November 16, 2021
Real Estate

3 highest-price neighborhoods driving hot housing market

The Metro Phoenix housing market is red-hot right now, but the highest-price neighborhoods are even outperforming the rest of the market.

• In May, the median listing price for a home in the Phoenix-Mesa-Scottsdale market was $450,000, a 17.1 percent year-over-year increase.

• In April, 655 million-dollar home sales closed. To put that into perspective, fewer than 200 million-dollar home sales closed in April of 2020.

• The number of homes that sold in April with prices in excess of $3 million was 73, a 66 percent increase since just December 2020.

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“There’s an element of the growth that’s being driven by out-of-town buyers who are coming from markets where home values are significantly higher than ours,” says  Sean Zimmerman, president of Launch Real Estate. “And there are others who realized…

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