According to the latest Cromford Report...
"We are now seeing a surge in the closed sales price per square foot - $135.20 for the period March 21 to April 20 across all areas & types. This is a full 3.1% higher than a month ago. Normal sales are averaging $137.63 per sq. ft. and this is up 2.4%. The latest figures are helped by a $6.8 million dollar equestrian estate home in Scottsdale which closed yesterday at just under $1,000 per sq. ft.
We are likely to stay in the $135 to $140 range for the next couple of months, but the real test is whether we can stay above $135 during the third quarter, which is typically the weakest of the year for average price per sq. ft."
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RE/MAX Infinity Chandler