,001-7,000 7,001-9,000 9,001-12,000 12,000+
Based on size of the home (sold over the last twelve months) $671 $627 $614 $613 $679 $877 $948 $500 $550 $600 $650 $700 $750 $800 $850 $900 $950 <1970 1970s 1980s 1990s 2000s 2010s 2020s
Based on the year built (sold over the last twelve months) 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Walt Danley Christie ’ s international Real Estate

Market Data Report

Scottsdale

October, 2022

On October 1st, Scottsdale’s active listing counts was 1,301, an 8% increase from 1,202 at the beginning of September. This is up 64% from the same time last year. In September we counted 289 closed sales, down 36% from the 455 we saw in September 2021. Although prices are still far above last year, the last three months have shown increasing price weakness. The twelve-month moving average $/SF came in at $467, up 25% from $373 a year earlier. The six-month moving average stands at $494 up 25% from $396 a year ago and the more volatile three-month average was $472, up from $395 in September 2021, a rise of 19%, but down from $492 last month.

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.

Office:

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
480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

Average Price per Square Foot for Closed Transactions the Last 17 Years

Number of Listings by Status for the Last Two Years

Accepted Offers Closed

Sales Price as a Percentage of Original List Price

Average Price

$150 $200 $250 $300 $350 $400 $450 $500 $550 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 Mar-22 Sep-22 12 Months Avg 60% 65% 70% 75% 80% 85% 90% 95% 100% <90 <150 >150 >365 Days on the Market $1,929,277 $1,548,695 $1,367,083 0 $500K $1.0M $1.5M $2.0M Active Under contract Sold - Last 12 Months 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. 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. 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.
Scottsdale - October 2022
150 350 550 750 950 1150 20-Oct 20-Nov 20-Dec 21-Jan 21-Feb 21-Mar 21-Apr 21-May 21-Jun 21-Jul 21-Aug 21-Sep 21-Oct 21-Nov 21-Dec 22-Jan 22-Feb Mar-22 22-Apr 22-May 22-Jun 22-Jul 22-Aug 22-Sep Active
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

- October 2022

Market Activity by Price Range

Inventory - Number of Months Supply

Average Price per Square Foot by Price Range

Figures for Active and Under

by

were

on the 15th of the previous

price, not the contract price. The contract

Note: The “Under Contract” price is the

Transactions by Month

416 254 143 118 158 215 131 71 55 36 177 81 39 21 15 158 66 36 17 11 0 100 200 300 400 500 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ Active New This Month Offers Accepted This Month Sold This month 2.0 2.6 3.0 3.3 5.4 0 12 24 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ $384 $437 $475 $606 $911 $361 $419 $522 $605 $800 $373 $415 $465 $535 $716 $150 $250 $350 $450 $550 $650 $750 $850 $950 $500K-$1M $1-$1.5M $1.5-2M $2-3M $3M+ Active Under contract Sold - Last 12 Mo 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 0% 2% 4% 6% 8% 10% 12% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Seasonality New Listings by Month Accepted Offers
Month Closed
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.
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.
Contract
compiled
month.
list
price is not revealed until the transaction closes. The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month. Scottsdale
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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

on the

Price per Square Foot

Price per Square Foot

per Square Foot

$586 $377$452 $614 $402 $458$468 $337 $265 $50 $150 $250 $350 $450 $550 $650 Traditional Short Sale REO Active Closed - Last Month Active- 12 Mo Avg Sold - 12-Mo Avg Price
By Type Scottsdale - October 2022 $415 $447 $520 $563 $608 $884 $350 $400 $450 $500 $550 $600 $650 $700 $750 $800 $850 $900 <3,000 3,001-4,000 4,001-5,000 5,001-7,500 7,501-10,000 10,000+
Based on size of the home (sold over the last twelve months) $431 $435 $424 $430 $493 $594 $656 $300 $350 $400 $450 $500 $550 $600 $650 $700 <1970 1970s 1980s 1990s 2000s 2010s 2020s
Based
year built (sold over the last twelve months) 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 Office: 480.991.2050 Scottsdale Office: 480.909.4577 WaltDanley.com

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