BUDWIG TEAM REPORTS

Paradise Valley, AZ 85253

Single-Family Homes

Your Arizona Real Estate Team



Paradise Valley, AZ 85253

Wed Feb 21 2024
This week the median list price for Paradise Valley, AZ 85253 is $5,500,000 with the market action index hovering around 29. This is less than last month's market action index of 30. Inventory has increased to 187. Click here to stay informed with the Paradise Valley market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

Paradise Valley, AZ 85253

Wed Feb 21 2024
This week the median list price for Paradise Valley, AZ 85253 is $5,500,000 with the market action index hovering around 29. This is less than last month's market action index of 30. Inventory has increased to 187. Click here to stay informed with the Paradise Valley market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

While prices have been at a plateau for a number of weeks, this is a Buyer’s market and the supply of homes listed has started growing relative to demand. This indicates that prices could easily resume a downward trend in conjunction with the MAI. Prices are unlikely to move significantly higher until there is a persistent upward shift in the MAI.

Real-Time Market Profile

Never miss important changes in the Paradise Valley market.
Median List Price $5,500,000
Median Price of New Listings $4,500,000
Per Square Foot $908
Average Days on Market 144
Median Days on Market 98
Price Decreased 32%
Price Increased 3%
Relisted 9%
Inventory 187
Median Rent
Market Action 29
Slight Buyer's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

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
$12,372,500 8,285 1 - 2.5 acres 5 7 1 1 2 84
$6,999,999 7,300 1 - 2.5 acres 5 6 24 2 0 98
$4,500,000 5,322 1 - 2.5 acres 4 5 38 5 9 98
$2,600,000 3,372 0.5 - 1 acre 4 4 46 6 3 84