SOURCE: Walt Danley Realty

Decibel Blue

January 30, 2015 08:07 ET

Walt Danley Realty Releases "2014 Year in Review" on the Phoenix Metropolitan Luxury Real Estate Market

Northeast Valley of Phoenix Continues Steady Improvements in the Luxury Real Estate Sector Heading Into 2015

SCOTTSDALE, AZ--(Marketwired - January 30, 2015) - Walt Danley Realty released its "2014 Year in Review." The report was published by Walt Danley Realty in conjunction with The Cromford Report and provides an analysis of market conditions last year for single family homes over $500,000 in all areas of the Northeast Valley of Phoenix, including Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek and Carefree. 

Findings conclude that the low demand for luxury housing in 2014 continued to push inventory up throughout the year, while closed sales decreased overall by 8 percent from 2013. There were a couple of high points during the year that had slight recoveries, followed by declines the next month. This occurred once in April, with a 3 percent year-over-year increase in closed listings, followed by a 24 percent year-over-year decline in May. In October, sales once again rose by 3 percent from 2013 and fell by 2 percent year-over-year in November.

"We are more optimistic going into 2015," said Walt Danley, president of Walt Danley Realty. "The housing recovery is moving in the right direction, albeit slowly. Lending continues to loosen, home prices are on a steady climb and the inventory is more in balance compared to past years."

The Northeast Valley averaged 432 accepted contracts per month in 2014, with the strongest months being between March and June where there were 500 or more contracts per month.

Each area of the Northeast Valley is unique in its price response. The most notable improvements in sales price per square foot were Fountain Hills, increasing 15 percent, and the Biltmore, increasing by 20 percent. Scottsdale was nearly flat all year, increasing only one percent. However, Scottsdale sellers had the highest sales price to list ratio of 95 percent.

Walt Danley Realty represents luxury homebuyers and sellers in the Northeast Valley of Phoenix. The firm is located at 6720 N. Scottsdale Rd., #140, Paradise Valley, AZ 85253. For more information, call (480) 991-2050 or visit www.waltdanley.com.

About Walt Danley Realty

Walt Danley Realty is one of the nation's most prestigious and successful luxury real estate firms, specializing in Arizona's most affluent neighborhoods. Arizona's exclusive affiliate of Christie's International Real Estate, Walt Danley Realty has assembled a growing team of talented real estate specialists with a combined sales volume of nearly $3 billion, consistently landing a place on The Wall Street Journal's list in the categories of top-producing agent and teams. President Walt Danley has earned some of the industry's highest accolades, including being named one of the "35 Most Influential People in Luxury Real Estate" by Unique Homes Magazine. Combining profound market knowledge, expertise and the largest inventory of million-dollar estates within Arizona, Walt Danley Realty has earned a reputation as the premier luxury real estate firm in Arizona.

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Contact Information

  • Andrea Kalmanovitz
    Decibel Blue Creative Marketing & PR
    On Behalf of Walt Danley Realty
    (480) 894-2583
    andrea@decibelblue.com