Northeast Valley – Luxury Market Summary – May 2022 We are looking at single family homes priced from $500,000 upwards in all areas of the Northeast Valley, including Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek and Carefree. Supply At the end of April, the active listing count was much higher than the month before, moving from 980 to 1,153. This is the first time we have a seen a significant jump in supply during April for many years. We measured 1,324 at the same time last year, so supply is down 13% since then. Homes between $500,000 and $1 million have seen supply fall 29% compared to a year ago. Listings Between $1 million and $3 million are where the bulk of the additional supply has arrived. They are down only 2% compared with a year ago and are up 37% in just the last month. Homes over $3 million are down 5% from the same time last year and are up only 6% during April. Distress remains extremely low. There are four pre-foreclosures but no lender-owned homes. Demand - Sales The level of closing activity remained fairly high during April. We saw 776 closed listings, down 19% from April 2021 but much higher than all earlier April totals, the prior record being 571 in 2019. Limited by very weak supply, sales between $500,000 and $800,000 dropped 39% compared to a year ago. In contrast, the range over $2 million was down 11%, while sales of homes between $800,000 and $2 million were down 6%. Demand – Under Contract We can anticipate future sales by looking at homes under contract. We started May 2022 with 921 listings under contract, which is down 19% from 1,137 in May 2021 and down 5% from 970 last month. This is a weak result for both year-over-year and month-to-month changes. We deduce that we are likely to see closing numbers during May that are considerably lower than May 2021 and slightly lower than April 2022. The numbers get stronger as we move up the price ranges. Homes under $800,000 are down 37% but homes over $2 million are up 5% compared to a year earlier. Normal sales comprise 99.7% of luxury homes in escrow, with only three pre-foreclosures and no lender owned home. Sales Pricing Due to relatively low volumes and a wide range of price points, the Northeast Valley luxury market can display a lot of volatility if measured monthly. We therefore prefer to measure price per sq. ft. over a longer period to identify trends more accurately. The twelve-month average currently stands at $445, up 29% from $344 in April 2021. The six-month average stands at $477, up 29% from $369 in April 2021 and the three-month average stands at $503, up 30% from $388 in April 2021. The strong upward pricing trend continues in full swing. Under Contract Pricing The average under contract price per square foot stands at $560, up only slightly from $559 last month but far higher than the $428 in May 2021. This month the under-contract pricing implies continued increases in pricing for May and June sales, but perhaps at a less frenetic pace. Information contained in this report has been prepared by Walt Danley in conjunction with The Cromford Report exclusively for Walt Danley and their clients. All other use is expressly forbidden. © 2022
WALT DANLEY
CHRISTIE'S INTERNATIONAL REAL ESTATE MARKET DATA REPORT - May, 2022
Arcadia
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley and our clients.
Information contained in this report has been prepared by Walt Danley in conjunction with The Cromford Report exclusively for WD and their clients. All other use is expressly forbidden. © 2022
Arcadia - May 2022 The number of active listings in Arcadia rose sharply from 19 to 28 during April but is still 40% down from twelve months. Closed sales came in at 22, down from 28 in April 2021. Average price per sq. ft. was strong again last month. The twelve-month average has grown 30% from $470 to $612 over the last twelve months. The six-month moving average has risen 27% from $498 to $634, while the more volatile three-month moving average increased 32% from $506 to $668.
