Arizona Luxury Homes
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Home | $800~$2M | $2M~$4M | $4M~$6M | $6M+ | Condos~THs | Open House | Market Report | Office Listings | Sellers | ~ Select Cities ~ Cave Creek | Paradise Valley | Phoenix | Scottsdale
Welcome to Arizona Luxury Homes where we hope you enjoy your time here. Your Search Results will appear below showing the “Newest Listings” first. We also provide Live Video Previews for your favorite Luxury Homes! 🙂
Prices / SqFt
(for all Luxury Homes ~ $800+)
The March 2020 selling price per square foot of $322 was down -5.6% from $341 last month and down -3.6% from $334 in March of last year.
We can currently see (2,401) Homes (in this price range $800+) available today in Arizona. 🙂
Arizona Luxury Homes ~ Newest Listings
Arizona Luxury Homes ~ Monthly Market Report
Our February property sales (for all Luxury Homes) were were 444, up from 312 in March of 2019 and 18.7% higher than the 374 sales last month. March 2020 sales were at their highest level compared to March of 2019 and 2018. March YTD sales of 1,127 are running 55.7% ahead of last year’s year-to-date sales of 724.
Our median sales price (for all Luxury Homes) in March was $1,100,000, down -4.3% from $1,150,000 in March of 2019 and down -5.4% from $1,162,500 last month. The average sales price in March was $1,392,180, down -11.6% from $1,574,650 in March of 2019 and down -4.3% from $1,454,515 last month. March 2020 ASP was at a mid range compared to March of 2019 and 2018.
Inventory and Market Time
Our total inventory of Arizona Luxury Homes for sale as of March was 2,652, up 1.6% from 2,611 last month and down -11.4% from 2,992 in March of last year. March 2020 Inventory was at the lowest level compared to March of 2019 and 2018.
Our average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for March was 94, down from 114 days last month and down from 121 days in March of last year. The March 2020 DOM was at its lowest level compared with March of 2019 and 2018.
Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market. Thus, the selling price per square foot is a more normalized indicator on the direction of property values. Our March 2020 selling price per square foot of $322 was down -5.6% from $341 last month and down -3.6% from $334 in March of last year.
Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. Our March 2020 selling price vs list price of 93.5% was down from 93.8% last month and up from 93.2% in March of last year.
Contact Us Here
Whether you’re thinking about buying or selling, you can contact us directly to discuss your local market. We’d love to be your trusted real estate adviser if you’re looking to make a change this year. Please feel free to contact us with any questions, as we will be happy to hear from you. – Thanks!! (480)208-7955 ~ Our Office is located here, and you can also see us at Paradise Valley Homes 🙂