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. The onset of summer has once again prompted a few months of di-minished real estate activity, following a fairly healthy spring. Often, a number of buyers and sellers flee out of state from June through August, explaining the drop in activity in the luxury sector. Around this time of year, many of our own listings go “temporarily off market,” or TOM, and get sent to our private inventory - a great way for sellers to quietly market their homes during the slow months without adding to the days on market. If you are thumbing through these pages in search of the perfect property, be sure to keep an eye out for our private listings. Supply True to the season, a significant number of luxury listings dropped off the MLS in June. As of July 1, there were 2,530 offered for sale, down 14 percent from the 2,950 we saw on June 1. A shrinking inventory tends to go hand-in-hand with high demand. During seasons with greater real estate activity, new listings will pop up to replenish those that closed. That is not often the case in Phoenix during the summer, when new luxury listings are rare. Healthy sales figures in June, com- Summer 2015 Luxury Market Stats By: Walt Danley
Danley Portfolio - Summer 2015
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