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Friday, August 5, 2011

July’s Priciest Home

As I turn the calendar towards a new month, I always review the Phoenix area real estate market data and statistics from the previous month.  In July, 2011, the Phoenix area had approximately 3,100 single family home closings in the month, according to ARMLS data, with the priciest home selling for a mere $2,750,000. 

It’s always fun to keep tabs on the luxury market and the area’s more significant homes.  Here’s what one lucky buyer ended up with in July: This 8,091 square foot home was custom built in 2006 and is located in Paradise Valley.  The property sits on nearly two manicured acres of lush grass and tropical landscape overlooking the Camelback Golf Course and features 6 bedrooms, 6 baths, a wine room, theatre, game room and exercise studio, heated pool and spa, plus a number of other features. 

Here’s the details:

Listed November 29, 2007.  Closed July 15, 2011.
Total days on the market was 1,318 days
Original list price was $4,750,000.  Final sales price was $2,750,000
Sales price per square foot: $339.88.

The home was originally purchased in April of 2007 for $4,250,000. 

Photos courtesy of ARMLS.

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