Paradise Valley Luxury Market Report - December 2022

DECEMBER Home of the CLHMS

TM

PARADISE VALLEY A RI ZO NA www.LuxuryHomeMarketing.com

2022

PARADISE VALLEY

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 2022 Inventory

Sales 1

$1,700,000

146 12 Buyer's Market 2

: 8%

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,999

$2,487,500

4

3

2

26

8%

4,000 - 4,999

$2,650,000

4

5

3

15

20%

5,000 - 5,999

$4,750,000

4

6

3

21

14%

6,000 - 6,999

$4,600,000

6

7

1

23

4%

7,000 - 7,999

$3,692,300

5

6

2

25

8%

8,000+

$13,500,000

4

5

1

36

3%

2 ®

PARADISE VALLEY

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

Nov-21

Dec-21

Jan-22

Feb-22

Mar-22

Apr-22

Inventory

May-22

Jun-22

Solds

Jul-22

Aug-22

Sep-22

Oct-22

Nov-22

MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2021

Nov. 2022

111

TOTAL SOLDS Nov. 2021

Nov. 2022

146 VARIANCE: 32 %

12 VARIANCE: -66 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Nov. 2021

Nov. 2022

641

788 VARIANCE: 23 %

$

$

35

Nov. 2021

SALES PRICE Nov. 2021

3.00m

$

Nov. 2022

96.91% 97.53% VARIANCE: 1 %

Nov. 2022

3.70m VARIANCE: 23 % $

DAYS ON MARKET Nov. 2021

Nov. 2022

52

49 VARIANCE: -6 %

PARADISE VALLEY MARKET SUMMARY | NOVEMBER 2022 • The Paradise Valley single-family luxury market is a Buyer's Market with an 8% Sales Ratio.

• Homes sold for a median of 97.53% of list price in November 2022.

• The most active price band is $2,000,000-$2,299,999, where the sales ratio is 50%.

• The median luxury sales price for single-family homes is $3,699,800.

• The median days on market for November 2022 was 49 days, down from 52 in November 2021.

3

Your Luxury Expert Team John A. Sposato is the founder and team leader of the Arizona Home Group, and has been selling Real Estate in the Phoenix Metro area since 1993. John’s area expertise covers the entire NE Valley, to include all of Scottsdale, Paradise Valley, The Biltmore, Cave Creek/Carefree and Desert Ridge.

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: “John and his team are the BEST!. We interviewed other agents, but once we met with John it was clear that he was the right realtor for us. Buying a home in Scottsdale AZ is hard work and John stuck by us every step of the way. After looking at 48 houses, we just closed on a fabulous property yesterday and it never would have happened if it wasn’t for John and his team. Patience, professionalism and just good people, they stuck by us through the entire process. Would give this group 10 stars if I could. Shout out to Nick, thanks for all your support! Thanks John and team for everything!”

Catherine K. “We worked with John and his team selling our home of 21 years. Everyone was professional, kind and courteous. John went above and beyond for us to get our house sold. I would recommend this company Juli M. to anyone buying and selling a home. Can’t wait to work with them again.”

“Actual real estate agents have specific qualities that define them: power of negotiation, transparency, and trust. I can say that John Sposato, the real estate agent that I worked with during my house buying transaction, has all of these qualities. Thank you very much for a job well done.” Sal M. “John and his team are hands down the best in the business. John helped us buy our first home and throughout the entire process was very personable, knowledgeable, and reliable. We really appreciated how he explains every step of the process so we can be fully aware of what is happening. 10/10 would recommend John to buy/sell a house.”

Jason A.

John A. Sposato PC, CDPE, CIAS ABR, CRS john@arizonahomegroup.com 602.571.3730

#AHGScottsdaleRealtor

www.ArizonaHomeGroup.com Find Us and Subscribe on YouTube: Arizona Home Group