Average Price per Square Foot for Closed Transactions the Last 10 Years 750 700 650 600 500 450 400 350 300 250
rJu 1 2 l O c -12 t Ja - 1 2 n A p -13 rJu 1 3 l O c -13 t Ja - 1 3 n A p -14 rJu 1 4 l O c -14 t Ja - 1 4 n A p -15 rJu 1 5 l O c -15 t Ja - 1 5 n A p -16 rJu 1 6 l O c -16 t Ja - 1 6 n A p -17 rJu 1 7 l O c -17 t 18 -17 1 8 Ja n -A 1 8 pr 1 8 - Jul 19 O ct 1 9 Ja n -A 1 9 pr 1 9 - Jul 20 O ct 2 0 Ja n -A 2 0 pr 2 0 - Jul 21 O ct 2 1 Ja n -A 2 1 pr 2 1 - Jul 22 O ct A p Ja n r-2 2
200 Ap
$ / SF
550
Arcadia - April 2022
Number of listings by Status for the Last Two Years
70 50 30
u 20 g -S e 20 p -O 20 ct -N o 20 v -D ec 21 - Ja 21 n -F e 21 b -M a 21 r -A p 21 r -M a 21 y - Ju n 21 - Ju 21 l -A u 21 g -S e 21 p -O 21 ct -N o 21 v -D ec 22 - Ja 22 n -F e 22 b -M a 22 r -A p 22 r -M ay
l
-A
20
- Ju
20
20
- Ju
n
10
Active
Accepted Offers
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed with in the entire month.
Average Price
$4,862,250
Active
Under contract
$3,300,782
$2,428,614
Sold - Last 12 Month
0
0.5M
1M
1.5M
2M
2.5M
3M
3.5M
4M
4.5M
5M
The average list price of Active listings is measured the 15th of each month. Note: the "Under Contract" price is the list price, not the contract place. The contact place is not revealed until the transaction closes.
Market Activity by Price Range 25
24 20 16
12
12
8
8 4 0
13
3
1
No Active Inventory < $750K
$0.75-$1.25M Active
New This Month
1
3
$1.25-2M Offers Accepted This Month
$2M+ Sold This month
Active listings were measured on the 15th of the previous month. The number for New This Month, Accepted Offers, and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
< $750K
No Active Inventory
$0.75-$1.25M
No Active Inventory
$1.25-2M
No Active Inventory
.7
$2M+ 0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
Months inventory
The number of months it would take to sell all the current active listings based on the rate of sales over the last 6 months assuming no new listings were added.
$511
500
$565 $523
600
$463
$ / SF
700
$638 $687
$719
800
$607
$823
900
$1,084 $1,056 $820
Average Price per Square Foot by Price Range
400 300 250 $1-$2M
$2-3M Active
$3-5M
Under contract
$5M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The "Under Contract" price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Price per Square Foot
$648
$763 $496
600
$624
$705
$ / SF
800
$699
1000
$1,020
By Type
400 200
No Active Inventory Traditional Active
Closed - Last Month
Short Sale Active- 12 Mo Avg
REO Sold - 12-Mo Avg
Price per Square Foot Based on size of the home (sold over the last twelve months) 700 650 600
$659
$619
$605
$618
$ / SF
550
$595
500 450 400 350
$309
300 250 <2,500
2,501-3,500 3,501-5,000 5,001-7,500 7,501-10,000
10,000+
Price per Square Foot Based on the year built (sold over the last twelve months)
800 750
$723
$ / SF
700 650
$699
$631
600 550
$561
500
$531
$501
450 1970s
1980s
1990s
2000s
2010s
2020s
WALT DANLEY
CHRISTIE'S INTERNATIONAL REAL ESTATE MARKET DATA REPORT - May, 2022
Biltmore
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley and our clients. Information contained in this report has been prepared by Walt Danley in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Biltmore - May 2022 The supply of active listings rose from nine to twelve during April 1st, 2022, down from 28 this time last year and still very low. There were only ve closed sales during April, down from 18 in April 2021. Sales are low partly because there is so little for sale. The imbalance between supply and demand has caused pricing to rise and the twelve-month average has moved up 28% from $367 to $468 per sq. ft. over the last year. The six-month average is up 28% from $382 to $488, and the volatile three-month average has seen a 27% increase from $413 to $525.
