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THE MARKET

The Market: Mid-Year Update 2023

The Market: Mid-Year Update 2023

Housing Market Update for Phoenix and neighboring communities including Scottsdale, Paradise Valley, Arcadia and Gilbert.
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“Home sale prices steadily increased in 2023 following monthly declines during the second half of 2022.”

Sales of existing homes in the Phoenix Metropolitan Area increased in the 2nd quarter over 1Q23 even as the housing market continues to undergo an adjustment due to rising interest rates.

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The Market: Mid-Year Update 2023 Phoenix and Neighboring Cities

Buyers Around the Globe Expand Their Search for Luxury Properties

In luxury markets across the globe, buyers are taking a closer look at slightly more out-of-the-way destinations that may offer a bit more value, after a booming real estate market saw prices skyrocket.  Two high-demand luxury destinations are Scottsdale and Paradise Valley near Phoenix, Arizona.  Buyers are moving to these two cities for the lifestyle and jobs are following.
 
 
This section of  the 2023 Luxury Outlook report, explores some of the destinations experiencing growth as a result of Buyers changing needs including Scottsdale and Paradise Valley.  I hope that this compilation of research and industry perspectives, exclusively presented by Sotheby’s International Realty, helps you as you look to invest you equity wisely in the year ahead.
 
 
As always, I am here to answer any questions regarding the market locally or assist in connecting you with a Sotheby’s International Realty expert in another part of the country or world.  Search Luxury Real Estate in Scottsdale and Paradise Valley.
 
Read Report Here
 

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Luxury Outlook 2023

I am pleased to introduce the Sotheby’s International Realty 2023 Luxury Outlook report, which outlines the industry trends and happenings across high-end residential markets around the world. In 2022, we saw mortgage rates soar after two years of historic lows, fueling a “lock-in” effect that strained an already tight market as homeowners continued to spend more time at home than ever before. In this report, we highlight the trends that you can expect in the year ahead, from the projected flow of global wealth into the real estate market to luxury real estate in the metaverse.
 
 
Through the 2023 Luxury Outlook report, our goal is to help you navigate this fast-moving and ever-changing real estate market. I hope that this compilation of research and industry perspectives, exclusively presented by Sotheby’s International Realty, helps you as you look to invest you equity wisely in the year ahead.
 
 
Here is a snapshot of takeaways from the report:

 

 
As always, I am here to answer any questions regarding the market locally or assist in connecting you with a Sotheby’s International Realty expert in another part of the country or world.  Search Luxury Real Estate in Scottsdale and Paradise Valley.
 
Read Report Here
 

QUESTIONS?

10 + 2 =