By David Baker
Realtor with HomeSmart Realty
Phoenix Luxury Homes for Sale | Market Report August 2014
Let us Define Phoenix Luxury homes?
For purposes of this blog today let us assume a luxury home is anything priced over $1,000,000. While you may find a lot of homes in the Phoenix area that offer an array of luxurious items at under the Million dollar mark, we need a cutoff. There are many areas around Phoenix that offer million dollar homes including: Scottsdale, Ahwatukee, Paradise Valley, Cave Creek to just name a few. For purposes of this article, I will just be taking a look at all Phoenix Luxury homes for sale and recent luxury homes sold in the entire Metro Phoenix area.
Current Phoenix Luxury Homes for Sale just click this hyperlink
Market Report for August 2014
There are 1165 Phoenix Luxury homes for sale, and they offer living space between 1500 square feet and 52000 square feet. The prices of the homes range from $1,000,000 to $32,000,000. In addition to the current homes on market there are an additional 119 Phoenix Luxury homes under contract.
Phoenix Luxury Homes for sale:
· 1165 Homes – Average List Price: $2,307,148
· 227 Average Days on Market
Recent Homes Sold
As for recent Phoenix Luxury homes sold, there were a total of 68. Average sales prices for all Phoenix Luxury homes soldfor the month of August 2014 was $1,651,374. It had an average listing price of $1,791,221 and had stayed on the market for 189 days. Notice that average sales price is 8% less than average list price for the month of August. As a potential seller this is good to know, especially if in either a buyer/seller market to best know how to market home for sale. At this point the luxury market over $1,000,000 as a whole is at 17 months inventory, which is an extreme buyer market. Keep this in mind if considering selling a luxury home, as pricing it right from the start can save you time and MONEY.
For More Information on Phoenix Luxuryreal estate call me at 602.373.6345 or email at dabaker21@msn.com. Looking to sell your Phoenix Luxury home and would like to talk to a realtor about the sales process and determine potential sales price, feel free to call today to request a FREE market evaluation. While this article offers an idea of values for Luxury homes, prices will vary depending on area, size, amenities, age, and of course condition.
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