Is Paradise Valley, AZ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Paradise Valley was a Seller's Market.
Housing Prices in Paradise Valley, AZ
How much do homes in Paradise Valley, AZ cost?
Median Sold Price
$3,073,747
$727/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Paradise Valley was $3,073,747 in April 2024, up 0.3% from last year, and the median price per square foot was $727.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $277K | $278.7K | +0.6% |
2 Bedrooms | $470K | $591K | +25.7% |
3 Bedrooms | $2.2M | $2.4M | +5.5% |
4 Bedrooms | $2.8M | $3.1M | +9.7% |
5+ Bedrooms | $4.3M | $4.9M | +15.0% |
Summary: Paradise Valley housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.6%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 15%.
Median Sold Price Compared To Nearby Cities
Phoenix | $433K | $444.3K | +2.6% |
Scottsdale | $810.4K | $823.4K | +1.6% |
Paradise Valley | $3.0M | $3.0M | 0.3% |
Housing Supply in Paradise Valley, AZ
How many homes are available in Paradise Valley, AZ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
286 | 298 | +4.2% |
Summary: The Paradise Valley real estate market had 298 homes for sale in April 2024, a 4.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 6 | -14.3% |
2 Bedrooms | 12 | 14 | +16.7% |
3 Bedrooms | 31 | 34 | +9.7% |
4 Bedrooms | 84 | 85 | +1.2% |
5+ Bedrooms | 152 | 159 | +4.6% |
Summary: The Paradise Valley housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 4.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 43 | +43.3% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in Paradise Valley in April 2024, up by 43.3% month-over-month. Of the 43 sold homes, 77% were sold under asking, 19% were sold at asking, and 5% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
115 Days | 123 Days | +6.1% |
Summary: Homes in Paradise Valley had an average of 123 days on market in Apr 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Summary: During April 2024, 43 homes were sold in Paradise Valley; 14% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.