First Integrity Title Market Report
Paradise Valley, AZ
Single-Family Homes
www.FirstIntegrityTitle.com | 303.837.9171
Paradise Valley, AZ
Thu Dec 08 2022
This week the median list price for Paradise Valley, AZ is $4,650,000 with the market action index hovering around 28. This is about the same as last month's market action index of 28. Inventory has decreased to 129.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
Real-Time Market Profile
| Median List Price | $4,650,000 | |
| Median Price of New Listings | $3,750,000 | |
| Per Square Foot | $767 | |
| Average Days on Market | 128 | |
| Median Days on Market | 91 | |
| Price Decreased | 46% | |
| Price Increased | 2% | |
| Relisted | 5% | |
| Inventory | 129 | |
| Median Rent | ||
| Market Action | 28 | |
| Slight Buyer's Advantage | ||
Prices continue their climb again this week. We’re a long way from the market’s price high-point so watch the Market Action Index as an indicator of 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 |
|---|---|---|---|---|---|---|---|---|
| $9,999,500 | 8,581 | 1 - 2.5 acres | 6 | 7 | 12 | 2 | 2 | 94 |
| $5,600,000 | 6,691 | 1 - 2.5 acres | 5 | 5.5 | 18 | 1 | 0 | 91 |
| $3,637,500 | 5,447 | 1 - 2.5 acres | 5 | 4.5 | 32 | 2 | 3 | 77 |
| $2,000,000 | 3,218 | 1 - 2.5 acres | 4 | 3 | 48 | 3 | 3 | 84 |