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.

 

Phoenix luxury market average listing price 2-17-2015

Phoenix Luxury Market Average Listing Price 2-17-2015

 

 

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.

 

Phoenix luxury homes inventory 2-17-2015

Phoenix luxury homes inventory 2-17-2015

 

 

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 luxury homes that have been reduced 2-17-2015

Phoenix luxury homes that have been reduced 2-17-2015

 

 

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.

 

Average Phoenix luxury home prices compared to national average 2-15-2015

Average Phoenix luxury home prices compared to national average 2-15-2015

 

 

>>> Read This week’s Luxury Housing Report Here, Courtesy of the Institute for Luxury Home Marketing 2015_02_16

 

 

 

 

Summary
Phoenix Metro Area Luxury Market Update 2-17-2015
Article Name
Phoenix Metro Area Luxury Market Update 2-17-2015
Description
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.
Author