Scottsdale Luxury Property Report - August 2019

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