Luxury Property Report Scottsdale Arizona November 2019
The Lifestyle Collection www.TheLifestyleCollection.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | OCTOBER 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
38
0 20
1
41
1
1
$2,700,000 - $3,199,999
5
$2,300,000 - $2,699,999
46
Total Sales Ratio2: 9% 68
59 68 70
6
$1,400,000 - $1,599,999
105
10
67
2 62
7
$1,100,000 - $1,199,999
68
8
$1,000,000 - $1,099,999
1
Buyer's Market
5
$1,600,000 - $1,799,999
$950,000 - $999,999
46
5
$1,800,000 - $1,999,999
$1,200,000 - $1,299,999
Total Sales: 77
6
$2,000,000 - $2,299,999
$1,300,000 - $1,399,999
Total Inventory: 847
13
32
57
7
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,499
$1,100,000
4
3
4
103
4%
3,500 - 4,499
$1,150,000
4
4
29
228
13%
4,500 - 5,499
$1,340,000
4
5
19
233
8%
5,500 - 6,499
$1,697,500
5
6
8
120
7%
6,500 - 7,499
$1,850,000
5
7
9
70
13%
7,500+
$2,550,000
5
7
8
93
9%
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
$1,430,000
$1,291,750
881
847
84
Oct-18
$1,250,000
$1,420,000
68
72
Nov-18
Dec-18
63 Jan-19
$1,475,000
$1,400,000
$1,391,250
1,095
1,039
989
869
$1,350,000
Inventory
980
79
87
Feb-19
Mar-19
Solds
$1,350,000
942
790
133
124
Apr-19
$1,365,320
May-19
$1,275,000
116
Jun-19
95
Jul-19
847
748
696
694
$1,445,000 $1,200,000
71
68
Aug-19
Sep-19
77 Oct-19
MEDIAN DATA INVENTORY September
October
748
SOLDS September
October
847 VARIANCE: 13 %
77 VARIANCE: 13 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
September
October
299
$
299 VARIANCE: 0 % $
68
September
October
96.36% 96.00% VARIANCE: 0 %
SALES PRICE September
1.20m
$
October
1.45m VARIANCE: 20 % $
DAYS ON MARKET September
October
103
117 VARIANCE: 14 %
SCOTTSDALE MARKET SUMMARY | OCTOBER 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 9% Sales Ratio. • Homes sold for a median of 96.00% of list price in October 2019. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 41%. • The median luxury sales price for single-family homes has increased to $1,445,000. • The median days on market for October 2019 was 117 days, up from 103 in September 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 | OCTOBER 2019 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999
9
0
1 10
3
14
5 11
5
$675,000 - $699,999
14
3 9
2
10
3
$600,000 - $624,999
$550,000 - $574,999
6
8 16
3 10
3
$520,000 - $549,999
1
Total Sales Ratio2: 23%
17
$700,000 - $749,999
$575,000 - $599,999
Seller's Market
15
$750,000 - $799,999
$625,000 - $649,999
Total Sales: 52
2
$800,000 - $849,999
$650,000 - $674,999
Total Inventory: 226
5
0
$900,000 - $999,999
$850,000 - $899,999
44
3
34
13
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$570,000
2
2
2
22
9%
1,500 - 1,999
$550,449
2
2
13
65
20%
2,000 - 2,499
$615,000
3
3
25
75
33%
2,500 - 2,999
$742,500
3
3
8
32
25%
3,000 - 3,499
$734,417
3
3
3
18
17%
3,500+
$1,600,000
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
13 - MONTH LUXURY MARKET TREND 4 Sale Price
$624,500
$618,000
$592,500
$660,000 $582,500
22 Oct-18
220
20
25
Nov-18
Dec-18
26
Jan-19
Solds
$625,000
$632,500
222
208
161
140
137
$680,000
$632,500
259
253
243
Inventory
31
46
45
48
Feb-19
Mar-19
Apr-19
May-19
$640,000
187 49
Jun-19
35 Jul-19
$607,500
$605,000
194
204
$627,500
226
32
31
Aug-19
Sep-19
52 Oct-19
MEDIAN DATA INVENTORY September
October
204
SOLDS September
October
226 VARIANCE: 11 %
52 VARIANCE: 68 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
September
October
September
283 VARIANCE: -3 %
97.14%
292
$
31
$
October
97.58% VARIANCE: 0 %
SALES PRICE September
605k
$
October
628k VARIANCE: 4 % $
DAYS ON MARKET September
October
69
56 VARIANCE: -19 %
SCOTTSDALE MARKET SUMMARY | OCTOBER 2019 • The Scottsdale attached luxury market is a Seller's Market with a 23% Sales Ratio. • Homes sold for a median of 97.58% of list price in October 2019. • 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 $627,500. • The median days on market for October 2019 was 56 days, down from 69 in September 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