The days when a $1 million home automatically meant luxury are fading fast — especially in the Phoenix luxury housing market, according to Realtor.com®‘s 7 Levels of Luxury report.
A new Realtor.com report finds that while million-dollar homes have become increasingly common nationwide, Phoenix has firmly established itself as one of the country’s premier luxury housing markets. In fact, it now takes approximately $1.45 million to break into the top 10% of home listings in the Phoenix-Mesa-Chandler metro area, placing the Valley among the nation’s “Established Metros” for luxury real estate.
The findings come from Realtor.com’s new “7 Levels of Luxury” report, which measures luxury housing based on local market conditions rather than a universal price tag…