In 2020 in the Phoenix-Mesa-Scottsdale metropolitan area 3,233 homes priced at $1 million or more were sold, a 56% jump from 2019 according to Realtor.com. Those sales far outpaced other single-family home sales, which saw an 8% growth overall. Overall, prices for luxury homes – the top 5% of the market – have surged nearly 40% since 2015. And they are as difficult to find as other homes, as inventory has shrunk significantly over the past 12 months.