Welcome to The Noble Agency's Mid-Year INSIDER Update!
As the Valley's premier real estate brokerage, we are excited to bring you the latest insights and trends shaping our dynamic market. From the soaring heights of ultra-luxury homes to the rising opportunities in the affordable luxury sector, our comprehensive analysis covers the spectrum of real estate offerings across the Valley.
In this update, we delve into key market statistics, showcasing the performance and growth of luxury and affordable luxury properties. Additionally, we'll highlight some of the top cities in the Valley, offering a closer look at the unique market conditions and trends driving these vibrant communities
Thank you for joining us as we navigate the exciting developments in the Valley's real estate landscape. We are committed to providing you with valuable insights and expert perspectives to help you make informed decisions in this ever-evolving market.
Noblexoxo,
City Spotlight: Scottsdale
City Spotlight: Phoenix
City Spotlight: Paradise Valley
City Spotlight: Cave Creek + Carefree
City Spotlight: Fountain Hills
City Spotlight: Chandler
City Spotlight: Gilbert
City Spotlight: Mesa
Maricopa County Residential Real Estate
Closings $1.5M +
CLOSINGS 1,523 $4.1 BILLION
Last year 1,283 closed The first half of 2024 we are trending 18.4% more luxury closings than last year
In the first half of 2023 we had closesd $3.6 billion. This year we are up 15 3% in total luxury sales volume.
$2,72M $619.36
AVG. SALES PRICE
Last year ’ s mid-year average sales price was $2,797,414. We are trending 3% lower in 2024
AVG. PRICE SQFT
We are currently seeing a 2% increase in the average sold price per square foot compared to $606.26 mid-year 2023.
SALES TO LIST 96% 88 DAYS ON MARKET
The sales to list price percentage remains unchanged year-over-year
The cumulative days on the market also remain unchanged year-overyear.
CLOSINGS
4,270 $4.2 BILLION
Last year 3,821 homes had closed by mid-year. In the first half of 2024 we are trending 11 8% higher
In the first half of 2023 we closed $3.7 billion. This year we are up 12% in total sales volume
$979K
AVG. SALES PRICE
The average sales price is up by approximately $2k over last year, a negligible change
$359.89
AVG. PRICE SQFT
The average price per sqft has increased $9.17 or 2.6% over last years average of $350 72
SALES TO LIST 98%
The sales to list price percentage improved by 1% over the first half of last year.
71 DAYS ON MARKET
The cumulative days on the market for this price range has improved by 4 days compared to 2023.
Our in-depth analysis of the Valley's top cities reveals dynamic trends. These cities are leading the way in providing exceptional living experiences in both the luxury and affordable luxury segments.
Don’t see your city? Want more details about your community? Contact us for a custom review tailored to your city or specific community. Reach out today to gain the insights you need to make informed real estate decisions!
