Scottsdale Luxury Market Report - June 2022

Page 1

JUNE

Home of the CLHMS

TM

SCOTTSDALE ARIZO N A www.LuxuryHomeMarketing.com

2022


SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | MAY 2022 Inventory

Sales

Luxury Benchmark Price 1: $1,100,000 $4,500,000+

67

7

$3,900,000 - $4,499,999

21

10

$3,500,000 - $3,899,999

14

$3,100,000 - $3,499,999

Total Inventory: 480

19

Total Sales: 269

$2,700,000 - $3,099,999

Seller's Market

25

11 13

$2,300,000 - $2,699,999

43

22

$1,900,000 - $2,299,999

51

28

$1,700,000 - $1,899,999

43

24

$1,500,000 - $1,699,999 25

22

$1,300,000 - $1,399,999

25

$1,250,000 - $1,299,999

20 13

$1,200,000 - $1,249,999

29

24

18 18

8

$1,100,000 - $1,149,999

1

49

33

$1,400,000 - $1,499,999

$1,150,000 - $1,199,999

Total Sales Ratio2: 56%

33

14

20

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$1,370,000

4

3

132

184

72%

3,500 - 4,499

$1,890,777

4

4

71

122

58%

4,500 - 5,499

$3,095,000

4

5

37

80

46%

5,500 - 6,499

$3,000,000

5

6

19

41

46%

6,500 - 7,499

$4,150,000

5

6

6

20

30%

7,500+

$4,025,000

5

6

4

33

12%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.


SCOTTSDALE

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,575,000

$1,665,000

$1,550,000

$1,577,768

$1,500,000

$1,575,100

Inventory

$1,675,000

Solds

$1,682,500

$1,675,000

$1,615,000

$1,487,500

$1,600,000

$1,640,000

480 290 271

May-21

326

308

248

307

207

Jun-21

Jul-21

297

292 174

Aug-21

181

Sep-21

185

Oct-21

266

186

Nov-21

241 214

217

Dec-21

180

Jan-22

256

218 215

Feb-22

297

323 295

Mar-22

269

Apr-22

May-22

MEDIAN DATA REVIEW | MAY TOTAL INVENTORY May 2021

May 2022

290

480 VARIANCE: 66 %

SALE PRICE PER SQFT. May 2021

May 2022

513 VARIANCE: 26 %

$

406

$

TOTAL SOLDS May 2021

May 2022

271

269 VARIANCE: -1 %

SALES PRICE May 2021

1.58m

$

SALE TO LIST PRICE RATIO May 2021

May 2022

May 2022

1.64m VARIANCE: 4 % $

DAYS ON MARKET May 2021

100.00% 100.00% VARIANCE: 0 %

May 2022

27

26 VARIANCE: -4 %

SCOTTSDALE MARKET SUMMARY | MAY 2022 • The Scottsdale single-family luxury market is a Seller's Market with a 56% Sales Ratio. • Homes sold for a median of 100.00% of list price in May 2022. • The most active price band is $1,200,000-$1,249,999, where the sales ratio is 138%. • The median luxury sales price for single-family homes is $1,640,000. • The median days on market for May 2022 was 26 days, down from 27 in May 2021.

Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.

3


SCOTTSDALE

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | MAY 2022 Inventory

Sales

Luxury Benchmark Price 1: $600,000 $2,600,000+

15

1

$2,400,000 - $2,599,999 $2,200,000 - $2,399,999

0

$2,000,000 - $2,199,999

$1,800,000 - $1,999,999

$1,200,000 - $1,399,999

Total Inventory: 139

1

Total Sales: 112

1 1

Seller's Market

1

Total Sales Ratio2: 81%

6

1

$1,600,000 - $1,799,999 $1,400,000 - $1,599,999

10

3

2

6

0

3

7 12 12

$1,000,000 - $1,199,999

14

$900,000 - $999,999 11

$800,000 - $899,999

22

$750,000 - $799,999

15

$700,000 - $749,999

14 11

$650,000 - $699,999 $600,000 - $649,999

1

15

17

15

13

12

10

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$700,000

2

2

17

25

68%

1,500 - 1,999

$790,000

3

2

54

53

102%

2,000 - 2,499

$850,000

3

3

27

32

84%

2,500 - 2,999

$1,000,000

3

3

9

14

64%

3,000 - 3,499

$1,040,000

3

4

2

7

29%

3,500+

$2,400,000

3

4

3

8

38%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.


