Could this be a sign of an improved housing market?

Could the high number of luxury homes under contract be a wonderful sign for our housing market in Phoenix? I think it might.

There are 32 listings over $3,000,000 that are under contract at the moment. This is the highest number we have seen since the housing boom. The average number since 2011 has been 10, and prior to March this year we had not seen any count higher than 20.

Clearly the buyer interest in uber-luxury homes is very strong. Here is where they are located:

• Phoenix 85018 - 1
• Mesa 85013 - 1
• Scottsdale 85251 - 1
• Paradise Valley 85253 - 12
• Scottsdale 85255 - 8
• Scottsdale 85258 - 1
• Scottsdale 85260 - 1
• Scottsdale 85262 - 4
• Scottsdale 85266 - 1
• Tempe 85284 - 1
• Cave Creek 85331 -1