Luxury Home Sales Are Picking Up In The Valley!
Thanks to an influx of seven-figure listings exceeding demand and an increase in high-priced listing sales, the Valley’s luxury housing market is experiencing a resurgence.
The first quarter of 2017 saw almost 330 Valley homes sold for over $1 million with the Phoenix area enjoying an increase in luxury home sales of more than 30 percent this March compared to last year. Paradise Valley, Scottsdale and Phoenix’s uptown neighborhoods lay claim to most of those sales but some southeast and West Valley communities are getting on board with rising million-dollar home sales.
The month of March also saw Metro Phoenix offering 2,000 active listings with prices at $1 million or more with about 360 of that figure listed at $3 million and above. While the high inventory of upscale listings doesn't spell the same upward trend for selling prices, the increasing number of million-dollar homes going under contract and a proposed tax plan might push prices up in Metro Phoenix’s luxury home market.
If you have any topics or questions you would like answered, contact The Shanna Day Dream Home Team - we’ll find the answers for you!
Shanna Day Dream Home Team
Keller Williams Realty East Valley