$508 $461 $251 SellingLUXURYARIzONA has been weaker over the last ten months. The 12-month moving aver-age reached its low points in August 2011 and February 2012 at around $219 per square foot. Over the past three years, it has risen to $269, an increase of 23 percent from the lows. The aver-age under contract price has been less consistent since hitting a peak of $257 in March last year, making occasional small jumps upward and retreating back to $256 per square foot as of July 1, 2015. This is still a significant improve-ment from the $165 per square foot low reached in September 2011, however, and overall, I am expecting a contin-ued slow but steady trend for the time being. A Successful Summer As far as summers go, the luxury mar-ket is doing pretty well. June’s sales were hopeful, under contract num-bers were strong and maybe we can finally put last year’s drooping num-bers behind us. The seasonal drop in supply is neither alarming nor unwel-come, being driven by the normal an-nual cycle as well as a large number of sales. Prices are still rising, though at a slower and more sustainable rate than in previous years. No doubt we’ll see many of our listings return in the fourth quarter, and I am expecting continued success through 2015. v If you are wondering where your real estate needs meet today’s luxury mar-ket, please contact us for a personal consultation at (480) 991-2050. View our latest luxury market report at www.WaltDanley.com/marketstats. AVERAGE PRICE PER SQUARE FOOT BY PRICE RANGE Active listings are as of June 15, 2015. Sold listings are from January 1, 2015 to June 30, 2015 Active Sold (Last 6 Mo.) $800 $700 $600 $500 $400 $300 $200 $100 $0 <$1M $1-2M $2-3M $3-5M $5M+ $274 $336 $306 $398 $394 $490 $434 $766 $618 Paradise Valley $260 $800 $700 $600 $500 $400 $300 $200 $100 $0 $1-1.5M $1.5-2M $2-3M $3M+ $222 $215 $283 $271 $334 $372 $413 $372 $640 $539 Scottsdale $500K-$1M $800 $700 $600 $500 $400 $300 $200 $100 $0 $500K-1M $1-1.5M $1.5-2M $2M+ $216 $194 $250 $270 $350 $361 $426 $384 $619 $338 Biltmore <$500K $800 $700 $600 $500 $400 $300 $200 $100 $0 $750K-1.25M $313 $296 $380 $343 $1.25-2M $2+ $475 $458 Arcadia $256 $258 <$750K SPECIAL REPORT
Danley Portfolio - Summer 2015
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