Is Paradise, NV 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 has remained a Seller's Market.
Housing Prices in Paradise, NV
How much do homes in Paradise, NV cost?
Median Sold Price
$354,991
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Paradise was $354,991 in May 2024, up 4.4% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $251K | +14.1% |
2 Bedrooms | $240K | $244K | +1.7% |
3 Bedrooms | $355K | $367.5K | +3.5% |
4 Bedrooms | $450K | $451.2K | 0.3% |
5+ Bedrooms | $552.5K | $535K | -3.2% |
Summary: Paradise housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.1%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 3.2%.
Median Sold Price Compared To Nearby Neighborhoods
Paradise Vista II | $352K | $390K | +10.8% |
Paradise | $340K | $354.9K | +4.4% |
Housing Supply in Paradise, NV
How many homes are available in Paradise, NV?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
785 | 844 | +7.5% |
Summary: The Paradise real estate market had 844 homes for sale in May 2024, a 7.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 116 | 129 | +11.2% |
2 Bedrooms | 258 | 274 | +6.2% |
3 Bedrooms | 225 | 230 | +2.2% |
4 Bedrooms | 132 | 152 | +15.2% |
5+ Bedrooms | 54 | 59 | +9.3% |
Summary: The Paradise housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 9.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
187 | 164 | -12.3% |
Asking Price vs. Sold Price
76 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
48 Homes Were Sold
Over Asking
Summary: A total of 164 homes were sold or pending in Paradise in May 2024, down by 12.3% month-over-month. Of the 164 sold homes, 46% were sold under asking, 24% were sold at asking, and 29% were sold over asking.
Days on Market for Paradise, NV
How long does it take to sell a home in Paradise, NV?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
42 Days | 25 Days | -40.7% |
Summary: Homes in Paradise had an average of 25 days on market in May 2024, down by 40.7% compared to last year.
Breakdown of Home Sale Times
118 Homes Were Sold
Under 30 Days
41 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 164 homes were sold in Paradise; 72% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.