q1 2018 – Phoenix Luxury RE market sales higher than last year, no signs of slowing, & another record price broken


in 2018 and does not look like its stopping anytime soon! 

Through the first three months of 2018, Phoenix metro (Maricopa County) $1-million-plus homes market is performing well ahead of the same time period in 2017.

Juan Pesqueira reports sales in the Phoenix metro (Maricopa County) this year to the end of March reached 448 homes compared to 331 homes last year.

The bulk of the sales — 417 — were single-family homes, up from 331 last year.

The condominium market took a small step back with 31 sales of $1 million or more, a small decrease from 34 sales to the end of March last year.

Let’s compare the top 3 luxury home markets

$1,000,000+

2017

2018

Scottsdale 170 223
Paradise Valley 77 102
Phoenix 47 54

Of the sales, the bulk were in the $1-million to $2-million range.

Today (4/2/2018) there are currently 1,997 properties in Maricopa county with a $1,000,000 or more price tag and 359 are pending (CCBS or UCB).

At the end of 2017 we broke a record for the most expensive home ever sold in Arizona, that was in Paradise Valley selling for a whooping $15.65 Million.

Browse all homes for sale Paradise Valley

 

Phoenix, Arizona area Luxury Real Estate market sales higher than last year...
Spectacular mountain and city light views come with this luxurious estate situated on 4 private acres on the 6th hole of the Tom Weiscopf designed Silverleaf golf course and adjacent to the McDowell Mountain preserve’s hiking trails. All the main living areas including the Master suite are located on the first level. The home boasts 5 indoor and outdoor kitchens, 2 elevators, a virtual reality/golf simulator room, gymnasium w/ basketball court, volleyball court and rock climbing wall, home theater, fitness center w/steam room, detached guest house w/ private drive, 8 garages, high-tech game room, estate pool, multiple spas, state of the art security & home automation. Sold $17.5 million by listing agnet Mike Domer of RE/MAX Excalibur and Frank Aazami of Russ Lyon Sotheby’s International Realty lyon was the buyers agent.

Records are made to be broken says Juan Pesqueira with Attorneys Realty, in February of 2018 a luxurious estate situated on 4 private acres on the 6th hole of the Tom Weiscopf designed Silverleaf golf course recorded with a $17.5 million-dollar price tag, making that the most expensive home every sold in Arizona.

Browse all homes for sale in Silverleaf

“Top-tier sales in the first three months of 2018 reflected the buyers’ readiness to act.” We are seeing promising trends that will continue to go up. High inventory gives buyers options. If you’re a buyer be ready to act because the good properties are not lasting even at the top tier markets. Arizona is a bargain for the California, Miami, New York, and other countries. If you’re a seller staying current on the latest trends will be challenging, but crucial. It’s going to be important for consumers to adapt their strategy to market conditions as they will continue to change.” – Juan Pesqueira

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