It’s the time of year we release the exclusive analysis of the global luxury real estate market : The Report. The Report has become the industry standard for luxury real estate analysis. Our office is home to 100 Realtors with decades of experience pricing and marketing luxury homes in Scottsdale, Paradise Valley and Phoenix. These cities contain the majority of luxury home sales in the state of Arizona
Methodology
The Coldwell Banker Global Luxury® program collaborated with the Institute for Luxury Home Marketing, Wealth-X and other third-party sources to analyze the data for the top 10% of 125 U.S. luxury metros. The data for this report is based on closed and recorded sides of homes sold during 2019, 2020, 2021 and 2022. The statistical information has been calculated using closed sales activity reported over a 48-month period from January 1, 2019 to December 31, 2022, as gathered from multiple sources including but not limited to various Multiple Listing Services, the Institute for Luxury Home Marketing, Coldwell Banker Real Estate, LLC, Coldwell Banker Independent Sales Associates, Brokers, Brokerages or Affiliates. Data is deemed reliable but not guaranteed for accuracy as it may not reflect all the real estate activity in the area.
The Opportunity Index: To determine the score for each type of opportunity, rankings are based on sales ratio for the last four months of 2022, sold price/list price% ratio (SP/LP%) for the last four months of 2022 and inventory growth over the last four months of 2022 compared to the first eight months of 2022.The ranking for buyer and seller opportunities provided a score where the ceiling is 100. For sellers, scores were awarded for opportunity where the market shows that it still favors the seller as demand is higher than supply, and sold prices are at or close to asking. Also analyzed was whether there had been an increase in inventory, allowing sellers to purchase a new home. For buyers, scores were awarded for opportunity where the market shows that it favors buyers with higher supply than demand and sold prices are 5% to 10% below asking. Additionally, markets were evaluated based on significant increases in inventory, giving buyers more listings to choose from. For more information, please refer to the full methodology on pages 110 -111 of The Report.
About Coldwell Banker Global Luxury®
The Coldwell Banker Global Luxury® program legacy traces its roots to 1933 and has been a world leader in luxury real estate since. Coldwell Banker Global Luxury Property Specialists are an exclusive group within the Coldwell Banker® system, making up under ten percent of independent sales associates affiliated with the brand worldwide. Coldwell Banker affiliated agents conducted 48,444 transaction sides of homes priced at $1 million or more in 2022. This equates to $288 million in daily luxury sales with an average sales price of $2.2 million in this category.* Coldwell Banker, the Coldwell Banker logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are registered marks owned by Coldwell Banker Real Estate LLC. Each franchise is independently owned and operated.
