Is Paradise Valley Village, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Paradise Valley Village has remained a Seller's Market.
Key Takeaway
Paradise Valley Village is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Paradise Valley Village, AZ
How much do homes in Paradise Valley Village, AZ cost?
Median Sold Price
$643,883
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Paradise Valley Village have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Paradise Valley Village was $643,883 in May 2024, up 5.7% from last year, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $299.5K | $307K | +2.5% |
| 2 Bedrooms | $363.1K | $375K | +3.3% |
| 3 Bedrooms | $545K | $599.9K | +10.1% |
| 4 Bedrooms | $785.1K | $817K | +4.1% |
| 5+ Bedrooms | $1.0M | $1.2M | +12.1% |
Summary: Paradise Valley Village housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 12.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Paradise Valley Village | $608.9K | $643.8K | +5.7% |
| Anasazi Village | $325K | $315K | -3.1% |
Housing Supply in Paradise Valley Village, AZ
How many homes are available in Paradise Valley Village, AZ?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 751 | 754 | 0.4% |
Summary: The Paradise Valley Village real estate market had 754 homes for sale in May 2024, a 0.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 41 | 36 | -12.2% |
| 2 Bedrooms | 117 | 108 | -7.7% |
| 3 Bedrooms | 273 | 281 | +2.9% |
| 4 Bedrooms | 240 | 242 | +0.8% |
| 5+ Bedrooms | 80 | 87 | +8.8% |
Summary: The Paradise Valley Village housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.2%, 2 bedroom homes decreased by 7.7%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 8.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 196 | 179 | -8.7% |
Asking Price vs. Sold Price
117 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Paradise Valley Village, you may be able to get a good deal. 65.4% of homes here sold below asking price last month.
Summary: A total of 179 homes were sold or pending in Paradise Valley Village in May 2024, down by 8.7% month-over-month. Of the 179 sold homes, 65% were sold under asking, 15% were sold at asking, and 20% were sold over asking.
Days on Market for Paradise Valley Village, AZ
How long does it take to sell a home in Paradise Valley Village, AZ?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 55 Days | +4.4% |
Summary: Homes in Paradise Valley Village had an average of 55 days on market in May 2024, up by 4.4% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
74 Homes Were Sold
In 30 - 90 Days
31 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Paradise Valley Village are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 179 homes were sold in Paradise Valley Village; 41% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.