BUDWIG TEAM REPORTS
Paradise Valley, AZ 85253
Single-Family Homes
Your Arizona Real Estate Team
Paradise Valley, AZ 85253
Fri May 03 2024
This week the median list price for Paradise Valley, AZ 85253 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 | ||
You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as 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 |