Valley Luxury Home Market Going Strong
Scottsdale, AZ -- (ReleaseWire) -- 11/15/2006 --The Scottsdale real estate market for large, ornate, luxurious homes continues to surge in Arizona's Valley of the Sun. Whether these luxury homes be new builds featuring spacious lots, multiple pools and the latest technological touches or classic stately manors featuring old southwest charm, homes in Scottsdale with seven- and even eight-figure price tags are selling at a brisk pace throughout the Phoenix metropolitan area.
When they move here, they see homes with similar prices that feature wide-open spaces, panoramic views, walk-in wine cellars and high-tech video viewing rooms. Over time these homes are proving to be not only great places to live, but outstanding investments as well.
According to sales data from the Information Market, in 2000, 440 luxury homes with a price tag of $1 million or were sold in the Phoenix area. By contrast, through early October of 2006, more than 2,000 such homes had sold. The trend also holds with homes costing $5 million or more -- in 2000 four such sales took place. Through early October of 2006 that number was 32.
Such numbers don't come as a surprise to the Arizona Realtors such as Echo Farrell of 1st USA Realty Executives in Scottsdale, (http://www.azsonorahomes.com) who specializes in the Scottsdale luxury home market. Farrell, who has helped her clients sell numerous luxury homes, sees the local market elements and the appeal which make such luxury home sales possible.
"The strength of the luxury home market in Scottsdale reflects all the things the Greater Phoenix area has going for it right now," Farrell said. "We have a strong economy with new, better paying jobs. We have the gorgeous weather, some of the country's best shopping and golf, and many beautifully unique luxury homes that accentuate the aesthetic qualities of the Sonoran Desert. These elements add up to a lot of appeal for clients with high-end tastes."
While million-dollar homes are popping up throughout the state, the bulk of such luxury home sales occur in Farrell's areas of expertise, the lush environs of North Scottsdale and Paradise Valley. There, those looking for unique architecture and stunning desert and mountain views, can experience fine living for considerably less than elsewhere in the western United States.
"Many of my clients come from California where a million dollars buys a home that is nice, but far from spectacular," Farrell said. "When they move here, they see homes with similar prices that feature wide-open spaces, panoramic views, walk-in wine cellars and high-tech video viewing rooms. Over time these homes are proving to be not only great places to live, but outstanding investments as well."
Those wishing to learn more about Arizona's luxury home market and in particular luxury homes in Scottsdale, or wishing to purchase or sell a high-end home, can contact Scottsdale Realtor Echo Farrell at 480-607-9990 or visit her site at http://www.azsonorahomes.com.
Media Relations Contact
Echo E. Farrell
Echo E, Farrell
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