How long to sell a Luxury Home in Phoenix Az? November 2016
The answer to the question is that the length of time to sell a luxury home in Phoenix Az varies. Yet, we can look at some information which can give you a general idea, based on other homes in the Phoenix area.
Information is gathered from the MLS (multiple listing service) on ALL properties that are currently on market, under contract or recently sold that are priced over $1,000,000. This will include all areas within our MLS boundaries, and again, all property types.
What is the average time on market for luxury homes at this time?
221 days is the current average
4076 days is the longest time on market
What is the average time on market for luxury homes currently under contract?
165 days is current average for time to get home under contract
736 is current longest time for home
What is the average time on market for luxury homes that have sold in the last 30 days?
678 was longest time
How much current inventory is available on market, and does it benefit buyer or seller?
Quick Commentary - While time on market is considerably longer for the luxury home market, homes are still selling. The ARMLS (arizona multiple listing service) saw a total of 116 luxury home sales in the last 30 days, so they are indeed selling. With a 16.31 month inventory though, the market does indeed favor buyers, and buyers do have a LOT of choices at this time. In order to make sure and be one of the homes going under contract, and selling, one should be sure to price right and market aggresively.
To see all homes over $1,000,000 on the market at this time, CLICK HERE
Interested in Selling? Request a no obligation current market analysis appointment for your home. We can discuss the real estate market, the current housing competition for similar homes, best sales strategies to use, and of course likely home sale price. Request yours today