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.


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