Scottsdale Luxury Market Report - May 2022

MAY

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SCOTTSDALE ARIZO N A www.LuxuryHomeMarketing.com

2022

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | APRIL 2022 Inventory

Sales

Luxury Benchmark Price 1: $1,100,000 $4,500,000+ $3,900,000 - $4,499,999 $3,500,000 - $3,899,999

64

11 18

9 5

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

11

Total Inventory: 323

19

Total Sales: 295

19

Seller's Market

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

26

19

26

$1,900,000 - $2,299,999 $1,700,000 - $1,899,999

20

31 12

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

15

$1,250,000 - $1,299,999 10

$1,200,000 - $1,249,999 $1,150,000 - $1,199,999

44

20

14

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

1

30

24

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

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

Total Sales Ratio2: 91%

25 25

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

32

20

12

11

14

6

26

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$1,350,000

4

3

158

104

152%

3,500 - 4,499

$1,860,000

4

4

62

85

73%

4,500 - 5,499

$2,600,000

4

5

33

59

56%

5,500 - 6,499

$3,212,500

5

6

20

28

71%

6,500 - 7,499

$3,525,000

5

6

10

16

63%

7,500+

$5,637,500

6

7

12

31

39%

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

$1,650,000

316

$1,575,000

Apr-21

$1,550,000

326

290 271

262

$1,665,000

308

248

May-21

307 207

Jun-21

$1,577,768

Jul-21

$1,500,000

Aug-21

$1,575,100

297

292 174

Inventory

181

Sep-21

$1,675,000

$1,682,500

$1,675,000

$1,487,500

266

186

185

Oct-21

Solds

241

Nov-21

214

Dec-21

217

$1,615,000

218 215

180

Jan-22

Feb-22

256

$1,600,000

323

297

Mar-22

295

Apr-22

MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2021

Apr. 2022

316

323 VARIANCE: 2 %

SALE PRICE PER SQFT. Apr. 2021

Apr. 2022

507 VARIANCE: 28 %

$

397

$

TOTAL SOLDS Apr. 2021

Apr. 2022

262

295 VARIANCE: 13 %

SALES PRICE Apr. 2021

$

SALE TO LIST PRICE RATIO Apr. 2021

Apr. 2022

1.65m

Apr. 2022

1.60m VARIANCE: -3 % $

DAYS ON MARKET Apr. 2021

100.00% 100.67% VARIANCE: 1 %

Apr. 2022

32

19 VARIANCE: -41 %

SCOTTSDALE MARKET SUMMARY | APRIL 2022 • The Scottsdale single-family luxury market is a Seller's Market with a 91% Sales Ratio.

• Homes sold for a median of 100.67% of list price in April 2022.

• The most active price band is $1,100,000-$1,149,999, where the sales ratio is 433%.

• The median luxury sales price for single-family homes is $1,600,000.

• The median days on market for April 2022 was 19 days, down from 32 in April 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 | APRIL 2022 Inventory

Sales

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

14

0 1

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

0

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

0

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

Total Sales: 107

2

Seller's Market

1

$1,800,000 - $1,999,999 $1,600,000 - $1,799,999

Total Inventory: 113

2

3

Total Sales Ratio2: 95%

4

3

1

6

2 4

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

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

12 14

6 7

$900,000 - $999,999

9

17

$800,000 - $899,999 $750,000 - $799,999

14

7

$700,000 - $749,999

9

$650,000 - $699,999

9

14 12

11

$600,000 - $649,999

1

23

13

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$702,500

2

2

26

16

163%

1,500 - 1,999

$740,000

2

2

40

41

98%

2,000 - 2,499

$899,000

3

3

27

30

90%

2,500 - 2,999

$1,476,374

3

3

12

10

120%

3,000 - 3,499

$1,200,000

3

3

1

7

14%

3,500+

$1,175,000

4

6

1

9

11%

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

$750,000

103 104

Apr-21

$725,000

$725,000

88

93

88

May-21

$787,500

98

82

Jun-21

70

Jul-21

Inventory

$750,000

$749,975

$774,000

$781,000

83

85

78

78

60

Aug-21

48

Sep-21

62

Oct-21

72

Solds

$805,000

64

Nov-21

82

Dec-21

$792,500

71

$780,000

79

66

Jan-22

68

Feb-22

$830,000

$785,000

87

113 107

107

Mar-22

Apr-22

MEDIAN DATA REVIEW | APRIL TOTAL INVENTORY Apr. 2021

Apr. 2022

103

113 VARIANCE: 10 %

SALE PRICE PER SQFT. Apr. 2021

Apr. 2022

359

464 VARIANCE: 29 %

$

$

TOTAL SOLDS Apr. 2021

Apr. 2022

104

107 VARIANCE: 3 %

SALE TO LIST PRICE RATIO Apr. 2021

Apr. 2022

100.00% 100.00% VARIANCE: 0 %

SALES PRICE Apr. 2021

750k

$

Apr. 2022

830k VARIANCE: 11 % $

DAYS ON MARKET Apr. 2021

Apr. 2022

36

22 VARIANCE: -39 %

SCOTTSDALE MARKET SUMMARY | APRIL 2022 • The Scottsdale attached luxury market is a Seller's Market with a 95% Sales Ratio.

• Homes sold for a median of 100.00% of list price in April 2022.

• The most active price band is $1,200,000-$1,399,999, where the sales ratio is 300%.

• The median luxury sales price for attached homes is $830,000.

• The median days on market for April 2022 was 22 days, down from 36 in April 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

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