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The Luxury Home Market
“I know a luxury home when I see one” said an agent. While the definition of a luxury home differs from agent to agent, this report examines different ways of looking at the luxury home market. The following is in this report:
• Greater Phoenix homes sales over $800,000 showing the number of short sales and lender-owned sales and the estimated months of supply. A Valley luxury tour recently reduced their definition of a luxury home from any home priced at $1,000,000 or more to a home priced at $800,000 or more.
• We look at The Scottsdale luxury market two different ways: Home sales between $1,000,000 and $1,999,999 and home sales between 4,000 and 5,000 square feet.
• For the city of Paradise Valley we review sales over $2,000,000. There is a table comparing the Original List Price to the Sold List Price for price reductions. Many comparable market reports compare the most recent List Price to the Sold List Price and not the Original List Price. This may distort things a little.
• For Fountain Hills there is a table showing home sales over $800,000.
While the categories below include luxury homes but not all homes in these categories may be luxury homes, the tables and charts do show trends for more expensive homes sales in the Valley.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team!!
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