March 2019 Scottsdale Luxury Property Report by The Lifestyle Collection

Luxury Property Report Scottsdale Arizona March 2019

Presented by

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

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | FEBRUARY 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

30

0

$2,000,000 - $2,299,999 $1,800,000 - $1,999,999

$1,300,000 - $1,399,999 $1,200,000 - $1,299,999

Buyer's Market

44

Total Sales Ratio2: 8%

49

5

77

1

55

5

85

6

113

8

129

6

58

6

71

7

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

74

13

$1,000,000 - $1,099,999 $950,000 - $999,999

Total Sales: 79

2

$1,600,000 - $1,799,999 $1,400,000 - $1,599,999

Total Inventory: 1,039

31

1

$2,700,000 - $3,199,999 $2,300,000 - $2,699,999

54

3

71

9

98

7

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$985,000

3

3

3

32

9%

3,000 - 3,999

$1,151,000

4

4

18

210

9%

4,000 - 4,999

$1,287,500

4

4

27

312

9%

5,000 - 5,999

$1,750,000

5

5

15

215

7%

6,000 - 6,999

$1,762,500

5

6

10

114

9%

7,000+

$4,560,000

7

8

6

156

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

$1,320,000

$1,312,500

821

786

64 Feb-18

$1,245,000

810

112

Apr-18

$1,292,500

812

787

101

Mar-18

$1,300,000

117 May-18

$1,490,000

$1,327,500

$1,252,500

743

130 Jun-18

Inventory

80 Jul-18

$1,430,000

82

66

Aug-18

Sep-18

$1,291,750

$1,250,000

881

847

751

686

Solds

84 Oct-18

$1,420,000

$1,350,000

1,039

989

869

68

72

Nov-18

Dec-18

79

63 Jan-19

Feb-19

MEDIAN DATA INVENTORY January

February

989

1,039 VARIANCE: 5 %

SALE PRICE PER SQFT. January

February

333

314 VARIANCE: -6 %

$

$

SOLDS January

February

63

79 VARIANCE: 25 % SALE TO LIST PRICE RATIO January

SALES PRICE

February

96.19% 95.02% VARIANCE: -1 %

January

1.42m

$

February

1.35m VARIANCE: -5 % $

DAYS ON MARKET January

February

72

92 VARIANCE: 28 %

SCOTTSDALE MARKET SUMMARY | FEBRUARY 2019 • The Scottsdale single-family luxury market is a Buyer's Market with an 8% Sales Ratio.

• Homes sold for a median of 95.02% of list price in February 2019.

• The most active price band is $1,100,000-$1,199,999, where the sales ratio is 18%.

• The median luxury sales price for single-family homes has decreased to $1,350,000.

• The median days on market for February 2019 was 92 days, up from 72 in January 2019.

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 | FEBRUARY 2019 Inventory

Sales

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

33

2 16

0

5

0

$900,000 - $999,999

13

$750,000 - $799,999

18

3

$700,000 - $749,999

20

3 11

2

$650,000 - $674,999

11

5

$625,000 - $649,999

14

1 12

0

19

1

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

Total Sales Ratio2: 12%

13

1

$675,000 - $699,999

Buyer's Market

19

1

$800,000 - $849,999

$575,000 - $599,999

Total Sales: 31

2

$850,000 - $899,999

$600,000 - $624,999

Total Inventory: 253

21

6

28

4

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$660,000

2

2

29

214

14%

3,000 - 3,999

$1,415,000

3

4

2

36

6%

4,000 - 4,999

NA

NA

NA

0

1

0%

5,000 - 5,999

NA

NA

NA

0

1

0%

6,000 - 6,999

NA

NA

NA

0

1

0%

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

$644,000

Inventory

$712,500

$650,000

$620,000

$593,000

$600,000

$609,950

$568,279

Solds

$624,500

$618,000

$592,500

$660,000

$582,500

253

243 137

133

108

124

117

100

26

39

33

26

Feb-18

Mar-18

Apr-18

May-18

25

Jun-18

22 Jul-18

24

13

Aug-18

Sep-18

161

140

137

126

115

20

25

Nov-18

Dec-18

22 Oct-18

31

26

Jan-19

Feb-19

MEDIAN DATA INVENTORY January

February

243

253 VARIANCE: 4 %

SALE PRICE PER SQFT. January

February

353 VARIANCE: 28 %

$

275

$

SOLDS January

February

26

31 VARIANCE: 19 % SALE TO LIST PRICE RATIO January

February

97.39% 97.43% VARIANCE: 0 %

SALES PRICE January

583k

$

February

660k VARIANCE: 13 % $

DAYS ON MARKET January

February

55

62 VARIANCE: 13 %

SCOTTSDALE MARKET SUMMARY | FEBRUARY 2019 • The Scottsdale attached luxury market is a Buyer's Market with a 12% Sales Ratio.

• Homes sold for a median of 97.43% of list price in February 2019.

• The most active price band is $650,000-$674,999, where the sales ratio is 45%.

• The median luxury sales price for attached homes has increased to $660,000.

• The median days on market for February 2019 was 62 days, up from 55 in January 2019.

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