Navi Title Agency
Paradise Valley, AZ 85253
Single-Family Homes
Here is your weekly Market Update!
Paradise Valley, AZ 85253
Fri Jun 02 2023
This week the median list price for Paradise Valley, AZ 85253 is $4,974,999 with the market action index hovering around 35. This is an increase over last month's market action index of 34. Inventory has decreased to 110.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $4,974,999 | |
| Median Price of New Listings | $5,950,000 | |
| Per Square Foot | $875 | |
| Average Days on Market | 141 | |
| Median Days on Market | 77 | |
| Price Decreased | 48% | |
| Price Increased | 2% | |
| Relisted | 5% | |
| Inventory | 110 | |
| Median Rent | ||
| Market Action | 35 | |
| Slight Seller'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 |
|---|---|---|---|---|---|---|---|---|
| $9,495,000 | 8,010 | 1 - 2.5 acres | 6 | 7 | 6 | 3 | 1 | 119 |
| $6,000,000 | 7,138 | 1 - 2.5 acres | 5 | 6 | 19 | 2 | 3 | 77 |
| $4,400,000 | 4,903 | 1 - 2.5 acres | 4 | 4.5 | 34 | 2 | 4 | 63 |
| $2,824,500 | 4,082 | 1 - 2.5 acres | 4 | 3.5 | 51 | 2 | 1 | 73 |