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