Pango Group
Paradise Valley, AZ
Single-Family Homes
www.pangogroup.com
Paradise Valley, AZ
Sat Dec 21 2024
This week the median list price for Paradise Valley, AZ is $5,650,000 with the market action index hovering around 28. This is an increase over last month's market action index of 27. Inventory has decreased to 157.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
Home sales have begun exceeding new inventory. While still a Buyer’s market, prices seem to have already started to respond. If the trend continues, expect prices to keep marching upward.
Real-Time Market Profile
| Median List Price | $5,650,000 | |
| Median Price of New Listings | $4,295,000 | |
| Per Square Foot | $935 | |
| Average Days on Market | 157 | |
| Median Days on Market | 77 | |
| Price Decreased | 45% | |
| Price Increased | 1% | |
| Relisted | 5% | |
| Inventory | 157 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
This week saw relatively little price change from last week. However the market appears to be trying to establish an uptrend. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $9,750,000 | 8,173 | 1 - 2.5 acres | 5 | 7 | 13 | 3 | 6 | 77 |
| $6,495,000 | 6,655 | 1 - 2.5 acres | 5 | 6 | 18 | 1 | 2 | 70 |
| $4,795,000 | 5,134 | 1 - 2.5 acres | 4 | 5 | 32 | 2 | 5 | 84 |
| $2,962,500 | 3,960 | 1 - 2.5 acres | 4 | 4 | 45 | 3 | 3 | 84 |