Over the past 12 days, Arizona has seen 21 homes sell for $3 million, including one that fetched over $10 million. Although no additional homes sold for $14 million or more during this period, one more went under contract, bringing the total to seven. This could potentially make this year the best on record for homes selling at $14 million or above in Arizona. The previous record was set in 2021, when Bitcoin’s was also over $60,000.

Traditionally, the summer slow season is a time when luxury homes in Arizona are removed from the market to reset the Days on Market (DOM). However, with recent changes to the rules for resetting DOM and continued activity in the luxury housing market year-round, this practice has become less common. Despite this trend, nine homes priced over $10 million were withdrawn from the market, seven of which were listed at over $14 million.

In December, there was a 15-year supply of homes priced at $14 million and above in Arizona, but that number has since decreased to 7.66. If the current homes under contract successfully close, that figure could further drop to less than four years.