MARCH Home of the CLHMS
TM
SCOTTSDALE ARIZO N A www.LuxuryHomeMarketing.com
2022
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | FEBRUARY 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,100,000 $4,500,000+
56
9
$3,900,000 - $4,499,999 $3,500,000 - $3,899,999
17
11
17
1
$3,100,000 - $3,499,999
10
Total Sales Ratio2: 99%
12 12
13
$1,900,000 - $2,299,999
31
9
$1,700,000 - $1,899,999
21 17
$1,500,000 - $1,699,999 4
$1,400,000 - $1,499,999
30
16
7
$1,300,000 - $1,399,999
21 10
$1,250,000 - $1,299,999
11
5
$1,200,000 - $1,249,999
1
Seller's Market 25
$2,300,000 - $2,699,999
$1,100,000 - $1,149,999
Total Sales: 215 18
9
$2,700,000 - $3,099,999
$1,150,000 - $1,199,999
Total Inventory: 218
13
2
9
6
11
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,499
$1,317,500
4
3
90
47
191%
3,500 - 4,499
$1,918,000
4
4
70
51
137%
4,500 - 5,499
$2,055,000
4
5
29
38
76%
5,500 - 6,499
$3,330,000
5
5
14
28
50%
6,500 - 7,499
$4,387,500
5
6
5
18
28%
7,500+
$4,150,000
6
7
7
36
19%
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
$1,655,000
311
$1,549,500
311
268
$1,650,000
316
262
$1,575,000
290 271
192
Feb-21
Mar-21
Apr-21
May-21
$1,665,000
326
248
Jun-21
$1,550,000
308
Inventory
$1,577,768
307 207
Jul-21
$1,500,000
$1,575,100
297
292
Sep-21
$1,675,000
Oct-21
$1,682,500
$1,675,000
$1,487,500
266 185
181
174
Aug-21
Solds
241
186
Nov-21
214
217
Dec-21
218 215
180
Jan-22
Feb-22
MEDIAN DATA REVIEW | FEBRUARY TOTAL INVENTORY Feb. 2021
Feb. 2022
311
218 VARIANCE: -30 % SALE PRICE PER SQFT. Feb. 2021
Feb. 2022
378
482 VARIANCE: 28 %
$
$
TOTAL SOLDS Feb. 2021
SALES PRICE
Feb. 2022
192
215 VARIANCE: 12 %
Feb. 2021
$
SALE TO LIST PRICE RATIO Feb. 2021
Feb. 2022
97.65% 100.00% VARIANCE: 2 %
1.66m
Feb. 2022
1.68m VARIANCE: 1 % $
DAYS ON MARKET Feb. 2021
Feb. 2022
54
26 VARIANCE: -52 %
SCOTTSDALE MARKET SUMMARY | FEBRUARY 2022 • The Scottsdale single-family luxury market is a Seller's Market with a 99% Sales Ratio. • Homes sold for a median of 100.00% of list price in February 2022. • The most active price band is $1,150,000-$1,199,999, where the sales ratio is 450%. • The median luxury sales price for single-family homes is $1,675,000. • The median days on market for February 2022 was 26 days, down from 54 in February 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 | FEBRUARY 2022 Inventory
Sales
Luxury Benchmark Price 1: $600,000 $2,600,000+ $2,400,000 - $2,599,999 $2,200,000 - $2,399,999
23
0 4
0 0
$2,000,000 - $2,199,999
$1,800,000 - $1,999,999
1
Total Sales: 68
1 1
Seller's Market
4
2
$1,200,000 - $1,399,999
11
3 3
$1,000,000 - $1,199,999 $900,000 - $999,999
4
1
$1,400,000 - $1,599,999
Total Sales Ratio2: 86%
3
1
$1,600,000 - $1,799,999
Total Inventory: 79
0
9
3
12
$800,000 - $899,999 $750,000 - $799,999 3 3 1
$650,000 - $699,999
1
9
7
$700,000 - $749,999
$600,000 - $649,999
13
11
0
14
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$830,000
2
2
11
12
92%
1,500 - 1,999
$680,000
2
2
31
10
310%
2,000 - 2,499
$885,000
3
3
19
23
83%
2,500 - 2,999
$888,000
3
4
3
13
23%
3,000 - 3,499
$1,150,000
3
4
3
9
33%
3,500+
$1,417,000
3
4
1
12
8%
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
$722,500
121
$760,000
114 76
Feb-21
$750,000
103 104
93
Mar-21
Apr-21
Inventory
$787,500 $725,000
88
88
May-21
$725,000
93
98
Jun-21
82
70
Jul-21
$750,000
$749,975
83
85 60
Aug-21
Solds
$774,000
$781,000
78
78
48
Sep-21
62
Oct-21
$805,000
72
64
Nov-21
82
$792,500
$780,000
71
79
Dec-21
66
Jan-22
68
Feb-22
MEDIAN DATA REVIEW | FEBRUARY TOTAL INVENTORY Feb. 2021
Feb. 2022
121
TOTAL SOLDS Feb. 2021
Feb. 2022
79 VARIANCE: -35 %
68 VARIANCE: -11 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Feb. 2021
$
Feb. 2022
370
412 VARIANCE: 11 % $
76
Feb. 2021
Feb. 2022
99.26% 100.05% VARIANCE: 1 %
SALES PRICE Feb. 2021
$
723k
Feb. 2022
780k VARIANCE: 8 % $
DAYS ON MARKET Feb. 2021
Feb. 2022
37
18 VARIANCE: -51 %
SCOTTSDALE MARKET SUMMARY | FEBRUARY 2022 • The Scottsdale attached luxury market is a Seller's Market with a 86% Sales Ratio. • Homes sold for a median of 100.05% of list price in February 2022. • The most active price band is $650,000-$699,999, where the sales ratio is 1100%. • The median luxury sales price for attached homes is $780,000. • The median days on market for February 2022 was 18 days, down from 37 in February 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