Sunday, November 23, 2014

Luxury home sales slow in September

More owners of metro Phoenix's high-end houses are trying to sell, but there fewer buyers in the market for a house costing between $500,000 and $3 million.

The Valley's luxury housing market had been bucking the overall slowing trend until recently.

In September, 213 houses priced above $500,000 sold in east Phoenix and the northeast Valley. That's down 10 percent from August and down 7 percent from September 2013, according to the latest Luxury Market Summery published by Walt Danley and Arizona housing analyst Mike Orr's Cromford Report.

The report tracks luxury home sales in Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek and Carefree, where most of metro Phoenix's more expensive neighborhoods are located.


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