The Lifestyle Collection Scottsdale Luxury Property Report for December 2018

Luxury Property Report Scottsdale Arizona December 2018

Presented by

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

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 2018 Inventory

Sales

Luxury Benchmark Price 1: $950,000 $5,000,000+ $4,300,000 - $4,999,999

$2,700,000 - $3,199,999 $2,300,000 - $2,699,999

27

0

$3,700,000 - $4,299,999 $3,200,000 - $3,699,999

46

1

33

1

Buyer's Market Total Sales Ratio2: 8%

41

1

60

2

43

5

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

82

6

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

81

7

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

109

6

59

3

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

62

10

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

69

9

$1,000,000 - $1,099,999 $950,000 - $999,999

Total Sales: 68 36

0

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

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

Total Inventory: 881

64

9

69

8

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$985,000

3

3

1

25

4%

3,000 - 3,999

$1,125,000

4

4

23

168

14%

4,000 - 4,999

$1,269,000

4

4

27

268

10%

5,000 - 5,999

$1,540,000

5

5

10

183

5%

6,000 - 6,999

$1,500,000

5

6

3

100

3%

7,000+

$2,350,000

6

8

4

137

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

$1,350,000

664

$1,304,750

$1,299,000

67

74

Nov-17

Dec-17

75 Jan-18

$1,312,500

821

786

732

659

$1,320,000

64 Feb-18

$1,300,000

$1,245,000

810

112 Mar-18

Inventory

117

Apr-18

$1,327,500

812

787

101

$1,292,500

May-18

Solds

743

130

Jun-18

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

82

66

Aug-18

Sep-18

80 Jul-18

$1,291,750

881

847

751

686

$1,430,000

84

68

Oct-18

Nov-18

MEDIAN DATA INVENTORY October

November

847

881 VARIANCE: 4 %

SALE PRICE PER SQFT. October

$

November

307

300 VARIANCE: -2 % $

SOLDS October

November

84

68 VARIANCE: -19 % SALE TO LIST PRICE RATIO October

SALES PRICE

November

96.32% 95.92% VARIANCE: 0 %

October

1.43m

$

November

1.29m VARIANCE: -10 % $

DAYS ON MARKET October

November

120

69 VARIANCE: -43 %

SCOTTSDALE MARKET SUMMARY | NOVEMBER 2018 • The Scottsdale single-family luxury market is a Buyer's Market with an 8% Sales Ratio.

• Homes sold for a median of 95.92% of list price in November 2018.

• The most active price band is $1,200,000-$1,299,999, where the sales ratio is 16%.

• The median luxury sales price for single-family homes has decreased to $1,291,750.

• The median days on market for November 2018 was 69 days, down from 120 in October 2018.

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 | NOVEMBER 2018 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

12

0 3

1

5

0

13

7

0

9

1

$675,000 - $699,999

$600,000 - $624,999

8

2 5

0

8

1 5

1

$575,000 - $599,999 $550,000 - $574,999

Total Sales Ratio2: 14%

10

1

$700,000 - $749,999

$625,000 - $649,999

Buyer's Market

3

$800,000 - $849,999

$650,000 - $674,999

Total Sales: 20 6

0

$850,000 - $899,999

$750,000 - $799,999

Total Inventory: 140

17

3 13

2

$520,000 - $549,999

19

5

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$577,500

3

3

18

113

16%

3,000 - 3,999

$855,000

4

4

2

25

8%

4,000 - 4,999

NA

NA

NA

0

0

NA

5,000 - 5,999

NA

NA

NA

0

2

0%

6,000 - 6,999

NA

NA

NA

0

0

NA

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

$624,995

116

$636,000

104

18

26

Nov-17

Dec-17

$625,000

$644,000

$650,000

128

137

133

22 Jan-18

26

Feb-18

39

Mar-18

Inventory

Solds

$712,500 $620,000

$593,000

108

100

33

26

Apr-18

May-18

$600,000

$609,950

117

124

25 Jun-18

$568,279

126

115

24

22 Jul-18

$624,500

$592,500

137

140

22

13

Aug-18

Sep-18

20

Oct-18

Nov-18

MEDIAN DATA INVENTORY October

November

137

140 VARIANCE: 2 %

SALE PRICE PER SQFT. October

November

282

$

273 VARIANCE: -3 % $

SOLDS October

November

22

20 VARIANCE: -9 % SALE TO LIST PRICE RATIO October

November

97.47% 97.63% VARIANCE: 0 %

SALES PRICE October

November

625k

$

$

593k VARIANCE: -5 %

DAYS ON MARKET October

November

73

33 VARIANCE: -55 %

SCOTTSDALE MARKET SUMMARY | NOVEMBER 2018 • The Scottsdale attached luxury market is a Buyer's Market with a 14% Sales Ratio.

• Homes sold for a median of 97.63% of list price in November 2018.

• The most active price band is $1,125,000-$1,249,999, where the sales ratio is 33%.

• The median luxury sales price for attached homes has decreased to $592,500.

• The median days on market for November 2018 was 33 days, down from 73 in October 2018.

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