Price band
$3M – $5M
- Active
- 142
- Closed (90d)
- 31
- Median PPSF
- $968
- Median DOM
- 37days
Liquid; competitive bidding on Cat-A homes. The most actively transacting band.
Q1 2026 · At a glance
As of May 4, 2026 · refreshed quarterly
Median PPSF
$1,184
QoQ change
+3.2%
Median DOM
47days
Months supply
4.1mo
Active inventory
312
Why these matter
The public data tells part of the story. The rest is written in the introductions made over a decade, the pocket trades arranged before they reach the MLS, and the club memberships that change hands at close.
Each quarter, Yong publishes a working view of the Valley’s top-tier market — combining ARMLS-recorded closes with the private representations he and the Russ Lyon Sotheby’s International Realty network quietly facilitate. The result is a more complete picture than any public source provides.
The latest report
Q1 2026 · Latest
Q1 2026
The Valley at the Top
Luxury market intelligence · first quarter
The first quarter opened with its strongest luxury inventory in three years. Paradise Valley set a new per-square-foot record; Silverleaf held serve in the top decile. Buyer depth from California technology wealth continues to widen the floor of the market.
Headline numbers
- Median PPSF
- $1,184
- QoQ change
- +3.2%
- Median DOM
- 47 days
- Months supply
- 4.1 mo
Read the full report
Three key findings · curated
01 — INVENTORY
Active count up 18% QoQ as new builds reach the market — first inventory loosening in three quarters.
02 — PRICING
Median ppsf held flat at $1.18K despite supply growth — a clean read on buyer conviction.
03 — VELOCITY
Days to pending shortened to 31 — well-priced architecturally-merchandised homes are still moving fast.
At a glance
Median price per square foot, last 12 months.
May 2025
$1,018
May 2026 · Now
$1,184
Monthly · Valley top-tier
By the tier
Three price bands. Three different markets.
The top tier doesn’t move as one. Liquidity, pace, and negotiating posture differ sharply by band.
Price band
$5M – $10M
- Active
- 88
- Closed (90d)
- 18
- Median PPSF
- $1,210
- Median DOM
- 62days
Selective; buyers are patient on price. Architectural pedigree commands real premium here.
Price band
$10M+
- Active
- 31
- Closed (90d)
- 4
- Median PPSF
- $1,840
- Median DOM
- 118days
Bespoke; representation-driven. ~⅓ of trades close off-market, never publicly listed.
Earlier reports
The archive.
Published quarterly since Q2 2025.
Q4 2025
Q4 2025
A Year of Widening Depth
Full-year 2025 closed with the broadest buyer base in five years. The median luxury transaction expanded across the Valley, led by North Scottsdale and Paradise Valley. The year's defining story: technology-wealth migration from coastal California.
Read reportQ3 2025
Q3 2025
Summer, Quieted
The typical summer lull was more pronounced than recent years, but transaction prices held. Closed volume dipped from Q2 while median per-sqft values held flat-to-up — a seasonally clean read on buyer conviction.
Read reportQ2 2025
Q2 2025
The Spring Surge
Q2 delivered one of the strongest luxury quarters on record — driven by in-migration, improved inventory conditions, and a wave of long-deferred transactions from buyers finally willing to close. Per-sqft values set new records in three of the five signature communities.
Read report
How we read the market
Three inputs.
- 01
ARMLS recorded closes
1.84M Valley records · refreshed every 4 hours
The full set of MLS-listed transactions. Source-of-record for headline volume + closed-price stats.
- 02
Public deed filings
County recorder · weekly cross-reference
Captures recorded transactions that didn’t pass through the MLS — including off-market trades, intra-family transfers, and entity-to-entity sales.
- 03
Private RLSIR registry
Off-market trades facilitated by the network
Yong’s and the Russ Lyon Sotheby’s International Realty network’s direct knowledge of pocket trades, club-membership-driven transfers, and pre-MLS introductions.
Stats reflect a three-month rolling window per quarter. Neighborhood boundaries follow municipal and ARMLS conventions. Adjustments are noted inline where applicable.
A working dialogue
Begin a
conversation.
The data is one input among many. For a private read on how this quarter applies to a specific address, neighborhood, or criteria — reach out directly.