Phoenix, AZ LuxurY HomE Real Estate Market in a Nut Shell! Get OFF The Fence Inventory Down, Sales Up !

http://www.HomesScottsdaleFor.com – http://www.Homes-ParadiseValley.com

Realtor Juan Pesqueira

 480.458.8007

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Right now the hottest market and the market that has done a complete 360 is the Phoenix Real Estate Market below $250,000. This market has negative month supply, multiple asking prices; cash is king, and buyers out bidding to get a property in escrow.

Toward the end of the year the Luxury Home Real Estate Market had a bunch of homes listed for sale and over 30 plus month supply. As we go into April and compared to March 2012 the inventory is beginning to drop and in some price ranges drop significantly.  Yes the Million Dollar plus price range still has a lot of supply and inventory for buyers to choose but look at the huge drops from 14.9 to 7.9 ($1,000,000 – $1, 500, 00), 94.3 to 25.3 ($2,000,000 – $2,999,999), 99.0 to 24.5 ($3,000,000 – $3,999,999) and even 34.0 – 17.5 ($4,000,000 – $4,999,999).  The time to buy any Luxury Home, Mansion, Penthouse Condo, Private Estate, Hill side property, etc is now. Just recently we sold the most expensive home in PV 10.5 Million (bank Owned), 5 Million Dollar auction sales in Paradise Valley and Scottsdale, and currently a bank owned home listed on top of the mountain in Paradise Valley listed at 1.4 Million already has over 10 offers beginning at 1.6 Million.  There is a reason buyers are flying from all over the country to purchase these low priced luxury homes in Arizona.

Don’t be sitting on the bench while the game is being played. Take advice from the buyers in the Phoenix Arizona Market buying a home priced from $250,000 and below to stop waiting, the market is turning, and the great properties are being sold.  Don’t pass the opportunity, because in the Luxury Home Market prices go up fast call us today 480.458.8007 or visit our SITE and tell us what you are looking for in your next fabulous estate. Lets schedule you a tour of our Arizona Desert Estates Now.

Estimated months of supply by price range

 

Comparison

Estimated Months of Supply

On March 13 On April 12

Data from ARMLS

Residential Sold

Price Range

March 13th Estimated

Months Supply

April 12th Estimated

Months Supply

$500,000 – $599,999

5.9

4.1

$600,000 – $699,999

6.2

5.1

$700,000 – $799,999

6.5

6.0

$800,000 – $899,999

15

6.8

$900,000 – $999,999

17.9

13.4

$1,000,000 – $1,499,999

14.9

7.9

$1,500,000 – $1,999,999

24.2

21.8

$2,000,000 – $2,999,999

94.3

25.3

$3,000,000 – $3,999,999

99.0

24.5

$4,000,000 – $4,999,999

34.0

17.5

Over $5,000,000

?

29.0

Total

1.8

1.3

How single family homes were purchased page

Maricopa County

March 2012

How Luxury Single Family Detached Homes Were Purchased

By Price Range

Data from ARMLS

Residential Sold Price Range

Sales

Cash

Purchase

(No.)

Cash

Purchase

(%)

Conv.

Loan

(No.)

Conv.

Loan

(%)

Other

(No.)

Other

(%)

Total

$500,000 – 599,999

107

34

32%

71

66%

1

1%

$600,000 – $699,999

59

23

39%

34

58%

1

2%

$700,000 – $799,999

42

16

38%

25

60%

1

2%

$800,000 – $899,999

30

15

50%

15

50%

0

0%

$900,000 – $999,999

12

4

33%

8

67%

0

0%

$1,000,000 – $1,499,999

49

27

55%

22

45%

0

0%

$1,500,000 – $1,999,999

12

7

58%

4

33%

1

8%

$2,000,000 – $2,999,999

11

8

73%

3

27%

0

0%

$3,000,000 – $3,999,999

4

1

25%

3

75%

0

0%

$4,000,000 – $4,999,999

2

2

100%

0

0%

0

0%

Over $5,000,000

2

2

100%

0

0%

0

0%

Totals