Market Data - Paradise Valley – January 2017

Supply in Paradise Valley fell back from 366 to 356 during December and we now have 2% fewer active listings than at this time last year. During December there were 27 sales, which is slightly under par for the average December. All the closed sales were normal transactions. Pricing in Paradise Valley had been weakening since reaching a peak of $358 in August 2015, but it showing a slight revival during the last few months. The twelve month moving average $/SF for sales has recovered from a low of $337 in August 2016 to $349 in December. The six month average stands at $356 for December, still well below the peak of $374 achieved in February 2015. The three month average rose to $376, its highest level since January 2015.

Average Price per Sq. Ft. for Closed Transactions for the Last 10 Years

The dark blue line shows the trailing 6-month average.

Number of listings by Status for the Last Two Years

This graph shows the number of homes that were active in the area as of the 15th of the month. It also shows the number of offers that were accepted and the number of transactions that were closed within the month

Sales Price as a Percentage of Original List Price

The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.

Average Price by Status

Active listings were measured on the 15th of December. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire month of December

Market Activity by Price Range

Active listings were measured on the 15th of December. The numbers for New This Month, Accepted Offers and Sold represent the quantities for the entire month of December.

Months of Inventory Based on Price Range

The average list price of Active listings is measured the 15th of each month. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.

Average Price per Sq. Ft. based on Price Range

Figures for Active and Under Contract were compiled on December 15th. Note: The “Under Contract” price is the list price, not the contract price. The contract price is not revealed until the transaction closes.

Seasonality

New Listings by Month

Accepted Offers by Month

Closed Transactions by Month

The charts above reflect activity by month. Each bar represents the percentage of annual business done within a specific month.

Price per Sq. Ft. by Size

Price per Sq. Ft. by Year Built

Market Activity by Property Type

Traditional sales are transactions where a lender plays no part in the decision making process associated with the sale. The homeowner is in complete control. Distressed sales are comprised of two main categories; short sales and lender-owned properties (REOs). A short sale occurs when the lender agrees to release the lien on a property (which allows the property to transfer title) for less money than is actually owed. A property becomes an REO when the lender forecloses and takes ownership of a property.  As you can see, distressed transactions are now an inconsequential portion of the market.

Active - This Month

Sales - This Month

Active – 12-Month Average

Sales – 12-Month Average

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Price per Sq. Ft. by Type