By Realtor
Phoenix and Denver have long reigned as the twin powerhouses of the Mountain West region, drawing transplants with their booming job markets, appealing lifestyle amenities, and world-class outdoor recreation—but a look at the metros’ luxury housing trends reveals that a major role reversal is underway.
Back in 2016, Denver boasted a luxury entry point roughly $250,000 higher than Phoenix’s. At the time, expanding technology and energy sectors made the Mile High City the ultimate regional destination for high-earning professionals looking to put down roots.
Today, the tables have turned. The luxury threshold in Phoenix—defined as the top 10% of the market—sits at $1.5 million, nearly $148,000 higher than Denver’s $1.35 million, the result of a dramatic pandemic-era swap, according to a new report from Realtor.com®.
