SELLING LUXURY ARIZONA This summary looks at single-family homes over $500,000 in all areas of the Northeast Valley, including Scottsdale, Paradise Valley, Arcadia, Biltmore, Cave Creek, Carefree, Fountain Hills and Rio Verde. Supply As predicted, September turned out to be the low point for active listings over $500,000 and we have 2,765 as of October 1, 2016. This is 7% more than last month and 13% more than last year at this time. Last year supply grew strongly from this point until April, making life more difficult for sellers and easier for buyers. 98% of active listings are normal with 48 short sales and 13 lender-owned properties. The dip in supply was fairly consistent across all price ranges, although the range from $500,000 to $600,000 showed the smallest rise. Demand - Sales There were 321 closed transactions though ARMLS during September 2016, the highest September total since 2005. They were up 5% from September 2015. Sales between $600,000 and $1 million were down compared with a year ago, but sales between $500,000 and $600,000 were especially strong compared with September 2015. There were seven sales over $3 million, which is higher what we typically see in September and much stronger that the single $3 million sale in 2015. Fall 2016 Luxury Market Stats By: Walt Danley
Danley Portfolio - Fall 2016
To see the actual publication please follow the link above