Shane's Weekly Market Insights
Paradise Valley, AZ
Single-Family Homes
Blueink Title Agency
Paradise Valley, AZ
Thu Dec 26 2024
This week the median list price for Paradise Valley, AZ is $5,750,000 with the market action index hovering around 28. This is an increase over last month's market action index of 27. Inventory has decreased to 154.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
Market Narrative
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 | $5,750,000 | |
| Median Price of New Listings | $5,500,000 | |
| Per Square Foot | $954 | |
| Average Days on Market | 163 | |
| Median Days on Market | 84 | |
| Price Decreased | 42% | |
| Price Increased | 1% | |
| Relisted | 5% | |
| Inventory | 154 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
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 |
|---|---|---|---|---|---|---|---|---|
| $9,950,000 | 8,258 | 1 - 2.5 acres | 5 | 7 | 11 | 1 | 0 | 80 |
| $6,495,000 | 6,579 | 1 - 2.5 acres | 5 | 6 | 18 | 2 | 3 | 66 |
| $4,800,000 | 5,214 | 1 - 2.5 acres | 4 | 5 | 32 | 3 | 2 | 91 |
| $2,975,000 | 3,887 | 0.5 - 1 acre | 4 | 4 | 43 | 1 | 5 | 91 |