By Alexa D’Angelo | Phoenix Business Journal
There has been a dramatic increase in the sale of million dollar homes across Phoenix in the past few months.
Earlier this month, there were roughly 40 homes sold over $1 million in just one week.
“There is an abundance of luxury homes on the market, and our market has just come back from the downturn of 2007,” said Robert Joffe, founder and associate broker at the Joffe Group. “In our luxury market it’s hard to find a house less than a million bucks, there are a lot of them available.”
Joffe said he personally thinks the market was better in 2014 and early 2015, but said the trend is likely related to buyers’ increased desire for newly built homes.
