If you’re wondering if this is a good time to buy that luxury Scottsdale golf home you’ve had your eye on, maybe this new market data will help. According to the Cromford Report, the current 2015 sales for homes $2,000,000 and over is the best it’s been in eight years. In the last 15 years, only 2005, 2006 and 2007 performed better in the first 30 weeks of the year than 2015.
Since 2005-2007 were the peak years before the high foreclosure supply and tight lending issues of 2008, current market research is often compared to these high achieving years. Likewise, the 2006-2008 “bubble” ending with plummeting prices and low sales in 2008 is often used as a benchmark for low performance.
Peak purchase months are usually April and May with sales starting to fall off in June. Summer is just a traditionally slower sales period, especially in the luxury price range. However, June 2015 tells a different story. With 41 home sales $2,000,000 or over, June has been the year’s strongest month so far with no signs of the luxury market slowing. In fact, these sales are only 6% lower than those in 2006.
This data shows just how well the market is recovering and what a great year 2015 has the potential to be in the luxury market. 2015’s sales volume is at about 47,600 closings, an 8% boost from the same week at the end of July in 2014. As compared to the token 2008, 2015 sales are up a whopping 57%.
The number of new listings is a positive indicator of a stronger, more stable market. About 63,800 new listings went active so far in 2015. In comparison, at this time in 2006 there were almost 109,000 new listings. Since the high inventory contributed to the “bubble bust,” this more conservative number is a good sign for 2015.
This year is shaping up to be a great one to buy or sell your Arizona golf home. Scottsdale golf homes for sale range from turnkey condos to luxury estates.
To take advantage of the current market, contact The Matheson Team. Our seasoned experts will help you navigate the best times to buy and sell, and all the available homes in Arizona golf course communities.
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The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255