AZ Luxury Home Report (May 2014) By The Numbers: Prices take a slight dive!

By the numbers:

Most Expensive Home Sold $5,500,000 in FINISTERRE & was also the largest estate at 8,861 sq.ft.
113 sales with a $1,000,000 Price Tag and up
FINISTERRE, Silverleaf, Estancia, & DC Ranch were the subdivisions in which the top five most expensive homes sold in
Average Home Sale $1,526,242 // Median Home Price $1,300,000. Both numbers this month are down from last month (April 2014 by the numbers)
Average Price per square feet $319
Average Days on Market 187
$172,465,374 was the sum ($1 M +) of money transferred, Wow

The month of May was much slower in sales closed (113 Vs. 135 sales of home above 1 Million). The average home price dropped from $1.72M to $1.52M & the median home price dropped to $1.3M from $1.46M. Price per square feet also dropped and days on market increased. All and all this is an indication that the luxury home market is slowing down a little. The summers are brutal when it comes to home shopping because of the excessive heat but if you are a buyer this is a great time to search. If you can withstand the 100-110 degree temps then take advantage + many home owners are looking to unload property before the winter.

Are you looking to buy a Lavish Property, Luxury Home, Mansion, or Penthouse let Lavish pAdZ find you your next dream home at a bargain.

480.458.8007…LavishPadBoutique@gmail.com