The Luxury Home Market for Phoenix Arizona showed very strong sales in the lower price bands than the higher ones as expected because there are usually more homes for sale and more people can afford the lower price than the higher price.
Luxury Homes sales did much better than luxury condo sales for the first quarter of 2013. 192 homes prices over $500,000 sold in Phoenix during January 1, 2013 and March 2013 as compared to only 9 condos selling. Read more about the Luxury Condo Market in Phoenix AZ for the first quarter of 2013.
The most expensive luxury home sold in Phoenix during the first quarter was sold for $7,752,456.
How many luxury homes decided to sell during the first quarter in 2013?
401 luxury home owners put their homes on the market in Phoenix during the first quarter in 2013.
During the first quarter, there were 437 homes available for sale including the 401 new luxury homes that came up for sale.
132 of these homes were priced more than a million dollars with only 4 homes being priced over the $5,000,000.
How real Luxury Home buyers were there in Phoenix during the first quarter?
The Phoenix Luxury Home Market saw a total of 192 real buyers who showed up an closing and walked away with the keys to a luxury single family home.
160 of these buyers purchased homes priced below a $1,000,000 with 32 of these buyers purchasing luxury homes for more than $1,000,000.
Only 1 buyer(s) bought a luxury home priced over $5,000,000. For the price point over a million dollars, 29 buyers bought homes priced between $1,000,000 and $2,999,999. The price band that saw the most buyers were homes priced between $500,000 and $599,999
How long did luxury home sellers have to wait before selling their homes in Phoenix?
The most expensive luxury home sold at 7,725,456 after just 46 days on the market in Phoenix during the first quarter of 2013. All other homes sold after being on the market for an average number of at least 55 days.
The homes listed below $1,000,000 sold after being on the market for a much shorter time than those priced over a million dollars.
This was a snapshot of the luxury home market for only the city of Phoenix, Arizona during the first quarter of this year.
Contact Dorette Oppong-Takyi, A Luxury Home Market Specialist in Phoenix, AZ, USA to find out more about the luxury real estate market for Scottsdale, Paradise Valley, Chandler and more.