Scottsdale Arizona Luxury property Report for December 2019

Luxury Property Report Scottsdale Arizona December 2019

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

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 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

36

3 22

0

46

1

2

69

56

8

67

8

75

7

93

21

65

7

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

68

13

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

64

10

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

1

Total Sales Ratio2: 13%

7

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

$950,000 - $999,999

Buyer's Market 52

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

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

Total Sales: 107 49

2

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

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

Total Inventory: 856

10

31

63

8

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$1,047,500

4

3

20

109

18%

3,500 - 4,499

$1,297,500

4

4

28

232

12%

4,500 - 5,499

$1,475,000

4

5

26

230

11%

5,500 - 6,499

$1,547,500

5

6

16

120

13%

6,500 - 7,499

$2,167,500

5

6

10

67

15%

7,500+

$2,900,000

6

8

7

98

7%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

SCOTTSDALE

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,291,750

881

$1,250,000

$1,420,000

68

72

Nov-18

Dec-18

63 Jan-19

$1,475,000

1,095

1,039

989

869

$1,350,000

$1,400,000

$1,391,250

980

79

87

Feb-19

Mar-19

Inventory

942

Apr-19

$1,365,320

790

133

124

$1,350,000

May-19

Solds

Jun-19

95

Jul-19

$1,425,000

$1,200,000

856

847

748

696

694 116

$1,445,000

$1,275,000

71

68

Aug-19

Sep-19

107

77 Oct-19

Nov-19

MEDIAN DATA INVENTORY October

November

847

856 VARIANCE: 1 %

SALE PRICE PER SQFT. October

November

299

$

316 VARIANCE: 6 % $

SOLDS October

November

77

107 VARIANCE: 39 % SALE TO LIST PRICE RATIO October

SALES PRICE

November

96.00% 96.15% VARIANCE: 0 %

October

1.45m

$

November

1.43m VARIANCE: -1 % $

DAYS ON MARKET October

November

117

77 VARIANCE: -34 %

SCOTTSDALE MARKET SUMMARY | NOVEMBER 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 13% Sales Ratio.

• Homes sold for a median of 96.15% of list price in November 2019.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 32%.

• The median luxury sales price for single-family homes has decreased to $1,425,000.

• The median days on market for November 2019 was 77 days, down from 117 in October 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

SCOTTSDALE

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 2019 Inventory

Sales

Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999

$700,000 - $749,999

1

Total Sales Ratio2: 17%

10

0

15

1

15

2

16

3 8

4

11

2

$600,000 - $624,999

8

4

21

2

$550,000 - $574,999

7

$520,000 - $549,999

1

Balanced Market

15 11

$650,000 - $674,999

$575,000 - $599,999

Total Sales: 39

2

$675,000 - $699,999

$625,000 - $649,999

Total Inventory: 234 7

0

$850,000 - $899,999

$750,000 - $799,999

6

2

$900,000 - $999,999

$800,000 - $849,999

50

2

15

26

7

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$556,139

2

2

5

24

21%

1,500 - 1,999

$590,631

2

2

12

68

18%

2,000 - 2,499

$670,000

3

3

14

77

18%

2,500 - 2,999

$667,500

3

3

6

34

18%

3,000 - 3,499

$795,711

3

4

2

19

11%

3,500+

NA

NA

NA

0

12

0%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

SCOTTSDALE

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$592,500

$660,000

$618,000

$582,500

259

253

243

$632,500

Inventory

$680,000

220

$625,000

$632,500

222

208

161

140 20

25

Nov-18

Dec-18

26

Jan-19

31

46

Feb-19

Mar-19

48

45 Apr-19

May-19

Solds

$640,000

187 49

Jun-19

$607,500

$605,000

194

204

35 Jul-19

32

31

Aug-19

Sep-19

$627,500

$620,000

226

234

52

39

Oct-19

Nov-19

MEDIAN DATA INVENTORY October

November

226

234 VARIANCE: 4 %

SALE PRICE PER SQFT. October

$

November

283

331 VARIANCE: 17 % $

SOLDS October

November

52

39 VARIANCE: -25 % SALE TO LIST PRICE RATIO October

November

97.58%

98.17% VARIANCE: 1 %

SALES PRICE October

November

628k

$

$

620k VARIANCE: -1 %

DAYS ON MARKET October

November

56

57 VARIANCE: 2 %

SCOTTSDALE MARKET SUMMARY | NOVEMBER 2019 • The Scottsdale attached luxury market is a Balanced Market with a 17% Sales Ratio.

• Homes sold for a median of 98.17% of list price in November 2019.

• The most active price bands are $600,000-$624,999 and $650,000-$674,999, where the sales ratio is 50%.

• The median luxury sales price for attached homes has decreased to $620,000.

• The median days on market for November 2019 was 57 days, up from 56 in October 2019.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3