November 2019 Scottsdale Luxury Property Report

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