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 November 2023

Since last year, Paradise Valley has remained a Buyer'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.

Housing Prices in Paradise Valley, AZ

How much do homes in Paradise Valley, AZ cost?

Median Sold Price

$3,187,500

$717/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$9,833(+0.3%)

Key Takeaway

The sold price of homes in Paradise Valley has remained the same since last year.

Summary: The median home sold price in Paradise Valley was $3,187,500 in November 2024, up 0.3% from last year, and the median price per square foot was $717.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $285K$289K
+1.4%
2 $385K$522.5K
+35.7%
3 $2.4M$2.7M
+10.2%
4 $2.9M$3.2M
+12.1%
5+ $5.0M$4.8M
-3.7%

Summary: Paradise Valley housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 3.7%.

Median Sold Price Compared To Nearby Cities

Scottsdale
+6.9%
Phoenix
+6.1%
Paradise Valley
0.3%

Housing Supply in Paradise Valley, AZ

How many homes are available in Paradise Valley, AZ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
224245+9.4%

Summary: The Paradise Valley real estate market had 245 homes for sale in November 2024, a 9.4% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 1111
0.0%
3 3433
-2.9%
4 6470
+9.4%
5+ 111127
+14.4%

Summary: The Paradise Valley housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 14.4%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2026+30.0%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

7 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. 73.1% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Paradise Valley in November 2024, up by 30.0% month-over-month. Of the 26 sold homes, 73% were sold under asking, 27% were sold at asking, and 0% 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

Nov 2023Nov 2024CHANGE
62 Days72 Days+14.7%

Summary: Homes in Paradise Valley had an average of 72 days on market in Nov 2024, up by 14.7% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

13 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.

Summary: During November 2024, 26 homes were sold in Paradise Valley; 31% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

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

Report Updated 23 Days Ago

Newest Listings in Paradise Valley, AZ

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