April 2019 Scottsdale Luxury Property Report from The Lifestyle Collection

Luxury Property Report Scottsdale Arizona April 2019

Presented by

The Lifestyle Collection www.LifestyleCollectionRe.com 602-603-0708

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | MARCH 2019 Inventory

Sales

Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,300,000 - $4,999,999 $3,700,000 - $4,299,999 $3,200,000 - $3,699,999

$2,700,000 - $3,199,999

59

1 33

0

40

2

3

93

80

8

87

6

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

124

8

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

114

9

54

4

$1,200,000 - $1,299,999

$950,000 - $999,999

Total Sales Ratio2: 8%

6

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

$1,000,000 - $1,099,999

Buyer's Market 54

$2,000,000 - $2,299,999

$1,100,000 - $1,199,999

Total Sales: 87 44

4

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

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

Total Inventory: 1,095

79

10

89

6 56

8

89

12

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,017,500

3

3

8

36

22%

3,000 - 3,999

$1,189,000

4

4

25

230

11%

4,000 - 4,999

$1,317,000

5

5

25

309

8%

5,000 - 5,999

$2,100,000

6

5

20

232

9%

6,000 - 6,999

$2,800,000

7

6

5

129

4%

7,000+

$3,025,000

7

8

4

159

3%

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

SCOTTSDALE

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,312,500

821

$1,300,000

$1,245,000

810

112 Mar-18

812

787

117

101

Apr-18

$1,292,500

May-18

$1,327,500

743

130

Jun-18

$1,490,000 $1,252,500

Jul-18

$1,430,000

82

66

Aug-18

Sep-18

Solds

$1,291,750

881

847

751

686

80

Inventory

84

Oct-18

$1,420,000

$1,250,000

68

72

Nov-18

Dec-18

1,095

1,039

989

869

$1,475,000

$1,350,000

79

87

Feb-19

Mar-19

63 Jan-19

MEDIAN DATA INVENTORY February

March

1,039

1,095 VARIANCE: 5 %

SALE PRICE PER SQFT. February

$

March

314

343 VARIANCE: 9 % $

SOLDS February

SALES PRICE March

79

87 VARIANCE: 10 % SALE TO LIST PRICE RATIO February

March

95.02%

93.51% VARIANCE: -2 %

February

$

1.35m

March

1.48m VARIANCE: 9 % $

DAYS ON MARKET February

March

92

82 VARIANCE: -11 %

SCOTTSDALE MARKET SUMMARY | MARCH 2019 • The Scottsdale single-family luxury market is a Buyer's Market with an 8% Sales Ratio.

• Homes sold for a median of 93.51% of list price in March 2019.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 14%.

• The median luxury sales price for single-family homes has increased to $1,475,000.

• The median days on market for March 2019 was 82 days, down from 92 in February 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3

SCOTTSDALE

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | MARCH 2019 Inventory

Sales

Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999 $900,000 - $999,999

$850,000 - $899,999 $800,000 - $849,999 $750,000 - $799,999 $700,000 - $749,999

14

1

Total Sales: 46 Balanced Market

19

1

Total Sales Ratio2: 18%

15

1 10

1

15

1

21

2 13

3 11

2

$625,000 - $649,999 $600,000 - $624,999

Total Inventory: 259

6

1

$675,000 - $699,999 $650,000 - $674,999

29

8

13

3 9

2

$575,000 - $599,999

24

7

$550,000 - $574,999

23

6

$520,000 - $549,999

37

7

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$597,000

3

3

38

224

17%

3,000 - 3,999

$2,074,000

3

4

7

31

23%

4,000 - 4,999

$2,225,000

3

3

1

2

50%

5,000 - 5,999

NA

NA

NA

0

1

0%

6,000 - 6,999

NA

NA

NA

0

1

0%

7,000+

NA

NA

NA

0

0

NA

The luxury threshold price is set in July of each year by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's = up to 14%; Balanced = 15 to 20%; Seller's = 21% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

1

SCOTTSDALE

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$650,000

Inventory

$712,500 $620,000

$593,000

$600,000

$609,950

$568,279

$624,500

Solds

$592,500

$618,000

$582,500

243 133

108

124

117

100

39

33

26

Mar-18

Apr-18

May-18

25

Jun-18

22 Jul-18

24

13

Aug-18

Sep-18

20

25

Nov-18

Dec-18

22 Oct-18

$632,500

253

259

161

140

137

126

115

$660,000

31

46

Feb-19

Mar-19

26

Jan-19

MEDIAN DATA INVENTORY February

March

253

259 VARIANCE: 2 %

SALE PRICE PER SQFT. February

March

353

318 VARIANCE: -10 %

$

$

SOLDS February

SALES PRICE March

31

46 VARIANCE: 48 % SALE TO LIST PRICE RATIO February

March

97.43%

97.91% VARIANCE: 0 %

February

660k

$

March

633k VARIANCE: -4 % $

DAYS ON MARKET February

March

62

51 VARIANCE: -18 %

SCOTTSDALE MARKET SUMMARY | MARCH 2019 • The Scottsdale attached luxury market is a Balanced Market with an 18% Sales Ratio.

• Homes sold for a median of 97.91% of list price in March 2019.

• The most active price band is $575,000-$599,999, where the sales ratio is 29%.

• The median luxury sales price for attached homes has decreased to $632,500.

• The median days on market for March 2019 was 51 days, down from 62 in February 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Historical data before August 2017 does not account for listings taken off the market.

3