Supply up AND sales volume up…

The Arizona luxury market (and much of the Northeast Valley) is doing the opposite of the rest of the Greater Phoenix area. In most parts of the valley, the supply of active listings is down and sales rates are well down. The higher prices are compensating somewhat for the low unit volumes. In the luxury market (over $500,000), supply of active listings is up to the highest level we have seen for 2 years. However sales volume is up to an even greater extent and so the extra supply does not have a dampening effect on the market. Dollar volume in the market for homes over $500,000 is up 48% comparing February 2012 and 2013.

Courtesy of The Cromford Report

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David E Smith
Russ Lyon Sotheby’s International Realty
david.smith@russlyon.com
www.DavidESmith.us
602-617-7831  Call or Text