By Terrance Thornton | Independent Newsmedia
While the latest W.P. Carey School of Business real estate report suggests the Phoenix housing market is beginning to return to a normal ratio of traditional sales compared to distressed ones, one fact remains the same: The Paradise Valley luxury market is in a league of its own.
“We all know the luxury market here in town is seasonal, but that being said, we have just had the strongest June we have ever had,” said Dub Dellis,
Walt Danley Realty chief operation officer, in a July 10 phone interview. “I think we have some good momentum moving forward.”
Although both listings and transactions were down in June compared to the same time a year ago, 91 percent of the 33 sales occurring within Paradise Valley town limits were of the traditional nature, a July 2013 Walt Danley Realty luxury market report shows.
According to the latest ASU housing report, in the month of May, there were 51 single-family homes sold in the Town of Paradise Valley with a median sale price of $1,435,000 and average square-foot cost of $397.89.
