October saw a barrage of new luxury listings added to the market, including a brand new home from American First Builders and CP Drewett of Drewett Works Architecture.

In Phoenix, home prices inched 0.42% higher year over year and slipped 0.53% month over month in August.    

September’s priciest home sales in Arizona include a 21,000-square-foot estate, a luxury penthouse and a modern mansion in the mountains.

Economists were expecting a monthly decline in the annual sales rate. 

A new-construction estate in Phoenix tops the ranking of the priciest new listings in Arizona for September.

S&P Dow Jones noted that although prices rose almost 2%, in real terms, they were down, thanks to inflation, which registered 3.4% in July. 

New-home inventory fell to its lowest level since December. 

The month-over-month bump in contract signings was still below the pace of last August. 

Winners of the 2026 Phoenix Agents’ Choice Awards are prominently featured on our August roundup of the priciest home sales in Arizona.

Since the Hispanic Wealth Project’s founding in 2014, Hispanic household wealth has more than tripled across the U.S.

In Phoenix, specifically, buyers who wait until the first week of November to buy stand to see 16.4% more active listings.

At the same time, the median-sales price rose again, as months’ supply of homes for sale hit a 10-year high. 

The increase in purchase activity offset a decrease in refinancings. 

The priciest new listing in Arizona is still a work in progress: The $20 million estate, currently being built by BedBrock Developers, is set for completion in 2028.

The pace of home-price growth rose nationally but with significant regional differences.

Nationally, home sales in the 46 metro areas surveyed by REMAX rose 2.5% year over year and slipped 5.7% month over month.