Luxury Property Report Scottsdale Arizona February 2019
Presented by
The Lifestyle Collection www.LifestyleCollectionRe.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JANUARY 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 $2,300,000 - $2,699,999 $2,000,000 - $2,299,999 $1,800,000 - $1,999,999
50
1 29
0
33
0
2
Total Sales Ratio2: 6% 74
2
49
3
80
4
114
6
121
13
58
4
$1,200,000 - $1,299,999
68
8
77
4
$1,000,000 - $1,099,999 $950,000 - $999,999
Buyer's Market 45
$1,400,000 - $1,599,999
$1,100,000 - $1,199,999
Total Sales: 63 37
1
$1,600,000 - $1,799,999
$1,300,000 - $1,399,999
Total Inventory: 989
69
11
85
4
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,020,000
4
3
4
37
11%
3,000 - 3,999
$1,187,500
4
4
18
193
9%
4,000 - 4,999
$1,385,000
4
4
14
298
5%
5,000 - 5,999
$1,550,000
4
5
17
210
8%
6,000 - 6,999
$2,387,500
5
7
6
107
6%
7,000+
$1,862,500
5
6
4
144
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
$1,299,000
$1,320,000
821
786
732
75 Jan-18
$1,312,500
810
112
64 Feb-18
$1,245,000
Mar-18
$1,300,000
Apr-18
117
May-18
$1,252,500
743
130
Jul-18
$1,430,000
$1,291,750
881
847
751
686
80
Jun-18
Solds
$1,490,000
$1,327,500
812
787
101
$1,292,500
Inventory
82
66
Aug-18
Sep-18
84 Oct-18
$1,250,000
$1,420,000
989
869
68
72
Nov-18
Dec-18
63 Jan-19
MEDIAN DATA INVENTORY December
January
869
SOLDS December
January
989 VARIANCE: 14 %
63 VARIANCE: -13 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
December
$
January
307
333 VARIANCE: 8 % $
72
December
January
95.78% 96.19% VARIANCE: 0 %
SALES PRICE December
1.25m
$
January
1.42m VARIANCE: 14 % $
DAYS ON MARKET December
January
68
72 VARIANCE: 6 %
SCOTTSDALE MARKET SUMMARY | JANUARY 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 6% Sales Ratio. • Homes sold for a median of 96.19% of list price in January 2019. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 16%. • The median luxury sales price for single-family homes has increased to $1,420,000. • The median days on market for January 2019 was 72 days, up from 68 in December 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 | JANUARY 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
11
0
Total Sales Ratio2: 11%
13 13
1
17
1
$700,000 - $749,999
17
2
$675,000 - $699,999
$575,000 - $599,999
Buyer's Market
19
1
$750,000 - $799,999
$600,000 - $624,999
Total Sales: 26
0
$800,000 - $849,999
$625,000 - $649,999
Total Inventory: 243
6
0
$850,000 - $899,999
$650,000 - $674,999
29
2
12
2 11
0
15
1 11
1
17
3
$550,000 - $574,999
20
6
$520,000 - $549,999
32
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$582,500
3
3
24
210
11%
3,000 - 3,999
$1,945,000
3
3
2
30
7%
4,000 - 4,999
NA
NA
NA
0
2
0%
5,000 - 5,999
NA
NA
NA
0
0
NA
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
$625,000
$650,000
$644,000
Inventory
Solds
$712,500 $620,000
$593,000
$609,950
$600,000
$568,279
$624,500
$592,500
$618,000
$582,500
243 137
128
22 Jan-18
133
108
124
117
100
26
39
33
26
Feb-18
Mar-18
Apr-18
May-18
25
22
Jun-18
Jul-18
140
137
126
115 24
13
Aug-18
Sep-18
161
22 Oct-18
20
25
Nov-18
Dec-18
26
Jan-19
MEDIAN DATA INVENTORY December
January
161
243 VARIANCE: 51 %
SALE PRICE PER SQFT. December
January
327
275 VARIANCE: -16 %
$
$
SOLDS December
January
25
26 VARIANCE: 4 %
SALE TO LIST PRICE RATIO December
January
96.96% 97.39% VARIANCE: 0 %
SALES PRICE December
$
618k
January
583k VARIANCE: -6 % $
DAYS ON MARKET December
January
53
55 VARIANCE: 4 %
SCOTTSDALE MARKET SUMMARY | JANUARY 2019 • The Scottsdale attached luxury market is a Buyer's Market with an 11% Sales Ratio. • Homes sold for a median of 97.39% of list price in January 2019. • The most active price band is $550,000-$574,999, where the sales ratio is 30%. • The median luxury sales price for attached homes has decreased to $582,500. • The median days on market for January 2019 was 55 days, up from 53 in December 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