Average Price per Square Foot for Closed Transactions the Last 10 Years
600 550 500
400 350 300 250 200
rJu 1 2 l O c -12 t Ja - 1 2 n A p -13 rJu 1 3 l O c -13 t Ja - 1 3 n A p -14 rJu 1 4 l O c -14 t Ja - 1 4 n A p -15 rJu 1 5 l O c -15 t Ja - 1 5 n A p -16 rJu 1 6 l O c -16 t Ja - 1 6 n A p -17 r17 17 1 7 - Jul 18 O ct 1 8 Ja n -A 1 8 pr 1 8 - Jul 19 O ct 1 9 Ja n -A 1 9 pr 1 9 - Jul 20 O ct 2 0 Ja n -A 2 0 pr 2 0 - Jul 21 O ct 2 1 Ja n -A 2 1 pr 2 1 - Jul 22 O ct 2 2 Ja n -A pr
150 Ap
$ / SF
450
Number of listings by Status for the Last Two Years 45 35 25 15
u 20 g -S e 20 p -O 20 ct -N o 20 v -D ec 21 - Ja 21 n -F e 21 b -M a 21 r -A p 21 r -M a 21 y - Ju n 21 - Ju 21 l -A u 21 g -S e 21 p -O 21 ct -N o 21 v -D ec 22 - Ja 22 n -F e 22 b -M a 22 r -A p 22 r -M ay
l
-A
20
- Ju
20
20
- Ju
n
5
Active
Accepted Offers
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed with in the entire month.
Average Price
Active
$2,758,500
Under contract
$1,300,718
Sold - Last 12 Month
0
$980,826 0.5M
1M
1.5M
2M
2.5M
$
The average list price of Active listings is measured the 15th of each month. Note: the "Under Contract" price is the list price, not the contract place. The contact place is not revealed until the transaction closes.
Market Activity by Price Range 5
5
5
4
3 3
3 2
4
2
3 2
2 1
1
2 2
3 3 2
1
1
0 < $500K
$500K-$1M Active
$1M-1.5M
New This Month
Offers Accepted This Month
$1.5-2M
$2M+
Sold This month
Active listings were measured on the 15th of the previous month. The number for New This Month, Accepted Offers, and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
< $500K
.3
$500K-$1M $1M-1.5M $1.5-2M $2M+
.3 1.1
2.3
0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 Months inventory
The number of months it would take to sell all the current active listings based on the rate of sales over the last 6 months assuming no new listings were added.
$962
Average Price per Square Foot by Price Range 900
300 250
$549
$609
$285 $275 $294
400
$487 $487
500
$475 $435
$612
600
$479 $400
$ / SF
700
$618
800
< $500K
$500K-$1M Active
$1M-1.5M
Under contract
$1.5-2M
$2M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The "Under Contract" price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Price per Square Foot
$622
700
$443
500 400
$310
$ / SF
600
$431
800
$798
By Type
300 200
No Active Inventory Traditional Active
Closed - Last Month
Short Sale Active- 12 Mo Avg
REO Sold - 12-Mo Avg
Price per Square Foot Based on size of the home (sold over the last twelve months)
500
$475
$ / SF
460
$471
$452
$468
$453
420 380 340
$350
300 <2,000
2,001-3,000 3,001-4,000 4,001-5,000 5,001-7,500
7,500+
Price per Square Foot Based on the year built (sold over the last twelve months) 700
$692
650 600
$ / SF
550
$514
500 450 400
$421
350
$383
$387
300 <1980
1980s
1990s
2000s
2010s
WALT DANLEY
CHRISTIE'S INTERNATIONAL REAL ESTATE MARKET DATA REPORT - May, 2022
Fountain Hills
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley and our clients. Information contained in this report has been prepared by Walt Danley in conjunction with The Cromford Report exclusively for WDR and their clients. All other use is expressly forbidden. © 2022
Fountain Hills - May 2022 The supply of active listings fell from 62 to 69 during April. This total is down 20% from the 86 that we saw on May 1st, 2021. There were 65 closed sales during April, down 19% from 80 in April 2021 and these two years were by far the busiest we have seen for the month of April. Pricing continued to rise. The twelve-month average price per sq. ft. came in at $333 in April, up 23% from $271 a year earlier. The sixmonth average rose from $286 to $351 over the last year while the volatile three-month average was $378 per sq. ft., up from $303 a year earlier.
