Scottsdale Luxury Property Report - June 2018

SC O T T S D A L E ARI ZO N A –June 2018–

Presented by

The Lifestyle Collection

at Keller Williams Luxury www.LifestyleCollectionRE.com 602-603-0708

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | MAY 2018 Inventory

Sales

Luxury Benchmark Price 1: $950,000 $4,950,000+ $4,350,000 - $4,949,999 $3,850,000 - $4,349,999

84

2 27

5

36

3

$3,350,000 - $3,849,999

73

5

$1,150,000 - $1,249,999 $1,050,000 - $1,149,999

92

13

113

13 98

6

117

9

$1,350,000 - $1,549,999 $1,250,000 - $1,349,999

Total Sales Ratio2: 13%

65

8

$1,950,000 - $2,249,999

$1,550,000 - $1,749,999

Buyer's Market

53

$2,250,000 - $2,549,999

$1,750,000 - $1,949,999

Total Sales: 156

7

$2,950,000 - $3,349,999 $2,550,000 - $2,949,999

Total Inventory: 1,202

128

18 79

9

80

17 59

19

$950,000 - $1,049,999

98

22

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,000,000

4

3

3

31

10%

3,000 - 3,999

$1,150,000

4

4

33

190

17%

4,000 - 4,999

$1,357,000

4

5

48

325

15%

5,000 - 5,999

$1,550,000

5

5

27

256

11%

6,000 - 6,999

$2,412,500

5

6

22

163

13%

7,000+

$3,495,000

6

7

23

237

10%

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

$1,474,500

1,018

124 May-17

$1,350,000

$1,400,000

$1,450,000

1,005

1,004

1,063

138

94

Jun-17

Jul-17

$1,340,000

Inventory

$1,450,000 $1,280,000

1,329

1,217

$1,350,000

1,292

Solds

$1,430,000

$1,408,000

$1,375,000

$1,390,000

1,433

1,468

1,473

1,394

$1,465,000

1,202

912

91

79

Aug-17

Sep-17

78

Oct-17

97

95

Nov-17

Dec-17

103 Jan-18

152

89 Feb-18

Mar-18

156

136 Apr-18

May-18

MEDIAN DATA INVENTORY April

May

1,394

1,202 VARIANCE: -14 %

SALE PRICE PER SQFT. April

May

308

$

327 VARIANCE: 6 % $

SOLDS April

SALES PRICE May

136

156 VARIANCE: 15 %

SALE TO LIST PRICE RATIO April

May

95.83% 94.78% VARIANCE: -1 %

April

1.39m

$

May

1.47m VARIANCE: 5 % $

DAYS ON MARKET April

May

111

118 VARIANCE: 6 %

SCOTTSDALE MARKET SUMMARY | MAY 2018 • The Scottsdale single-family luxury market is a Buyer's Market with a 13% Sales Ratio.

• Homes sold for a median of 94.78% of list price in May 2018.

• The most active price band is $1,050,000-$1,149,999, where the sales ratio is 32%.

• The median luxury sales price for single-family homes has increased to $1,465,000.

• The median days on market for May 2018 was 118 days, up from 111 in April 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 | MAY 2018 Inventory

Sales

Luxury Benchmark Price 1: $500,000 $1,000,000+ $950,000 - $999,999 $900,000 - $949,999

4

2 0

Total Sales: 33

$750,000 - $799,999

6

3

9

2

11

0

$600,000 - $649,999

13

2

$550,000 - $599,999

27

4

8

1

$530,000 - $539,999

7

2

$520,000 - $529,999

6

$510,000 - $519,999 $500,000 - $509,999

Total Sales Ratio2: 22%

10

1

$700,000 - $749,999

Seller's Market

13

2

$800,000 - $849,999

$540,000 - $549,999

Total Inventory: 151

1

$850,000 - $899,999

$650,000 - $699,999

28

3

3

1

8

5

2

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$525,000

3

2

9

32

28%

2,000 - 2,499

$527,100

3

3

9

53

17%

2,500 - 2,999

$760,000

3

3

8

29

28%

3,000 - 3,499

$1,003,500

3

4

4

20

20%

3,500 - 3,999

$661,500

5

4

2

7

29%

4,000+

$1,175,000

4

6

1

10

10%

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

$575,000

$575,000

98

92 26 May-17

$574,326

20

Jun-17

Jul-17

$650,000

$690,000 $580,000

169

160

133

108

97 15

$599,990

Inventory

13

21

Aug-17

Sep-17

21 Oct-17

$640,000

169

24

30

Nov-17

Dec-17

Solds

$615,000

$598,000

196

187

23 Jan-18

$651,500

176

29

41

Feb-18

Mar-18

$595,000

$575,000

159

151

41

33

Apr-18

May-18

MEDIAN DATA INVENTORY April

May

159

SOLDS April

SALES PRICE May

151 VARIANCE: -5 %

33 VARIANCE: -20 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

April

May

273

$

264 VARIANCE: -3 % $

41

April

May

97.75% 97.35% VARIANCE: 0 %

April

595k

$

575k VARIANCE: -3 % $

DAYS ON MARKET April

55

May

63 VARIANCE: 15 %

SCOTTSDALE MARKET SUMMARY | MAY 2018 • The Scottsdale attached luxury market is a Seller's Market with a 22% Sales Ratio.

• Homes sold for a median of 97.35% of list price in May 2018.

• The most active price band is $500,000-$509,999, where the sales ratio is 200%.

• The median luxury sales price for attached homes has decreased to $575,000.

• The median days on market for May 2018 was 63 days, up from 55 in April 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

May