Is Paradise Valley, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Paradise Valley was a Neutral Market.
Housing Prices in Paradise Valley, AZ
How much do homes in Paradise Valley, AZ cost?
Median Sold Price
$3,047,500
$719/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Paradise Valley was $3,047,500 in March 2024, down 3.1% from last year, and the median price per square foot was $719.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $277K | $285K | +2.9% |
2 Bedrooms | $450K | $522.5K | +16.1% |
3 Bedrooms | $2.5M | $2.4M | -1.6% |
4 Bedrooms | $3.0M | $2.9M | -3.5% |
5+ Bedrooms | $4.2M | $5.0M | +20.2% |
Summary: Paradise Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 16.1%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 20.2%.
Median Sold Price Compared To Nearby Cities
Phoenix | $437.6K | $440K | +0.6% |
Scottsdale | $821.3K | $810.4K | -1.3% |
Paradise Valley | $3.1M | $3.0M | -3.1% |
Housing Supply in Paradise Valley, AZ
How many homes are available in Paradise Valley, AZ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
278 | 294 | +5.8% |
Summary: The Paradise Valley real estate market had 294 homes for sale in March 2024, a 5.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 5 | 0.0% |
2 Bedrooms | 14 | 12 | -14.3% |
3 Bedrooms | 32 | 34 | +6.3% |
4 Bedrooms | 78 | 87 | +11.5% |
5+ Bedrooms | 149 | 156 | +4.7% |
Summary: The Paradise Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 4.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 30 | +3.4% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Paradise Valley in March 2024, up by 3.4% month-over-month. Of the 30 sold homes, 80% were sold under asking, 13% were sold at asking, and 7% were sold over asking.
Days on Market for Paradise Valley, AZ
How long does it take to sell a home in Paradise Valley, AZ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
78 Days | 85 Days | +8.6% |
Summary: Homes in Paradise Valley had an average of 85 days on market in Mar 2024, up by 8.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in Paradise Valley; 20% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.