With “luxury home” generally defined as a home valued at $500,000 or more, a high percentage of Valley homes would have fallen into that category only a few years ago. Today, however, with the average Valley single-family residence valued at $160,000, “luxury home” encompasses a more select market.

The average listing price of Luxury Homes — generally defined as those valued at $500,000 or more. About 70 percent of our buyers are from out-of-state. Canadian buyers are number one, mid-west is number two and California is number three. The average age of the buyer is about 52 to 56 years old. People want to retire here and they think the values are good even if they don’t plan on using the home for 4 or 5 years. They can get more for their money in Arizona and Property taxes are reasonable.