Let's take a quick look at luxury home shadow inventory. Currently there are 5,997 residential properties in our REO database for Maricopa County. Only 47 of these have
a full cash value assessed at $800,000 or more - i.e. luxury homes with a market value of $1,000,000 or more. 12 of these are active listings on ARMLS and 6 are pending. So we have 29 left in lenders' hands and currently unlisted - sometimes referred to as shadow inventory. In August we saw 60 sales of homes over $1,000,000 in Maricopa County. So the shadow inventory of luxury homes represents about 15 days supply.
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