rJu 1 2 l O c -12 t Ja - 1 2 n A p -13 rJu 1 3 l O c -13 t Ja - 1 3 n A p -14 rJu 1 4 l O c -14 t Ja - 1 4 n A p -15 rJu 1 5 l O c -15 t Ja - 1 5 n A p -16 rJu 1 6 l O c -16 t Ja - 1 6 n A p -17 r17 17 1 7 - Jul 18 O ct 1 8 Ja n -A 1 8 pr 1 8 - Jul 19 O ct 1 9 Ja n -A 1 9 pr 1 9 - Jul 20 O ct 2 0 Ja n -A 2 0 pr 2 0 - Jul 21 O ct 2 1 Ja n -A 2 1 pr 2 1 - Jul 22 O ct 2 2 Ja n -A pr
400 380 360 340 320 300 280 260 240 220 200 180 160 140 Ap
$ / SF
Average Price per Square Foot for Closed Transactions the Last 10 Years
Number of listings by Status for the Last Two Years 110 90 70 50 30
-J 2 0 ul -A u 20 g -S e 20 p -O 20 ct -N o 20 v -D e 21 c - Ja 21 n -F e 21 b -M a 21 r -A 2 1 pr -M a 21 y - Ju n 21 -J 2 1 ul -A u 21 g -S e 21 p -O 21 ct -N o 21 v -D e 22 c - Ja 22 n -F e M b ar -2 Ap 2 r-2 22 2 -M ay
20
20
- Ju
n
10
Active
Accepted Offers
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed with in the entire month.
Average Price
$1,435,576
Active
Under contract
$1,261,215
Sold - Last 12 Month
0
$955,427 0.2M
0.4M
0.6M
0.8M
1M
1.2M
1.4M
1.6M
$
The average list price of Active listings is measured the 15th of each month. Note: the "Under Contract" price is the list price, not the contract place. The contact place is not revealed until the transaction closes.
Market Activity by Price Range 45
42 43
40 35
30
30 25 20
22 17
15 10
7
5
15 5
0 $500K-$1M
$1-$1.5M Active
6 6
5
3 4 $1.5-2M
New This Month
4
4
2
$2-3M
Offers Accepted This Month
1 1 1 $3M+
Sold This month
Active listings were measured on the 15th of the previous month. The number for New This Month, Accepted Offers, and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
$500K-$1M
.6
.9
$1-$1.5M
1.1
$1.5-2M
2.5
$2-3M
8.0
$3M+ 0
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
Months inventory
The number of months it would take to sell all the current active listings based on the rate of sales over the last 6 months assuming no new listings were added.
Average Price per Square Foot by Price Range 900
$334 $336 $305
400 300 250
$500K-$1M
$1-$1.5M Active
$478 $400
$354 $398 $341
500
$1.5-2M
Under contract
$2-3M
$525
$628
600
$527 $429 $384
$ / SF
700
$539 $586
800
$3M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The "Under Contract" price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Price per Square Foot
250
$289
$322
300
$251
$ / SF
350
$314 $292
$373
400
$376 $335
450
$446
By Type
200 150 Traditional Active
Closed - Last Month
Short Sale Active- 12 Mo Avg
REO Sold - 12-Mo Avg
Price per Square Foot Based on size of the home (sold over the last twelve months)
440
$437
420
$ / SF
400 380
$365
360 340 320
$328
$329
$337
$334
300 <3,000
3,001-4,000 4,001-5,000 5,001-7,500 7,501-10,000
10,000+
Price per Square Foot Based on the year built (sold over the last twelve months) 500 460
$459 $427
$ / SF
420 380
$353
340 300
$301
$310
$321
260 <1980
1980s
1990s
2000s
2010s
2020s
WALT DANLEY CHRISTIE'S INTERNATIONAL REAL ESTATE MARKET DATA REPORT - May, 2022
Scottsdale
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley and our clients. Information contained in this report has been prepared by Walt Danley in conjunction with The Cromford Report exclusively for WD and their clients. All other use is expressly forbidden. © 2022
Scottsdale - May 2022 On May 1st, Scottsdale’s active listing counts was 693, a 20% increase on 579 at the beginning of April. This is down 11% from the same time last year. In April we counted 483 closed sales, down 19% from the 597 we saw in April 2021. Prices continued to rise quickly. The twelve-month moving average $/SF came in at $431, up 30% from $332 a year earlier. The six-month moving average stands at $458 up 28% from $359 a year ago and the more volatile three-month average was $485, up from $376 in April 2021, a rise of 29%.
