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.
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