Is Paradise Valley, AZ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Paradise Valley is a buyer's market

Buyer's
Market

Difference Since August 2021

At the same time last year, Paradise Valley was a Seller's Market.

Key Takeaway

Paradise Valley is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

How much do homes in Paradise Valley, AZ cost?

Median Sold Price

$3,450,000

$673/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$830,333(+31.7%)

Key Takeaway

Homes in Paradise Valley have sold for 31.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 -$1.3M
N/A
2 $1.4M$1.8M
+28.5%
3 $1.9M$2.6M
+34.5%
4 $2.3M$3.2M
+43.3%
5+ $3.1M$4.1M
+34.7%

Median Sold Price Compared To Nearby Cities

Paradise Valley
+31.7%
Phoenix
+22.8%
Scottsdale
+18.3%

How many homes are available in Paradise Valley, AZ?

Number of Homes For Sale

Jul 2022Aug 2022%
126146+15.9%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
0.0%
2 11
0.0%
3 1114
+27.3%
4 3742
+13.5%
5+ 7789
+15.6%

Number of Homes Sold

Jul 2022Aug 2022%
1017+70.0%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Paradise Valley, you may be able to get a good deal. 82.4% of homes here sold below asking price last month.

Average Sale Time

Aug 2021Aug 2022%
127 Days84 Days-33.1%

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Paradise Valley has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Paradise Valley, AZ

Paradise Valley, AZ has 146 homes on the market. The number of homes for sale in Paradise Valley, AZ increased by 15.9% between July 2022 and August 2022. While the average time on the market in August 2022 was 84 days, the median list price was $3,450,000. Real estate listing prices changed between July 2022 and August 2022: 1 bedroom properties prices increased by 0%, the cost of 2 bedrooms properties went up by 28.5%, prices of 3 bedrooms properties went up by 34.5%, 4 bedrooms properties became 43.3% more expensive, prices of 5 bedrooms properties increased by 34.7%. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes remained the same, volume of 2 bedrooms homes stayed the same, 3 bedrooms homes became 27.3% more available, the quantity of 4 bedrooms homes went up by 13.5%, volume of 5 bedrooms homes went up by 15.6%. In August 2022, from all listings sold in Paradise Valley, AZ there were more than 0 sold above asking price, over 14 sold below and more than 3 were sold right at the asked price.

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