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PARADISE VALLEY ARIZO N A www.LuxuryHomeMarketing.com
2022
PARADISE VALLEY
SINGLE - FAMILY HOMES
LUXURY INVENTORY VS. SALES | JULY 2022 Inventory
Sales
Luxury Benchmark Price 1: $1,700,000 $15,000,000+ $10,000,000 - $14,999,999
6 0 13 0
5
$8,000,000 - $9,999,999 $7,000,000 - $7,999,999
10
0 2
$4,000,000 - $4,499,999
$3,500,000 - $3,999,999
2
6 0 8
0 16 0 3 3
$3,000,000 - $3,499,999 $2,800,000 - $2,999,999
8 0 1 1
$2,600,000 - $2,799,999
5
$2,300,000 - $2,599,999 $2,000,000 - $2,299,999 $1,700,000 - $1,999,999
1
Total Sales Ratio2: 10%
6
$5,000,000 - $5,999,999
Total Sales: 10 Buyer's Market
6
$6,000,000 - $6,999,999
$4,500,000 - $4,999,999
Total Inventory: 102
1
1 6 0
3 0
Square Feet3
Price
Beds
Baths
Sold
Inventory
Sales Ratio
-Range-
-Median Sold-
-Median Sold-
-Median Sold-
-Total-
-Total-
-Sold/Inventory-
0 - 3,999
$5,260,000
3
4
1
16
6%
4,000 - 4,999
$2,375,000
4
4
1
16
6%
5,000 - 5,999
$3,250,000
6
6
4
15
27%
6,000 - 6,999
$6,287,500
5
6
2
14
14%
7,000 - 7,999
$5,200,000
6
7
1
11
9%
8,000+
$9,300,000
6
7
1
30
3%
The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.
PARADISE VALLEY
SINGLE - FAMILY HOMES
13 - MONTH LUXURY MARKET TREND 4 Median Sales Price
Inventory
Solds
$4,347,500
$4,337,500 $4,000,000
$3,995,000 $3,695,000
$3,675,000
$3,625,000
$3,278,423 $2,787,500
$2,650,000
123
114
113
$2,750,000
$2,850,000
111
$3,000,000
111 92
34
Jul-21
26
21
Aug-21
Sep-21
37
Oct-21
35
Nov-21
79 36
Dec-21
Jan-22
51
41
31
Feb-22
Mar-22
41
24
Apr-22
102
94
93
91
82
68
May-22
24
10
Jun-22
Jul-22
MEDIAN DATA REVIEW | JULY TOTAL INVENTORY Jul. 2021
Jul. 2022
113
TOTAL SOLDS Jul. 2021
Jul. 2022
102 VARIANCE: -10 %
10 VARIANCE: -71 %
SALE PRICE PER SQFT.
SALE TO LIST PRICE RATIO
Jul. 2021
Jul. 2022
699 VARIANCE: 24 %
$
565
$
34
Jul. 2021
SALES PRICE Jul. 2021
$
Jul. 2022
99.07% 95.72% VARIANCE: -3 %
2.79m
Jul. 2022
4.35m VARIANCE: 56 % $
DAYS ON MARKET Jul. 2021
Jul. 2022
60
65 VARIANCE: 8 %
PARADISE VALLEY MARKET SUMMARY | JULY 2022 • The Paradise Valley single-family luxury market is a Buyer's Market with a 10% Sales Ratio. • Homes sold for a median of 95.72% of list price in July 2022. • The most active price band is $3,000,000-$3,499,999, where the sales ratio is 100%. • The median luxury sales price for single-family homes is $4,347,500. • The median days on market for July 2022 was 65 days, up from 60 in July 2021.
Square foot table does not account for listings and solds where square foot data is not disclosed. 4 Data reported includes Active and Sold properties and does not include Pending properties.
3
Your Luxury Expert Team Born and raised in Pittsburgh, Sharon took a leap of faith with her now husband, Justin, and moved from PA to Phoenix in 2002. She met her now partner, John, when he sold them their first home, where she was instantly intrigued with real estate. She got her license in 2003 and has been a residential specialist since! The goal of the Arizona Home Group has always been to provide you with A Better Real Estate Experience. John and his team have delivered world class service to thousands of clients for close to 3 decades. Helping his buyers and sellers make an educated decision and negotiating the best price for them are what sets him apart from his peers. Let John help you to navigate the process of selling your largest asset, with honesty, integrity and an attention to detail that is second to none.
Check out some of our reviews: “In two words, Sharon is an absolute “All Star”. As an out-of-state seller of an investment property, I knew I was in great hands from the word go. Sharon and her team took care of absolutely everything, all in a highly efficient and professional manner. Most importantly, Sharon was able to get me top dollar for the property, over the listing price, literally days after the house went on the market. Without a doubt, the best home selling experience I have ever had. If you want the best agent in the market working for you, Sharon should be your first and only choice.” Colin S. “After terminating my existing agreement I found Sharon through a mutual friend. Being remote in Canada poses big challenges when selling a condo. Expectations to go ‘over & above’ mean more time, planning and sweat equity. We established expectations early and I was clear this sale wouldn’t be easy - Sharon never wavered. From day one when we partnered she assessed the quality of the current pictures taken, problem areas, renovations required and made immediate recommendations to ensure best value..” After the Assessment and/or honeymoon phase I was sold on her professionalism and local knowledge. I invested a small amount of money which she project managed since I was remote handling all contractors, invoices and schedules. After successful conclusion we sold the Condo over asking... Not only was I thrilled with the financial outcome, the willingness to immerse herself in the project showed her commitment and ability to yield big results... Chris T. Thank-You Sharon for the great experience.....” “First time home buyer and Sharon & her team couldn’t be any more helpful. From teaching me about the home buying process to applying their expertise, I was able to get the perfect home in my budget even in this market. If you are in need Dylan S. of a realtor in the valley, your search stops here as you wont find anyone better.”
Sharon Coffini REALTOR® SharonAHG@gmail.com 480.225.5710
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