Luxury Property Report Scottsdale Arizona August 2019
The Lifestyle Collection www.TheLifestyleCollection.com 602-603-0708
SCOTTSDALE
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JULY 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
$2,700,000 - $3,199,999
36
3 20
0
29
0
1
52
50
6
56
6
$1,600,000 - $1,799,999
72
9
$1,400,000 - $1,599,999
$1,000,000 - $1,099,999
90
14
38
5
58
6 49
11 28
10
$950,000 - $999,999
1
Total Sales Ratio2: 14%
7
$1,800,000 - $1,999,999
$1,100,000 - $1,199,999
Buyer's Market 38
$2,000,000 - $2,299,999
$1,200,000 - $1,299,999
Total Sales: 95
30
0
$2,300,000 - $2,699,999
$1,300,000 - $1,399,999
Total Inventory: 694
48
17
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,499
$1,050,000
4
4
11
70
16%
3,500 - 4,499
$1,180,000
4
4
36
189
19%
4,500 - 5,499
$1,495,000
4
5
31
180
17%
5,500 - 6,499
$1,700,000
5
6
11
110
10%
6,500 - 7,499
$2,700,000
5
6
4
60
7%
7,500+
$7,000,000
5
8
2
85
2%
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
$1,327,500
743
$1,490,000 $1,252,500
80 Jul-18
82
66
Aug-18
Sep-18
$1,291,750
881
847
751
686
$1,430,000
84
Oct-18
$1,250,000
Inventory
$1,420,000
68
72
Nov-18
Dec-18
63 Jan-19
$1,475,000
1,095
1,039
989
869
$1,350,000
Solds
$1,400,000
$1,391,250
980
79
87
Feb-19
Mar-19
942
$1,350,000
790
133
124
Apr-19
May-19
$1,365,320
694 116
95
Jun-19
Jul-19
MEDIAN DATA INVENTORY June
July
790
SOLDS June
SALES PRICE July
694 VARIANCE: -12 %
95 VARIANCE: -18 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
June
July
313
296 VARIANCE: -5 %
$
$
116
June
July
96.14% 95.65% VARIANCE: -1 %
June
1.35m
$
July
1.37m VARIANCE: 1 % $
DAYS ON MARKET June
July
108
85 VARIANCE: -21 %
SCOTTSDALE MARKET SUMMARY | JULY 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 14% Sales Ratio. • Homes sold for a median of 95.65% of list price in July 2019. • The most active price band is $1,000,000-$1,099,999, where the sales ratio is 36%. • The median luxury sales price for single-family homes has increased to $1,365,320. • The median days on market for July 2019 was 85 days, down from 108 in June 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 | JULY 2019 Inventory
Sales
Luxury Benchmark Price 1: $520,000 $1,250,000+
40
1
$1,125,000 - $1,249,999
8
1
1 1
$1,000,000 - $1,124,999 $900,000 - $999,999
Total Sales: 35
1
$850,000 - $899,999
2
$800,000 - $849,999
$700,000 - $749,999
4
7
14
2 2
0
9
1
$550,000 - $574,999
20
7
$520,000 - $549,999
1
Total Sales Ratio2: 19%
9
1
$650,000 - $674,999
$575,000 - $599,999
12
8
3
$625,000 - $649,999
Balanced Market
10
2
$675,000 - $699,999
12
7
1
$750,000 - $799,999
$600,000 - $624,999
Total Inventory: 187
28
8
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 1,499
$588,750
2
2
2
17
12%
1,500 - 1,999
$557,500
2
2
11
50
22%
2,000 - 2,499
$615,000
3
3
14
62
23%
2,500 - 2,999
$640,000
3
3
5
35
14%
3,000 - 3,499
$782,500
4
4
2
13
15%
3,500+
$1,075,000
3
4
1
10
10%
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
$712,500 $609,950
$568,279
$624,500
$592,500
Inventory
$618,000
$582,500
243 124
115 22
Jul-18
24
13
Aug-18
Sep-18
22 Oct-18
$660,000
$632,500
253
259
$680,000
220
$625,000
$632,500
222
208
161
140
137
126
Solds
20
25
Nov-18
Dec-18
26
Jan-19
31
46
45
48
Feb-19
Mar-19
Apr-19
May-19
$640,000
187 49
35
Jun-19
Jul-19
MEDIAN DATA INVENTORY June
July
208
SOLDS June
SALES PRICE July
187 VARIANCE: -10 %
35 VARIANCE: -29 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
June
July
313
296 VARIANCE: -5 %
$
$
49
June
July
97.00% 98.13% VARIANCE: 1 %
June
633k
$
July
640k VARIANCE: 1 % $
DAYS ON MARKET June
74
58 VARIANCE: -22 %
SCOTTSDALE MARKET SUMMARY | JULY 2019 • The Scottsdale attached luxury market is a Balanced Market with a 19% Sales Ratio. • Homes sold for a median of 98.13% of list price in July 2019. • The most active price band is $1,000,000-$1,124,999, where the sales ratio is 100%. • The median luxury sales price for attached homes has increased to $640,000. • The median days on market for July 2019 was 58 days, down from 74 in June 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
July