The Cromford Report is chalked full of interesting data and statistics for residential real estate in the Valley of the Sun.  Below is a daily observation from this past week that is very promising for homes over $500,000.

In the Northeast Valley, the overall market is more subdued than the rest of the Phoenix area, because there are relatively few homes under $250,000. For single family homes, supply compared to a year ago is as follows:

  • Under $500,000 - down 6%
  • Between $500,000 and $1,000,000 - up 5%
  • Over $1,000,000 - up 4%

Quarterly sales numbers are looking very good because the comparative period from August through October 2015 was weak.

  • Under $500,000 - up 11%
  • Between $500,000 and $1,000,000 - up 5%
  • Over $1,000,000 - up 37%

Source: 11-14-2016