Real Estate News

  • Recently Sold Luxury Homes in Arcadia Proper

    Arcadia Proper is quite the head turner. This teeny tiny area of Phoenix is full of luxury homes that will make your eyes pop out of your head and your jaw hit the floor. Luxury homes in Arcadia Proper are sprawling estates with beautiful curb appeal, quality finishes, trendy fixtures and typically a view of Camelback Mountain which is priceless. 

    Everything is oversized and over the top in the most sophisticated way possible. The materials used are high end, the floor plans are well thought out and some of these luxury homes even have an elevator. They are dream houses!

    Here is an overview of the luxury homes that have recently sold in Arcadia Proper. Due to the fact that Arcadia Proper is so desirable right now, I'm setting the luxury home price at $2,000,000.00 and higher. 

    This is because some of the houses that have recently sold between $1,000,000.00 and $2,000,000.00 are older homes sitting on valuable land; therefore, down the road, they will be scrapped and turned into luxury homes. Although the original ranch style homes have recently sold for well over $1,000,000.00, the houses themselves aren't comparable to the luxury homes that have recently sold.

    Some details of the recently sold homes in Arcadia Proper are as follows:
    *Square foot price ranges from $346/SF - $557/SF
    *Square footage of house ranges from 4,177 SF - 7,667 SF
    *Homes sold between $2,000,000.00 and $3,400,000.00
    *Recently sold dates range from June 1, 2017 - October 10, 2017
    *Number of luxury homes sold in Arcadia Proper between these dates is 9
    *Bedroom and bathroom count range from 4 - 6 bedrooms and 4 - 7 bathrooms
    *Takes roughly 6-9 months to sell a luxury home in Arcadia Proper

    I don't want to give you the wrong idea, luxury homes in Arcadia Proper don't fly off the shelves and there are a few reasons why. First, there are still original ranch-style houses sprinkled in between the luxury homes and the owners of these houses have lived there for decades. 

    They don't want to sell their home (which is full of memories) to an investor who is going to bulldoze it and build something bigger and better. Your home is a big attachment! Working these people to sell their homes to investors can take years. These are the houses that range between one million dollars and two million dollars.

    The most obvious reason that luxury homes don't fly off the shelves is the price point. There are plenty of people who can purchase a two million dollar house, but of those who can purchase a house at this price point, how many want to. Then you have the rest of us who can't purchase a two million dollar house. It definitely attracts a small amount of people.

    The size and monthly maintenance of these luxury homes also play a role in purchasing a house of this size. You have to think of water bills, electricity bills, lawn maintenance, pool maintenance, house cleaning service and if this is a second or third home, how will it be maintained when you're not here to use it? In a big house, there are more items that could possibly need attention and/or break. These are all things to think about!

    The recently sold homes in Arcadia Proper are holding their value. The price per square foot is high, but people are willing to pay it in order to be in this posh neighborhood as well as live in a big, beautiful, knock you off your chair home in the hottest part of Phoenix.

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