By Angela Gonzales | Phoenix Business Journal
Metro Phoenix is the seventh fastest moving luxury market in the nation, according to a recent Realtor.com report.
The November data shows 64 median days on the market for the 10% most expensive listings in the metro — those with prices starting at $1.34 million — giving it a 1.6% year-over-year increase. Nationwide, luxury homes spent a median 78 days on the market in November, which was the same as November 2024, while San Jose topped the nation with 56 median days on the market.
Migration of the wealthy and the lush lifestyle options in Paradise Valley and pockets of Scottsdale are the main drivers of luxury home sales, said J. Andrew Turley, president of Phoenix Valuations, which appraises the majority of luxury homes in Arizona.
