The Lifestyle Collection Scottsdale Luxury Property Report for November 2018

Luxury Property Report Scottsdale Arizona November 2018

Presented by

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

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | OCTOBER 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

42

0 25

0

26

0

58

52

2

81

6

103

12

54

6

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

68

7

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

$950,000 - $999,999

78

12

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

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

Total Sales Ratio2: 10%

6

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

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

Buyer's Market 35

5

$2,300,000 - $2,699,999

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

Total Sales: 84 32

0

$2,700,000 - $3,199,999

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

Total Inventory: 847

72

10 53

6

68

12

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,087,500

3

3

2

29

7%

3,000 - 3,999

$1,070,000

4

4

26

157

17%

4,000 - 4,999

$1,397,630

4

4

25

259

10%

5,000 - 5,999

$1,600,000

5

5

19

173

11%

6,000 - 6,999

$2,325,000

5

6

7

106

7%

7,000+

$2,000,000

5

7

5

123

4%

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

$1,350,000 $1,156,000

664

614

50 Oct-17

$1,304,750

$1,299,000

67

74

Nov-17

Dec-17

75 Jan-18

$1,312,500

64

Feb-18

$1,300,000

$1,245,000

821

786

732

659

$1,320,000

Inventory

810

112

$1,292,500

812

787

Apr-18

May-18

$1,490,000

$1,327,500

$1,252,500

743

130

117

101

Mar-18

Solds

Jun-18

80 Jul-18

847

751

686

$1,430,000

82

66

Aug-18

Sep-18

84 Oct-18

MEDIAN DATA INVENTORY September

October

751

SOLDS September

October

847 VARIANCE: 13 %

84 VARIANCE: 27 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

September

October

321

307 VARIANCE: -4 %

$

$

66

September

October

96.00% 96.32% VARIANCE: 0 %

SALES PRICE September

1.49m

$

October

1.43m VARIANCE: -4 % $

DAYS ON MARKET September

October

111

120 VARIANCE: 8 %

SCOTTSDALE MARKET SUMMARY | OCTOBER 2018 • The Scottsdale single-family luxury market is a Buyer's Market with a 10% Sales Ratio.

• Homes sold for a median of 96.32% of list price in October 2018.

• The most active price band is $950,000-$999,999, where the sales ratio is 18%.

• The median luxury sales price for single-family homes has decreased to $1,430,000.

• The median days on market for October 2018 was 120 days, up from 111 in September 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 | OCTOBER 2018 Inventory

Sales

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

0

1

1

$850,000 - $899,999

6

Balanced Market

9

7 9

0 6

1 5

2

$625,000 - $649,999

Total Sales Ratio2: 16%

10

0

$650,000 - $674,999

7

2

$600,000 - $624,999

6

8 14

0

$550,000 - $574,999 $520,000 - $549,999

Total Sales: 22

1

$675,000 - $699,999

$575,000 - $599,999

6

2

$800,000 - $849,999

$700,000 - $749,999

Total Inventory: 137

0

$900,000 - $999,999

$750,000 - $799,999

11

2

11

3

27

2

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$615,000

3

3

18

113

16%

3,000 - 3,999

$752,500

3

4

2

22

9%

4,000 - 4,999

$1,400,000

3

4

1

1

100%

5,000 - 5,999

NA

NA

NA

0

1

0%

6,000 - 6,999

$3,150,000

6

7

1

0

NA

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

$730,750 $636,000

$624,995

116

108

16

Oct-17

104

18

26

Nov-17

Dec-17

Inventory

$625,000

$644,000

$650,000

128

137

133

22 Jan-18

26 Feb-18

Solds

$712,500 $620,000

$593,000

108

100

39

33

26

Mar-18

Apr-18

May-18

$600,000

$609,950

117

124

25 Jun-18

$624,500

$568,279

24

22 Jul-18

137

126

115

Aug-18

22

13 Sep-18

Oct-18

MEDIAN DATA INVENTORY September

October

126

SOLDS September

October

137 VARIANCE: 9 %

22 VARIANCE: 69 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

September

$

13

October

September

282 VARIANCE: 8 %

98.13%

261

$

October

97.47% VARIANCE: -1 %

SALES PRICE September

568k

$

October

625k VARIANCE: 10 % $

DAYS ON MARKET September

October

104

73 VARIANCE: -30 %

SCOTTSDALE MARKET SUMMARY | OCTOBER 2018 • The Scottsdale attached luxury market is a Balanced Market with a 16% Sales Ratio.

• Homes sold for a median of 97.47% of list price in October 2018.

• The most active price band is $600,000-$624,999, where the sales ratio is 75%.

• The median luxury sales price for attached homes has increased to $624,500.

• The median days on market for October 2018 was 73 days, down from 104 in September 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