SCOTTSDALE

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$725,000

88

88

May-21

$787,500

$725,000

93

98

82

Jun-21

70

Jul-21

$750,000

83

60

Aug-21

$749,975

85

$774,000

78 48

Sep-21

Inventory

62

Oct-21

$781,000

78

72

Nov-21

$805,000

64

82

Solds

$792,500

71

Dec-21

66

Jan-22

$785,000

$780,000

79

87

68

Feb-22

107

$830,000

$820,000

139

113 107

Mar-22

112

Apr-22

May-22

MEDIAN DATA REVIEW | MAY TOTAL INVENTORY May 2021

May 2022

88

TOTAL SOLDS May 2021

May 2022

139 VARIANCE: 58 %

112 VARIANCE: 27 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

May 2021

May 2022

376

442 VARIANCE: 18 %

$

$

88

May 2021

May 2022

100.00% 100.00% VARIANCE: 0 %

SALES PRICE May 2021

725k

$

May 2022

820k VARIANCE: 13 % $

DAYS ON MARKET May 2021

May 2022

24

20 VARIANCE: -17 %

SCOTTSDALE MARKET SUMMARY | MAY 2022 • The Scottsdale attached luxury market is a Seller's Market with an 81% Sales Ratio. • Homes sold for a median of 100.00% of list price in May 2022. • The most active price band is $800,000-$899,999, where the sales ratio is 200%. • The median luxury sales price for attached homes is $820,000. • The median days on market for May 2022 was 20 days, down from 24 in May 2021.

Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.

3


Your Luxury Expert Team John A. Sposato is the founder and team leader of the Arizona Home Group, and has been selling Real Estate in the Phoenix Metro area since 1993. John’s area expertise covers the entire NE Valley, to include all of Scottsdale, Paradise Valley, The Biltmore, Cave Creek/Carefree and Desert Ridge. The goal of the Arizona Home Group has always been to provide you with A Better Real Estate Experience. John and his team have delivered world class service to thousands of clients for close to 3 decades. Helping his buyers and sellers make an educated decision and negotiating the best price for them are what sets him apart from his peers. Let John help you to navigate the process of selling your largest asset, with honesty, integrity and an attention to detail that is second to none. Check out some of our reviews: “John and his team are the BEST!. We interviewed other agents, but once we met with John it was clear that he was the right realtor for us. Buying a home in Scottsdale AZ is hard work and John stuck by us every step of the way. After looking at 48 houses, we just closed on a fabulous property yesterday and it never would have happened if it wasn’t for John and his team. Patience, professionalism and just good people, they stuck by us through the entire process. Would give this group 10 stars if I could. Shout out to Nick, thanks for all your support! Thanks John and team for everything!” Catherine K. “We worked with John and his team selling our home of 21 years. Everyone was professional, kind and courteous. John went above and beyond for us to get our house sold. I would recommend this company Juli M. to anyone buying and selling a home. Can’t wait to work with them again.” “Actual real estate agents have specific qualities that define them: power of negotiation, transparency, and trust. I can say that John Sposato, the real estate agent that I worked with during my house buying transaction, has all of these qualities. Thank you very much for a job well done.” Sal M. “John and his team are hands down the best in the business. John helped us buy our first home and throughout the entire process was very personable, knowledgeable, and reliable. We really appreciated how he explains every step of the process so we can be fully aware of what is happening. 10/10 would recommend John to buy/sell a house.” Jason A.

John A. Sposato PC, CDPE, CIAS ABR, CRS john@arizonahomegroup.com 602.571.3730

#AHGScottsdaleRealtor

www.ArizonaHomeGroup.com Find Us and Subscribe on YouTube: Arizona Home Group


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