Luxury Property Report Scottsdale Arizona January 2019
Presented by
The Lifestyle Collection www.LifestyleCollectionRe.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | DECEMBER 2018 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
47
0
Buyer's Market
38
Total Sales Ratio2: 8%
40
2
57
2
40
1
76
1
$1,600,000 - $1,799,999
86
7
$1,400,000 - $1,599,999
111
9
$1,300,000 - $1,399,999
52
10
$1,200,000 - $1,299,999
71
7
$1,100,000 - $1,199,999
62
15
$1,000,000 - $1,099,999 $950,000 - $999,999
Total Sales: 72
0
$2,300,000 - $2,699,999
$1,800,000 - $1,999,999
Total Inventory: 869
28
0
$2,700,000 - $3,199,999
$2,000,000 - $2,299,999
29
1
59
12
73
5
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$1,100,000
3
3
3
26
12%
3,000 - 3,999
$1,137,900
4
4
24
169
14%
4,000 - 4,999
$1,300,000
4
5
28
259
11%
5,000 - 5,999
$1,325,000
4
5
9
182
5%
6,000 - 6,999
$2,235,000
5
6
8
91
9%
7,000+
NA
NA
NA
0
142
0%
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
$1,304,750
$1,299,000
74 Dec-17
75
64
Jan-18
$1,312,500
821
786
732
659
$1,320,000
Feb-18
$1,245,000
810
112 Mar-18
$1,300,000
Inventory
$1,292,500
812
787
101 Apr-18
May-18
$1,490,000
Jun-18
$1,430,000
$1,252,500
743
130
117
$1,327,500
Solds
82
66
Aug-18
Sep-18
80 Jul-18
881
847
751
686
$1,291,750
84
Oct-18
$1,250,000
869
68
72
Nov-18
Dec-18
MEDIAN DATA INVENTORY November
December
881
869 VARIANCE: -1 %
SALE PRICE PER SQFT. November
December
300
$
307 VARIANCE: 2 % $
SOLDS November
December
68
72 VARIANCE: 6 %
SALE TO LIST PRICE RATIO November
December
95.92% 95.78% VARIANCE: 0 %
SALES PRICE November
1.29m
$
December
1.25m VARIANCE: -3 % $
DAYS ON MARKET November
December
69
68 VARIANCE: -1 %
SCOTTSDALE MARKET SUMMARY | DECEMBER 2018 • The Scottsdale single-family luxury market is a Buyer's Market with an 8% Sales Ratio. • Homes sold for a median of 95.78% of list price in December 2018. • The most active price band is $1,100,000-$1,199,999, where the sales ratio is 24%. • The median luxury sales price for single-family homes has decreased to $1,250,000. • The median days on market for December 2018 was 68 days, down from 69 in November 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 | DECEMBER 2018 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999
26
0 7
1
4
0
$900,000 - $999,999
$850,000 - $899,999 $800,000 - $849,999 $750,000 - $799,999 $700,000 - $749,999
$675,000 - $699,999
Total Sales: 25 Balanced Market
12
4
Total Sales Ratio2: 16%
7
0 5
0
11
0
12
1 11
1
$650,000 - $674,999
4
2
$625,000 - $649,999
5
2
$600,000 - $624,999
4
$575,000 - $599,999 $550,000 - $574,999
Total Inventory: 161
6 16
3 11
1
$520,000 - $549,999
24
6
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 2,999
$602,500
2
2
22
139
16%
3,000 - 3,999
$965,000
3
3
3
19
16%
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
$636,000
104 26
Dec-17
$625,000
$644,000
$650,000
128
137
133
26
22
Jan-18
Feb-18
Mar-18
Solds
$712,500 $620,000
108 39
Inventory
$593,000
100 33
Apr-18
26
$600,000
$609,950
117
124
25
May-18
Jun-18
$568,279
126
115
24
13
Aug-18
Sep-18
22
Jul-18
$624,500
$592,500
137
140
161
20
25
Nov-18
Dec-18
22
Oct-18
$618,000
MEDIAN DATA INVENTORY November
December
140
SOLDS November
December
161 VARIANCE: 15 %
25 VARIANCE: 25 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
November
December
273
327 VARIANCE: 20 %
$
$
20
November
December
97.63% 96.96% VARIANCE: -1 %
SALES PRICE November
593k
$
December
618k VARIANCE: 4 % $
DAYS ON MARKET November
December
33
53 VARIANCE: 61 %
SCOTTSDALE MARKET SUMMARY | DECEMBER 2018 • The Scottsdale attached luxury market is a Balanced Market with a 16% Sales Ratio. • Homes sold for a median of 96.96% of list price in December 2018. • The most active price band is $600,000-$624,999, where the sales ratio is 67%. • The median luxury sales price for attached homes has increased to $618,000. • The median days on market for December 2018 was 53 days, up from 33 in November 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