Pango Group
Paradise Valley, AZ
Single-Family Homes
www.pangogroup.com
Paradise Valley, AZ
Wed May 08 2024
This week the median list price for Paradise Valley, AZ is $6,000,000 with the market action index hovering around 30. This is an increase over last month's market action index of 28. Inventory has decreased to 189.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
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 | $6,000,000 | |
| Median Price of New Listings | $4,200,000 | |
| Per Square Foot | $954 | |
| Average Days on Market | 133 | |
| Median Days on Market | 91 | |
| Price Decreased | 37% | |
| Price Increased | 1% | |
| Relisted | 5% | |
| Inventory | 189 | |
| Median Rent | ||
| Market Action | 30 | |
| Slight Seller's Advantage | ||
While this week the median didn’t fluctuate much, we are relatively close to the market’s price high-point. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $11,995,000 | 8,137 | 1 - 2.5 acres | 5 | 7 | 0 | 0 | 7 | 91 |
| $7,250,000 | 7,351 | 1 - 2.5 acres | 5 | 6 | 18 | 2 | 2 | 77 |
| $4,875,000 | 6,206 | 1 - 2.5 acres | 4 | 6 | 29 | 3 | 2 | 119 |
| $3,372,000 | 4,264 | 0.5 - 1 acre | 4 | 4 | 44 | 4 | 1 | 105 |