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.
“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 they can work remotely since Arizona has a great…