Phoenix / Scottsdale Luxury Homes are off of most people's radar because a smaller percentage of people are willing (or able) to spend $1,000,000 or more for a home. By the way, depending who you talk to Scottsdale Luxury Homes could be classified as properties over $750,000 or over $1,000,000. Yet we are all fascinated with the designs, features, and locations of these Phoenix Area and Scottsdale Luxury Homes.
Click the link if you're interested in seeing Scottsdale Luxury Homes over $4,000,000.
I like to attend the annual seminar on Scottsdale Luxury Homes offered by the AZ School of Business and Real Estate because there is always good information to learn about luxury trends. Their learned and respected speakers, among whom are Michael Orr, have affirmed that the pricing trens for Scottsdale Luxury Homes follows the normal resale market by approximately 18-months.
Since our normal market hit bottom in the spring of 2011 (see stats here: Housing Tracker and look at the "Total $$ per Sq Ft" column) the Scottsdale Luxury Homes market would have hit bottom in the fall of 2012. However, this article says the bottom was in February of 2012.
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Source: Phoenix Homes and Foreclosures
Current information on Phoenix homes for sale and Phoenix foreclosures. Market conditions.