As more owners continue to hang onto their houses, home values locally and across the nation have reached a new peak, but it comes at a cost.

Point2 compared the share of luxury listings across the 30 largest U.S. cities — and Phoenix is among the top 15.

Arizona had an average price per square foot of $252. 

Paffrath is replacing Mandy Neat, who stepped down from the position after accepting a position with the Deputy Commissioner of the Arizona Department of Real Estate.

Phoenix-area firm The Brokery will exclusively handle the sales for two Phoenix-area communities from Camelot Homes.

Scholarship recipients will receive up to $1,500 and can use the money for pre-licensing school, exam expenses or initial state and national association dues.

Phoenix listings grew 28.7% from last year.

The number of Phoenix sellers making concessions to buyers is up from last year.

Ample residential, industrial and commercial construction makes the Southwest city a hub for real estate development, beat out by only Texas cities.

The hire follows the December 2022 firing of the homebuilder’s senior vice president for field operations, who had been tapped to become COO on Jan. 1. 

Phoenix’s April average home value rose, while pending sales fell from March.

Phoenix-based residential real estate agency The Brokery celebrated the grand opening of its new office in Scottsdale with a ribbon cutting on May 5.

Nearly 800 real estate professionals attended the event, where Berkshire Hathway revealed that the company closed 10,854 transactions in 2022 with a sales volume of over $7.2 billion.

The brokerage says the “business communities” — KW Operations, KW Wellness and KW Clarity — provide agents with specialized training, technology, coaching and referral opportunities. 

The brokerage will work in partnership with Keller Williams Integrity First Realty in Gilbert.

The average monthly HOA fee in Arizona is $448, second-highest in the nation.