Paradise Valley Monthly Market Report - June 2022

JULY

Home of the CLHMS

TM

PARADISE VALLEY ARIZO N A www.LuxuryHomeMarketing.com

2022

PARADISE VALLEY

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | JUNE 2022 Inventory

Sales

Luxury Benchmark Price 1: $1,700,000 $15,000,000+ $10,000,000 - $14,999,999 $8,000,000 - $9,999,999

7

0

9

1

7

0

$7,000,000 - $7,999,999

10

2

$6,000,000 - $6,999,999

6

1

$5,000,000 - $5,999,999

8

3

$4,500,000 - $4,999,999

11

4

0 2

0

5

2

$2,000,000 - $2,299,999

1

7

4

$2,300,000 - $2,599,999

$1,700,000 - $1,999,999

Total Sales Ratio2: 26%

1

$3,000,000 - $3,499,999

$2,600,000 - $2,799,999

Seller's Market

4

3

$3,500,000 - $3,999,999

Total Sales: 24

6

4

$4,000,000 - $4,499,999

$2,800,000 - $2,999,999

Total Inventory: 94

2

3

5

1

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 3,999

$2,330,000

4

4

6

15

40%

4,000 - 4,999

$3,732,500

4

5

4

16

25%

5,000 - 5,999

$5,497,000

4

5

3

14

21%

6,000 - 6,999

$4,337,500

5

6

4

15

27%

7,000 - 7,999

$5,850,000

5

8

3

9

33%

8,000+

$6,000,000

6

10

4

25

16%

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 $4,337,500

$4,000,000 $3,325,000 $2,787,500

51

Jun-21

123

114

113

108

$2,750,000

$2,650,000

34

Jul-21

$2,850,000

111

26

21

Aug-21

Sep-21

$3,000,000

111

37

Oct-21

$3,695,000

$3,995,000

$3,675,000

$3,625,000

$3,278,423

92

79

35

36

Nov-21

Dec-21

41

31

Jan-22

Feb-22

51

41

Mar-22

94

93

91

82

68

Apr-22

24

24

May-22

Jun-22

MEDIAN DATA REVIEW | JUNE TOTAL INVENTORY Jun. 2021

Jun. 2022

108

TOTAL SOLDS Jun. 2021

Jun. 2022

94 VARIANCE: -13 %

24 VARIANCE: -53 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Jun. 2021

Jun. 2022

733 VARIANCE: 30 %

$

565

$

51

Jun. 2021

SALES PRICE Jun. 2021

3.33m

$

Jun. 2022

99.33% 95.96% VARIANCE: -3 %

Jun. 2022

4.34m VARIANCE: 30 % $

DAYS ON MARKET Jun. 2021

Jun. 2022

40

53 VARIANCE: 33 %

PARADISE VALLEY MARKET SUMMARY | JUNE 2022 • The Paradise Valley single-family luxury market is a Seller's Market with a 26% Sales Ratio.

• Homes sold for a median of 95.96% of list price in June 2022.

• The most active price band is $4,000,000-$4,499,999, where the sales ratio is 75%.

• The median luxury sales price for single-family homes is $4,337,500.

• The median days on market for June 2022 was 53 days, up from 40 in June 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