What an amazing time to buy a home!
All eyes are on Paradise Valley – the latest Arizona Regional Multiple Listing Service Stat Report indicate that, compared to the rest of the Phoenix neighborhood, Paradise Valley has an ample supply of homes for sale. There was a 12 month supply of Paradise Valley Homes For Sale for the first half of 2015. Today there continues to be about a 12 month supply. That’s a lot of homes.
Currently there are 283 single family homes offered in Paradise Valley, this includes homes actively for sale and those with contingency contracts, but not condominium homes.
In the last 12 months in Paradise Valley, there have been 355 single family homes sell – that’s 29.6 per month. If we divide 355 by 29.6, that’s 12 month’s inventory. The range of values for these 355 – $525,000 – 8,725,294, with an average of $1,789,055 – $343.06 per square foot.
Traditionally, 3-4 months of supply indicate a balanced market.
Right now could be somewhat of a buyer’s market in Paradise Valley, but due to these Phoenix Metro area facts:
- Sales in the entire Phoenix Metro area are up over 20% from the past year
- Total inventory of homes for sale is down almost 16%
- Average sale price is up nearly 6%
- Median sale price is up over 10%
it is extremely difficult to visualize a buyer’s market in Paradise Valley
A very significant fact here is that the average ratio of sale price to list price for the 355 home sold in the last 12 months is 94%; the highest ratio of sale to list price of these 355 was 110%. That’s ten percent more than asking price.
In conclusion, enjoy your search for Paradise Valley Homes For Sale. If you see one online that you would be interested in viewing or learning more about; or if you would like to be provided a list of all these homes, updated in real time to your inbox, please do not hesitate to contact Bob Marsh, Warm Weather Real Estate, 480-529-2936…you’ll be glad you did.