Scottsdale Luxury Property Report for September 2019

Luxury Property Report Scottsdale Arizona September 2019

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

SCOTTSDALE

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | AUGUST 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

33

0 20

0

30

1

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

58

45

2

60

3

71

7

87

6

48

6

51

6

$1,100,000 - $1,199,999 $1,000,000 - $1,099,999

54

11 29

6

$950,000 - $999,999

1

Total Sales Ratio2: 10%

4

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

Buyer's Market 36

4

$2,300,000 - $2,699,999

$1,800,000 - $1,999,999

Total Sales: 71 34

1

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

$2,000,000 - $2,299,999

Total Inventory: 696

40

14

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,499

$992,500

4

4

12

70

17%

3,500 - 4,499

$1,275,000

4

4

31

190

16%

4,500 - 5,499

$1,364,650

4

5

17

188

9%

5,500 - 6,499

$2,370,000

5

6

7

103

7%

6,500 - 7,499

NA

NA

NA

0

61

0%

7,500+

$2,392,083

6

8

4

84

5%

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

$1,490,000

$1,430,000

$1,252,500

686

881

847

751

82

66

Aug-18

Sep-18

$1,291,750

84

Oct-18

$1,250,000

$1,420,000

68

72

Nov-18

Dec-18

$1,350,000

63 Jan-19

$1,475,000

Solds

$1,391,250

1,095

1,039

989

869

Inventory

980

79

87

Feb-19

Mar-19

$1,400,000

$1,350,000

942

124

Apr-19

790

133

$1,365,320

696

694 116

May-19

$1,275,000

Jun-19

95

71

Jul-19

Aug-19

MEDIAN DATA INVENTORY July

August

July

696 VARIANCE: 0 %

95

694

SALE PRICE PER SQFT. July

August

296

$

SOLDS

304 VARIANCE: 3 % $

SALES PRICE August

71 VARIANCE: -25 % SALE TO LIST PRICE RATIO July

August

95.65% 95.81% VARIANCE: 0 %

July

1.37m

$

August

1.28m VARIANCE: -7 % $

DAYS ON MARKET July

August

85

101 VARIANCE: 19 %

SCOTTSDALE MARKET SUMMARY | AUGUST 2019 • The Scottsdale single-family luxury market is a Buyer's Market with a 10% Sales Ratio.

• Homes sold for a median of 95.81% of list price in August 2019.

• The most active price band is $950,000-$999,999, where the sales ratio is 35%.

• The median luxury sales price for single-family homes has decreased to $1,275,000.

• The median days on market for August 2019 was 101 days, up from 85 in July 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 | AUGUST 2019 Inventory

Sales

Luxury Benchmark Price 1: $520,000 $1,250,000+ $1,125,000 - $1,249,999 $1,000,000 - $1,124,999 $900,000 - $999,999

$850,000 - $899,999 $800,000 - $849,999 $750,000 - $799,999

37

0 7

1 1

2

Total Sales: 32

$625,000 - $649,999 $600,000 - $624,999

6

1

13

1 7

4

15

1 8

2

11

1

2

3

$575,000 - $599,999 $550,000 - $574,999

13

7

16

3

$520,000 - $549,999

1

Total Sales Ratio2: 16%

10

1

$650,000 - $674,999

Balanced Market

15

1

$700,000 - $749,999

$675,000 - $699,999

Total Inventory: 194

31

6

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,499

$769,500

2

2

2

20

10%

1,500 - 1,999

$575,000

2

2

11

49

22%

2,000 - 2,499

$607,500

3

3

10

70

14%

2,500 - 2,999

$702,000

3

3

6

32

19%

3,000 - 3,499

$700,000

3

4

3

13

23%

3,500+

NA

NA

NA

0

10

0%

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

$624,500

$568,279

$592,500

$618,000

Inventory

$582,500

243

115 24

13

Aug-18

Sep-18

22 Oct-18

$632,500

253

259

$680,000

220

$625,000

$632,500

222

208

161

140

137

126

$660,000

Solds

20

25

Nov-18

Dec-18

26

Jan-19

31

46

45

48

Feb-19

Mar-19

Apr-19

May-19

$640,000

$607,500

187

194

49

Jun-19

35

32

Jul-19

Aug-19

MEDIAN DATA INVENTORY July

August

July

194 VARIANCE: 4 %

35

187

SALE PRICE PER SQFT. July

$

SOLDS

August

296

298 VARIANCE: 1 % $

SALES PRICE August

32 VARIANCE: -9 % SALE TO LIST PRICE RATIO July

August

98.13% 98.25% VARIANCE: 0 %

July

640k

$

August

608k VARIANCE: -5 % $

DAYS ON MARKET July

August

58

69 VARIANCE: 19 %

SCOTTSDALE MARKET SUMMARY | AUGUST 2019 • The Scottsdale attached luxury market is a Balanced Market with a 16% Sales Ratio.

• Homes sold for a median of 98.25% of list price in August 2019.

• The most active price band is $600,000-$624,999, where the sales ratio is 67%.

• The median luxury sales price for attached homes has decreased to $607,500.

• The median days on market for August 2019 was 69 days, up from 58 in July 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