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