(Photo via RETSY)
(Disclosure: Rose Law Group represents Silver Sky Development.)
By Forbes
After a small dip in the winter months, the luxury real estate market in Arizona’s Valley of the Sun is rising again. According to data provided by Scottsdale-based brokerage RETSY, the number of homes sold in Paradise Valley—Arizona’s wealthiest community—has surpassed that of all of last year, with the average sales price reaching $3.69 million as of April.
Included among this year’s top sales in the Phoenix metropolitan area are a handful of new construction homes. With Arizona having the highest percentage of inbound moves for the last two years, these new development projects have become essential for combating a strained supply. To optimize land usage, many of these new developments are multihome luxury communities.
Here’s an inside look at these latest new construction residential communities arriving in the Valley.
Silver Sky
Location: Paradise Valley
In April, a proposed plan for a 17-acre luxury home community by Scottsdale developer Silver Sky was unanimously approved by the Paradise Valley Town Council. Located on the slopes of Mummy Mountain, the property will consist of 12 unique home sites. Eight of the homesites have been allotted for custom builds and the remaining four for showcase homes.
