Luxury Property Report Scottsdale Arizona February 2020
The Lifestyle Collection www.TheLifestyleCollection.com 602-603-0708
SCOTTSDALE
SINGLE- FAMILY HOMES
LUXURY INVENTORY VS. SALES | JANUARY 2020 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
44
1 18
1
43
0
69
54
9
59
4
67
7
101
7
53
4
$1,200,000 - $1,299,999
$1,000,000 - $1,099,999
69
9
71
4 38
13
$950,000 - $999,999
1
Total Sales Ratio2: 10%
45
4
$1,400,000 - $1,599,999
$1,100,000 - $1,199,999
Buyer's Market
51
4
$1,600,000 - $1,799,999
$1,300,000 - $1,399,999
Total Sales: 86
4
$2,000,000 - $2,299,999 $1,800,000 - $1,999,999
Total Inventory: 844
62
15
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,499
$1,065,000
3
4
18
103
17%
3,500 - 4,499
$1,150,000
4
4
26
232
11%
4,500 - 5,499
$1,250,000
5
5
17
233
7%
5,500 - 6,499
$1,825,000
5
6
14
115
12%
6,500 - 7,499
$2,100,000
5
6
7
62
11%
7,500+
$3,075,000
6
7
4
99
4%
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
4 13- MONTH LUXURY MARKET TREND Median Sales Price
$1,420,000
$1,350,000
1,095
1,039
989
63 Jan-19
$1,475,000
$1,391,250
980
79
87
Feb-19
Mar-19
$1,400,000
942
124
Apr-19
$1,350,000
Inventory
$1,365,320
790
133
May-19
$1,275,000
116
95
Jun-19
$1,445,000
Jul-19
$1,425,000
$1,200,000
856
847
748
696
694
Solds
71
68
Aug-19
Sep-19
$1,330,000
Oct-19
844
837
113
107
77
Nov-19
$1,310,000
Dec-19
86 Jan-20
MEDIAN DATA INVENTORY December
January
837
844 VARIANCE: 1 %
SALE PRICE PER SQFT. December
January
303 VARIANCE: -3 %
$
312
$
SOLDS December
January
113
86 VARIANCE: -24 % SALE TO LIST PRICE RATIO December
January
95.89% 95.65% VARIANCE: 0 %
SALES PRICE December
$
1.33m
January
1.31m VARIANCE: -2 % $
DAYS ON MARKET December
January
88
94 VARIANCE: 7 %
SCOTTSDALE MARKET SUMMARY | JANUARY 2020 • The Scottsdale single-family luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 95.65% of list price in January 2020. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 34%. • The median luxury sales price for single-family homes has decreased to $1,310,000. • The median days on market for January 2020 was 94 days, up from 88 in December 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 | JANUARY 2020 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999
8
1
14
14
1
$700,000 - $749,999
15
6
$675,000 - $699,999
17
4 6
1
18
0
$600,000 - $624,999
4
8 24
3
$550,000 - $574,999 $520,000 - $549,999
1
Total Sales Ratio2: 18%
10
0
$650,000 - $674,999
Balanced Market
17
3
$750,000 - $799,999
$575,000 - $599,999
Total Sales: 48
1
$850,000 - $899,999
$625,000 - $649,999
Total Inventory: 263
8
0
$900,000 - $999,999
$800,000 - $849,999
62
5
11
18
24
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$564,990
2
2
7
21
33%
1,500 - 1,999
$560,250
2
2
14
78
18%
2,000 - 2,499
$620,000
3
3
17
90
19%
2,500 - 2,999
$705,000
3
3
6
40
15%
3,000 - 3,499
$1,410,500
2
3
3
20
15%
3,500+
$1,275,000
3
4
1
14
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
ATTACHED HOMES
4 13- MONTH LUXURY MARKET TREND Sale Price
$582,500
243
26
Jan-19
$660,000
$632,500
253
259
$680,000
220
Inventory
Solds
$752,500 $625,000
$632,500
222
208
31
46
45
48
Feb-19
Mar-19
Apr-19
May-19
49
$640,000
$607,500
$605,000
187
194
204
35
Jun-19
Jul-19
32
31
Aug-19
Sep-19
$627,500
$620,000
226
234
52
Oct-19
$619,000
263
225
39
38
Nov-19
Dec-19
48
Jan-20
MEDIAN DATA INVENTORY December
January
225
263 VARIANCE: 17 %
SALE PRICE PER SQFT. December
January
313 VARIANCE: -11 %
$
352
$
SOLDS December
January
38
48 VARIANCE: 26 % SALE TO LIST PRICE RATIO December
January
96.97% 96.97% VARIANCE: 0 %
SALES PRICE December
753k
$
January
619k VARIANCE: -18 % $
DAYS ON MARKET December
January
57
85 VARIANCE: 49 %
SCOTTSDALE MARKET SUMMARY | JANUARY 2020 • The Scottsdale attached luxury market is a Balanced Market with an 18% Sales Ratio. • Homes sold for a median of 96.97% of list price in January 2020. • The most active price band is $550,000-$574,999, where the sales ratio is 61%. • The median luxury sales price for attached homes has decreased to $619,000. • The median days on market for January 2020 was 85 days, up from 57 in December 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