SELLING LUXURY ARIZONA Our market report analyzes single family homes over $500,000 in all areas of the Northeast Valley, including Scottsdale, Paradise Valley, Arcadia, Biltmore, Carefree, Cave Creek, Fountain Hills and Rio Verde. The sun is shining, the spring season is here and it is a terrific time to pur-chase a home. Inventory levels at a five-year high in the luxury market and there are plenty of great deals to be had. While year-to-date sales have been decent, continued turbulence in the global financial markets has caused many buyers to be more patient in their search. Most of the indices we track are leaning slightly in the buyer’s favor, but there is a silver lining for sellers – properties under contract are up year-over-year in all price ranges. Here is a high-level overview of the current state of the luxury market: Supply The supply of active listings over $500,000 rose strongly in the first quar-ter, reaching by far its highest overall level in the last 5 years. On March first, there were 3,622 homes offered for sale, up 9% from the 3,325 we saw on February first. This leaves us with 13% more active inventory than Spring 2016 Luxury Market Stats By: Walt Danley
Danley Portfolio - Spring 2016
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