Living in Phoenix Arizona Team
Paradise Valley, AZ
Single-Family Homes
LivinginPhoenixAZ.com | 602-734-7263 | hello@livinginphoenixaz.com
Paradise Valley, AZ
Sat May 04 2024
This week the median list price for Paradise Valley, AZ is $6,322,500 with the market action index hovering around 29. This is an increase over last month's market action index of 28. Inventory has decreased to 192.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer'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 | $6,322,500 | |
| Median Price of New Listings | $6,897,500 | |
| Per Square Foot | $978 | |
| Average Days on Market | 130 | |
| Median Days on Market | 84 | |
| Price Decreased | 40% | |
| Price Increased | 1% | |
| Relisted | 5% | |
| Inventory | 192 | |
| Median Rent | ||
| Market Action | 29 | |
| Slight Buyer's Advantage | ||
Prices are climbing and we’re nearing the market’s all time high. 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 |
|---|---|---|---|---|---|---|---|---|
| $12,999,999 | 8,320 | 1 - 2.5 acres | 5 | 7 | 0 | 3 | 2 | 84 |
| $7,637,500 | 7,205 | 1 - 2.5 acres | 5 | 6 | 17 | 4 | 2 | 84 |
| $5,072,500 | 6,276 | 1 - 2.5 acres | 4 | 5.8 | 22 | 4 | 7 | 84 |
| $3,487,500 | 4,368 | 0.5 - 1 acre | 4 | 4 | 43 | 1 | 3 | 98 |