Zip code 85254 is currently the hottest market for luxury homes priced $1,000,000 and above. This is the area between Scottsdale Rd and Tatum Blvd and from Shea Blvd to just a tad north of Bell Road.
This zip code does not have the most number of sales in a year but the rate of sales compared to the inventory available in that zip code makes it the hottest market.
So far the annual sales rate for zip code 85254 is 27 sales with only 16 homes active on the market for sale, giving the zip code only 216 days of inventory available. This is the lowest days of inventory for any zip code for luxury homes $1,000,000 or more.
Ahwatukee luxury market is moderate with about 1 year supply of inventory
Ahwatukee zip codes 85044 and 85048 are moderate markets for luxury homes priced $1,000,000 or more, having about a year’s inventory available depending on the current sales.
Zip code 85044 has about 10 homes active for sale with an annual sales rate of 10, while zip code 85048 has 8 active homes with an annual sales rate of 8.
The hottest zip code in the city of Phoenix will be 85018, which is the Phoenix portion of Arcadia with 275 days of inventory available.
East valley luxury market is not very strong.
The east valley cities such as Mesa, Chandler and Gilbert are among of the weakest when it comes to luxury homes priced $1,000,000 or more.
Selling a luxury home in South Gilbert, Cave Creek, North Peoria, South Chandler or Carefree involves a lot of patience right now. – The Cromford Report
This means if you have a luxury home in the east valley to sell, it may take some time, but with the right tools and resources, you could beat the market.