Market Data - Paradise Valley – November 2018

Supply in Paradise Valley rose from 292 to 313 active listings during October and we now have 12% fewer active listings than at this point last year. There were 30 closed sales in October, down slightly from 32 in October 2017. 29 sales were normal and one was lender-owned. The twelve-month average price per square foot moved down to $377 in October 2018, but this is up 6% from $356 in October 2017. The six-month average stands at $361 for October, up 6% from $342 last year, while the three-month average stands at $362 up 5% from $344 in October 2017.

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

This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.

Average Price by Status

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

Market Activity by Price Range

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

Months of Inventory Based on Price Range

This graph illustrates the importance of pricing your home properly from the beginning. The longer the property sits on the market, the steeper the discount.

Average Price per Sq. Ft. based on Price Range

Figures for Active and Under Contract were compiled on November 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