Scottsdale Luxury Property Report For February, 2019

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