Our 7 day average listing price is a little over $944,000, which is slightly higher than our 90 day average price of a little over $934,000.
This shows an increase in our average listing price over the past few days.
Inventory of Luxury Homes In Phoenix Metro Area
Our 7 day average of luxury homes available for sale in Phoenix is a little over 3289, the highest so far in the past 12 months.
The 90 day average of available luxury home for sale shows a dip around late October 2014 and starting to increase in November and has been a steady rise since then.
Luxury Home Buyers have a bit more edge in our Phoenix market at the moment with the increase in inventory.
Percentage of Active Luxury Homes with Price Reductions
Due to the increase in inventory in the higher end market, the average percentage of homes for sale with price reductions has increased to about 39%.
Phoenix Market compared to National Market
We are still in a buyer’s market in the Phoenix Metro Area when it comes to luxury homes but a very cool buyer’s market. Our average price is $935,815 with a higher inventory of about 2987 compared to the national market.