👨‍💼Luxury Home Sales Sinking

By
Real Estate Agent with Arizona Focus Realty SA634540000

💥Luxury Home Sales Sinking


 ☀️For ALL of Your East Valley AZ Real Estate Needs

📞Call or 🙋‍♂Text Brian at 480-773-2370

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Luxury home sales: Is it sinking or soaring? If you're thinking about buying a luxury home, here's what you should know first.  To read the full article...  Click HERE.

 


I specialize in the East Valley of the Phoenix Metro area - Gilbert, Mesa, Chandler, Tempe, Scottsdale, Apache Junction, and Gold Canyon


☀️For ALL of Your East Valley AZ Real Estate Needs

📞Call or 🙋‍♂Text Brian at 480-773-2370

📨Email Brian  ~  Search the MLS for FREE

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Comments (27)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Brian England hi Brian... sorry, I don't know Ashley Tison (good southern name). I wouldn't say Charlotte has become a luxury market. Our median sale prices is still around $400K... a long way from luxury. But... we have certainly become less affordable, especially for first-time buyers.

Aug 05, 2022 05:01 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You are right about that Michael Jacobs, I remember when you would do your posts about affordable homes in the area and I was looking at the prices and thinking that buys luxury in my area, haha.

Aug 05, 2022 05:08 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

$400K is more than double what I paid for my home Nina Hollander, Broker so that seems like luxury to me, haha.

Aug 05, 2022 05:09 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Brian. Sinking! Not here in Chicago as many luxury homes are moving quickly although they are the ones getting the publicity. Time will tell and I expect a bit of a slow down. Enjoy your day.

Aug 05, 2022 05:16 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Good morning, Wayne Martin and Chicago has always seemed like a luxurious place to call home.

Aug 05, 2022 05:19 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

I cannot agree with this yet Brian. Last week we sold a home that was listed in the mid 800's and we won the bid for over $1,000,000!

Aug 05, 2022 05:25 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I actually enjoy hearing that Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 I like when there is competition in all segments of the market.

Aug 05, 2022 05:37 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

In a changing market, one of the first to correct.  As well is the outlying areas. Thank you for the great information in your blog today to share with us here on the Rain.  Make it a terrific day! bill

Aug 05, 2022 06:18 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I agree Bill Salvatore - East Valley and it is a sign, along with the builders starting to struggle as well.

Aug 05, 2022 06:39 AM
Roy Kelley
Retired - Gaithersburg, MD

Good Friday morning, Brian. The market for luxury homes is still strong in our area.

Have a great day and an outstanding weekend.

Aug 05, 2022 07:27 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Brian, we aren't exactly seeing this in Denver either.   We are seeing more inventory, days on market are a BIT longer, but wouldn't say it is sinking.

Aug 05, 2022 07:50 AM
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Brian

Not the case here either. A home just sold here for over $20 M in 30 days. Just the time  for escrow, cheers cvc

Aug 05, 2022 08:35 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Brian I would imagine that luxury homes like everything else these days are also being impacted by inflation.

Aug 05, 2022 09:25 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

That sounds like a good thing for your area Joan Cox and I hope that it continues for you!

Aug 05, 2022 10:36 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I would imagine in that range Curtis Van Carter they are cash purchases and can move along more quickly towards closing.

Aug 05, 2022 10:37 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I would be surprised if anything is not being affected by the recent inflation we have seen George Souto 

Aug 05, 2022 10:38 AM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi BRian- I did not expect an 18% drop!  It will be interesting to see what unfolds with this market. 

Aug 05, 2022 11:28 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Yes, waiting to see how things unfold should be interesting Kathy Streib and I have my popcorn ready, haha.

Aug 05, 2022 01:37 PM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

It's a great time to buy luxury - everything is wheelin' & dealin' these days!
Great post Brian!

Aug 07, 2022 07:16 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You are right about that Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets everything is wheelin' & dealin' these days!

Aug 07, 2022 07:42 AM