The U.S. housing market continues strong into the third quarter. Trends continue for luxury home buyers to seek a smaller contemporary home at a lower price. This demand has encouraged the development of state-of-the-art, amenity driven complexes and homes with smart, space-saving architecture. The goal of today’s luxury buyer is to minimize time, have easy access to travel, and the ability to focus on favorite activities. This also lends itself to owning multiple homes in different areas of the world.
THE REPORT MIRRORS THE NATIONAL ASSOCIATION OF REALTORS INDICATING AN INCREASED DEMAND FOR HOUSING, WITH MORE INTERESTED BUYERS THAN ACTIVE SELLERS. WHILE INVENTORY MAY BE INCREASING, THERE IS STILL A SHORTAGE OF SUPPLY
HOME BUYER TRENDS:
- Towns/Cities being revitalized with redeveloped industrial, dockyards and warehouse districts (think San Francisco)
- Sustainability or “Green” is trendy: Buyers are paying top dollar for properties that use green building technology, carbon neutrality, natural design elements and cleaner healthier air and materials :0
- Overall, the affluent are downsizing, forgoing materialistic goods and investing more in luxurious, comfortable, healthy homes that provide more time for life interests and priorities
The North America Luxury Market Update is a monthly report well respected in the Residential sector. It provides an overall analysis with trends and showcases comparative data on the top-residential markets throughout Canada and the United States. Included are focus reports on Phoenix, Scottsdale and Paradise Valley. The full report can be viewed at this link: Luxury Market Report
ARIZONA SINGLE FAMILY LUXURY:
- PHOENIX ($500,000+): Seller’s Market with a 30% Sales Ratio.
- SCOTTSDALE ($950,000): Buyer’s Market with a 14% Sales Ratio.
- PARADISE VALLEY ($1,650,000): Buyer’s Market with a 9% Sales Ratio.
If you would like a print version of any of my housing market reports, or if I can help you buy or sell anywhere in North America, please let me know below, email or text!
About the Author: Denise van den Bossche has been a licensed Agent and homeowner for over 35 years in the Metro Phoenix Valley. To CONTACT Denise, please call 602.980.0737 or EMAIL: Denise@AZMultipleListingService.com. Her husband Patrick is President of Realty Executives International, so if you need help buying or selling homes anywhere in the U.S. or Canada, please call, email or text!
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