Phoenix Luxury Home and Real Estate Monthly Market Update May 2013 - Page 2

Homeowners who decided to sell their luxury homes compared to last year. Phoenix had 378 home owners looking to sell their luxury homes this past month compared to 94 homeowners same time last year in April 2012. That was a 302% increase, which could be due to increase in home prices giving homeowners some equity or break even points. With almost 3 times the same number of luxury homes on the market, than we had last year, it helped a little bit with our problem of inventory shortage that faced the real estate market in 2012. Hopefully as more home owners decide to sell, the problem will be solved. 80 60 78 56 $600k- $699K 40 11 45 $700K-$799 10 $800K-$899K 13 38 $900K-$999K April 2012 20 8 0 April 2013 150 112.5 115 27 $1M to $1.9M 75 32 37.5 $2 M to $2.9M 18 3 $3M to $3.9M 8 $4M plus 6 4 0 Prepared by Dorette Oppong-Takyi , Luxury Real Estate Professional LuxuryLivinginPhoenix.com 480-442-077I