Phoenix metro sales volume in 2025 in the $1 million plus range increased about 14% over 2024, outperforming every other market segment. 2025 also recorded the highest number of $1 million plus sales in the past decade, even as total market sales stayed below the post Covid peaks. This mimics the increase in this range across the U.S. and what foreigners buy (Global Home Buying Recovers). There was also solid growth in the next lower price sales range from $700,000 to $900,000. This just below the luxury tier increased 6% to 8% year over year. So, despite the view that the Valley of the Sun market is overpriced, well-to-do residential buyers obviously disagree.
