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Phoenix Luxury Market Report ~ December 2014

Luxury Market Index

Luxury Average Sold Price_Monthly

Luxury Average Days on Market_Monthly

Luxury Transaction_Monthly

Prices in the Phoenix luxury real estate markets typically go up during the winter season and go back down during the summer months. Since the end of the winter in May 2014, the average sold price has increased approximately +8.9% (down from last month), the average days on market have decreased approximately -17.6% (down from last month) and the number of transactions have decreased approximately -6.7% (down from last month). The average price per square foot is approximately $341 PSF, average days on market is 154 days and 112 transactions last month. Since we are now in the winter months we are seeing the average sold price increase, the average days on market decrease and the number of transactions increase.

The luxury market is following its typical trend as we enter the winter months. The statistics for the month of December is showing a trend that the market is improving: the average sold price trend is increasing, the average days on market are decreasing and the number of transactions is increasing. Based on the statistics for the month of December it appears the Phoenix luxury market is following its typical trend during the winter months.

Trying to “time the market” for the perfect time to buy is nearly impossible but there is no better time than now to purchase. The economy is continuing to show signs of improvement in terms the overall economy and the real estate market is start to improve so you might be able to pick up a good deal. Give us a call to discuss your best buying strategy, TODAY!!

Phoenix Luxury Market Report ~ November 2014

Luxury Average Sold Price_Monthly

Luxury Average Days on Market_Monthly

Luxury Transaction_Monthly

Luxury Market Index

Prices in the Phoenix luxury real estate markets typically go up during the winter season and go back down during the summer months. Since the end of the winter in April 2014, the average sold price has increased approximately +0.3% (down from last month), the average days on market have increased approximately +2.3% (down from last month) and the number of transactions have decreased approximately -32.9% (down from last month). The average price per square foot is approximately $329 PSF, average days on market is 177 days and 96 transactions last month. Since we are now in the winter months we are seeing the average sold price increase, the average days on market decrease and the number of transactions increase.

The luxury market is following its typical trend as we enter the winter months. The statistics for the month of September is showing a trend that the market is improving: the average sold price trend is increasing, the average days on market are decreasing and the number of transactions is increasing. Based on the statistics for the month of September it appears the Phoenix luxury market is following its typical trend during the winter months.

Trying to “time the market” for the perfect time to buy is nearly impossible but there is no better time than now to purchase. The economy is continuing to show signs of improvement in terms the overall economy and the real estate market is start to improve so you might be able to pick up a good deal. Give us a call to discuss your best buying strategy, TODAY!!

Position Realty
Office: 480-213-5251

Phoenix Luxury Property Market Report ~ October 2013

Prices in the Phoenix luxury real estate markets typically go up during the winter season and go back down during the summer months. Since August 2013, the average sold price has increased approximately +15.1% (up from last month), the average days on market have decreased approximately -27.5% (down from last month) and the number of transactions have decreased approximately -5.5% (up from last month). The average price per square foot is approximately $344 PSF, average days on market is 166 days and 86 transactions last month. The Luxury Market Index shows the real estate boom from 2004 to 2006 created a great deal of demand in the market and the number of transaction is back down to the 2003 to 2004 levels.

As you can see from the fourth chart above, the luxury market is showing signs of improvement. The luxury market is following its typical trend during the winter months; the average days on market are decreasing and the number of transaction are increasing. These are good signs from the luxury market but we will have to see if this trend continues throughout the winter months. The improving market is contributed to consumer’s sentiment that the overall economy has recovered and lenders are becoming more willing to issue jumbo loans to qualified buyer.

Trying to “time the market” for the perfect time to buy is nearly impossible but there is no better time than now to purchase. Real estate prices are at an all time low and the economy is starting to see signed of improvement both in terms of real estate prices and the overall economy. Time to buy is NOW!! Give us a call to discuss your best buying strategy, TODAY!!

Position Realty
Office: 480-213-5251

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