Paradise Valley Homes
We Love doing Live VIDEO Previews! Our Paradise Valley Homes Buyer Service is FREE! Property Alerts Here 🙂
Our Paradise Valley Homes are very popular! We LOVE showing them and taking the LIVE Video Previews for those who might be out of town. Simply send us your favorite home, and we will be happy to schedule a Live Video Tour for you! (and email you the link) 🙂
Our Median Sales Price in May was $2,635,050, up 55.0% from $1,700,000 in May of 2020 and down -4.3% from $2,752,500 last month. The average sales price in May was $3,204,771, up 57.7% from $2,031,565 in May of 2020 and down -2.2% from $3,277,558 last month. May 2021 ASP was at highest level compared to May of 2020 and 2019. (more monthly market report below photos)
We can currently see (119) Homes available today in Paradise Valley!
Paradise Valley Homes ~ Newest Listings
Paradise Valley Homes ~ Monthly Market Report
May property sales were 58, up from 19 in May of 2020 and -27.5% lower than the 80 sales last month. May 2021 sales were at their highest level compared to May of 2020 and 2019. May YTD sales of 304 are running 67.0% ahead of last year’s year-to-date sales of 182.
The total inventory of properties available for sale as of May was 151, down -4.4% from 158 last month and down -44.1% from 270 in May of last year. May 2021 Inventory was at the lowest level compared to May of 2020 and 2019.
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for May was 85, up from 65 days last month and down from 137 days in May of last year. The May 2021 DOM was at its lowest level compared with May of 2020 and 2019.
Selling Price per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The May 2021 selling price per square foot of $546 was down -2.8% from $562 last month and up 36.5% from $400 in May of last year.
Selling Price (vs) Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The May 2021 selling price vs list price of 98.2% was up from 97.8% last month and up from 89.9% in May of last year.
Whether you’re thinking about buying or selling, you can contact us directly to discuss your local market. We’d love to be your trusted real estate adviser if you’re looking to make a change this year. Please feel free to contact us with any questions, as we will be happy to hear from you – Thanks!! (480)208-7955 ~ You can also see us at Arizona Luxury Homes 🙂