The Town of Paradise Valley in Arizona is considered to be one of the nicest areas to live in the state of Arizona. It is known for its stunning luxury homes and upscale dining and resort options.
Homes in Paradise Valley vary quite a bit stylistically. You will see anything from sleek contemporary to Spanish-influenced or Southwest design. Lot sizes tend to be larger in Paradise Valley and many homeowners choose to landscape them with lush greenery and trees.
There are also some older homes in Paradise Valley that require updating and are priced accordingly. Homeowners are coming in and completely upgrading them or are tearing down a large portion of the structure and rebuilding.
The terrain of Paradise Valley means you can find homes on large flat lots with expansive yards and gardens. However, with the presence of Mummy Mountain and Camelback Mountain, many of these estate homes are situated on the mountainside and enjoy incredible views of the Valley.
In short, Paradise Valley is an extremely desirable place to live.
Paradise Valley Real Estate Report – Through Q3 2012
I have included two charts with data on the Paradise Valley real estate market.
This top chart is a snapshot of homes for sale in Paradise Valley as of October 10, 2012 as well as pending home sales in Paradise Valley as of the same date.
Current list prices for homes for sale range from $389,900 to $20 million. Of the current pending sales, prices range from $279,000 to $5,200,000.
This bottom chart looks and 2012 home sales activity for Paradise Valley. The information has been broken into quarters so that you can see how the various data points have changed over the course of the year.
Home sales activity hit its peak in Q2 2012, as we saw in many parts of the Valley. What is interesting to note however, is that the average price per square foot increased each quarter as well as the sales price to list price ratio. So, while the number of home sales may have been trending down in Q3, home prices were increasing and buyers were, on average, getting less of a discount off of asking price.
Paradise Valley’s central location, incredible lifestyle and amazing real estate offerings makes it one of the top places to live in Arizona.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/11/2012 and can change at any time. The analysis looks at single family home sales activity in the Town of Paradise Valley, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2012 Heather Tawes Nelson