Phoenix Luxury Home Market Quarterly Update

Phoenix Luxury Home Market Quarterly Update
Phoenix Luxury Home Market Quarterly Update
Phoenix Luxury Home Market Quarterly Update
Phoenix Luxury Home Market Quarterly Update
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Phoenix Luxury Home Market Quarterly Update, 1st Qtr 2013

Transcript of Phoenix Luxury Home Market Quarterly Update

  • 1Luxury Market Quarterly Update Phoenix, Arizona - First Qtr 2013The Phoenix Luxury Home Market showed a more positive sign than it did the same time last year. This past quarter, there were 2,678 new luxury homes and condos priced $500,000 or more that were put on the market for sale. This was about a 30% increase from only 2,045 luxury properties that came up for sale, same time last year.

    3510 luxury homes were on the market for sale during the 1st Qtr of 2013.

    Most were priced less than $1,000,000 with 1552 of the luxury homes and condos priced higher than $1,000,000.

    Number of New Luxury Homes listed for sale Q1 2013

    Price Range # listed$1,000,000 to $1,499,999 554

    $1,500,000 to $1,999,999 483

    $2,000,000 to $2,999,999 272

    $3,000,000 to $3,999,999 118

    $4,000,000 to $4,999,999 46

    $5,000,000 plus 79

    Dorette Oppong-Takyi is a Luxury Home Specialist in Phoenix AZ, USA

    A member of the Institute for Luxury Home Marketing

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  • 2Luxury Homes in Phoenix that were successfully sold during the first quarter were sold after being on the market, after an average of 116 days. There were a total of 1,159 real buyers who actually showed up at closing, signed the papers and walked away with the keys in hand. 922 out of them paid below $1,000,0000.

    Most Expensive home sold The most expensive home sold for

    $7,725,456 after being on the market for 46 days. It was originally put on the market for $9,775,000 in Phoenix. It was a 14, 312 square foot 2 story home in Redrock subdivision and was paid for in cash.

    Homes sold for $5 million plus4 homes were sold for more than

    $5,000,000 after being on the market for an average of 358 days.

    The longest one took 655 days to sell. It was originally listed for $7,195,000 and was sold for $6,665,000.

    Number of Real Buyer who paid over $1,000,000

    Price Range # of buyers$1,000,000 to $1,499,999 138

    $1,500,000 to $1,999,999 61

    $2,000,000 to $2,999,999 26

    $3,000,000 to $3,999,999 8

    $4,000,000 to $4,999,999 0

    $5,000,000 plus 4

    To find out how the market is doing in a specific subdivision or neighborhood, please call /text me on 480-442-0779 or email me at dorette@luxurylivinginphoenix.com

    The most expensive Condo sold for $3,600,000 after just 12 days on the market after been listed for $3,800,000 and was financed through seller carry back

    How well are Luxury Homes selling in the Phoenix Luxury Market?

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    Looking to Sell your Luxury Home?You will receive a personalized report for your home and a free consultation. email me at dorette@luxurylivinginphoenix.com or call me on 480-442-0779.

  • 3The Residences at 2211 Camelback Condominium is our featured Luxury High Rise Condominium for this issue.

    Located in heart of Phoenix, on Camelback Road and 32nd St, This luxury Condominium is very close to Sky Harbor International Airport.

    Living in this luxury condominium gives you access to lots of shopping, restaurants and businesses within walking distance or short driving times.The Residences at 2211 Camelback Condominium has 12 floors with 85 units with an average of 2590 square feet of living space.

    Built by Patrinely McCarthy, in 2006, the largest unit, unit 1105 is 6586 square feet in size as a result of combining units 1105 and 1106 together.

    The smallest unit, unit 103, has 541 square feet of living space.

    Only 4 units has been sold in the past 6 months, with 3 currently for sale priced between $657,000 to $1,150,000.

    AmenitiesThe Residences at 2211 Camelback Condominium offers the ultimate experience in luxury high rise living.

    Valet parking for residents and visitors, Concierge services, pet services, 24 hour security and guard.

    Some of the other amenities you can enjoy when living in the Residences at 2211 Camelback Condominium include access to a rooftop pool, fitness center, business center with conference room.

    Call me on 480-442-0779 to schedule a private viewing of any of the units for sale.

    Only 4 units has been sold in the past 6 months in The Residences at 2211 Camelback Condominium selling after average on 115 days on the market.

    There are currently 3 units for sale priced between $657,000 to $1,150,000.

    Residences at 2211 CamelbackFeatured Luxury Condominium

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    The Residences at 2211 Camelback Condominium

  • LUXURYHOMEQUARTERLY is a quarterly Phoenix Luxury Home Market Update publication by Dorette Oppong-Takyi.

    Dorette Oppong-Takyi is a Luxury Home Specialist in Phoenix, AZ, USA and a member of the Institute for Luxury Home Marketing.

    Coming from a science background, she applies her analytical, fact based and data driven contributions to every real estate transaction she is involved in. She is well versed with the trends and statistics of the Phoenix Real Estate market.

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    Dorette Oppong-TakyiLuxury Home Consultant Phoenix, AZKeller Williams Realty East Valley2077 E Warner Road, #110Tempe, AZ 85284