Dated: 10/03/2016

Views: 758

198 Paradise Valley homes transferred to new owners during the first nine months of 2016. This compares almost exactly to 2015 numbers at 204 homes, indicating similar demand, year on year. However, selling prices have been under pressure having reached a high of $388.07 per sq ft in February 2015 and dropping all the way to $346.37 per sq ft this September. The 10.74% decline in prices take us back to late 2014 values. Inventory of homes sits currently at 314… this is a relatively low number for this sector, brought about by many sellers taking their homes off the market for the summer months. I suspect that number will start rising and may pass the 400 mark by years end.

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So, having gone through a high and now being down again, what are the indicators. “Downsizing’ is the current driving force for Paradise Valley as owners place their larger properties on the market. Demand for smaller and newly built properties such as the ‘The Village at Mountain Shadows’, ‘Ritz-Carlton’ and ‘Enclave at Borgata’ is being fueled by Paradise Valley families wanting to reduce the size of their Arizona home. Simplification of lifestyle, high standards of construction, in-built technologies and current finishes coupled with ‘location’ are  inviting options to remodeling their original Paradise Valley home.

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With every home in Paradise Valley being customized, don’t rely on average prices to evaluate the real market of your home. I will be pleased to provide you with an in-depth comparative analysis. The critical component when selling your home is to price it correctly… as an enthusiast and full time Paradise Valley realtor, I pride myself in attaining an accurate and realistic price for you.

If you desire further information on the projects mentioned or would like to explore your real estate options, please reach me...  Herb Budwig at 602.690.0110.


Information provided is based on 6-month moving average for homes over $1,000,000 in 85253 to Sept 2016..

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