Average Price per Square Foot for Closed Transactions the Last 10 Years
550 500
400 350 300 250
rJu 1 2 l O c -12 t Ja - 1 2 n A p -13 rJu 1 3 l O c -13 t Ja - 1 3 n A p -14 rJu 1 4 l O c -14 t Ja - 1 4 n A p -15 rJu 1 5 l O c -15 t Ja - 1 5 n A p -16 rJu 1 6 l O c -16 t Ja - 1 6 n A p -17 r17 17 1 7 - Jul 18 O ct 1 8 Ja n -A 1 8 pr 1 8 - Jul 19 O ct 1 9 Ja n -A 1 9 pr 1 9 - Jul 20 O ct 2 0 Ja n -A 2 0 pr 2 0 - Jul 21 O ct 2 1 Ja n -A 2 1 pr 2 1 - Jul 22 O ct 2 2 Ja n -A pr
200 Ap
$ / SF
450
Number of listings by Status for the Last Two Years 1,000 800 600 400
-J 2 0 ul -A u 20 g -S e 20 p -O 20 ct -N o 20 v -D e 21 c - Ja 21 n -F e 21 b -M a 21 r -A 2 1 pr -M a 21 y - Ju n 21 -J 2 1 ul -A u 21 g -S e 21 p -O 21 ct -N o 21 v -D e 22 c - Ja 22 n -F e M b ar -2 22 2 -A 2 2 pr -M ay
20
20
- Ju
n
200
Active
Accepted Offers
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed with in the entire month.
Average Price
$2,833,654
Active
$1,813,118
Under contract
$1,287,084
Sold - Last 12 Month
0
0.5M
1M
1.5M
2M
2.5M
3M
$
The average list price of Active listings is measured the 15th of each month. Note: the "Under Contract" price is the list price, not the contract place. The contact place is not revealed until the transaction closes.
Market Activity by Price Range
260
272
220
251 197
180
151 136 123
140 100
95
71
60
57
104 74
117 75
63
45
20 $500K-$1M
$1-$1.5M Active
$1.5-2M
New This Month
45 49
$2-3M
Offers Accepted This Month
61
35 39
$3M+
Sold This month
Active listings were measured on the 15th of the previous month. The number for New This Month, Accepted Offers, and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
$500K-$1M $1-$1.5M
.4 .7
1.1
$1.5-2M $2-3M
1.2 4.2
$3M+ 0
1.00
2.00
3.00
4.00
5.00
6.00
Months inventory
The number of months it would take to sell all the current active listings based on the rate of sales over the last 6 months assuming no new listings were added.
900
$778 $689
$902
Average Price per Square Foot by Price Range
800
$600 $555 $500
600
$378 $381 $348
$431 $405 $388
500 400
$467 $495 $434
$ / SF
700
300 250 $500K-$1M
$1-$1.5M Active
$1.5-2M
Under contract
$2-3M
$3M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The "Under Contract" price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Price per Square Foot
250
$220 $295
$384 $329
350
$531 $457
$498
450
$430
$ / SF
550
$593
650
$682
By Type
150 Traditional Active
Closed - Last Month
Short Sale Active- 12 Mo Avg
REO Sold - 12-Mo Avg
Price per Square Foot Based on size of the home (sold over the last twelve months)
800
$775
$ / SF
700 600
$518
500
$557
$464
400
$386
$405
300 <3,000
3,001-4,000 4,001-5,000 5,001-7,500 7,501-10,000
10,000+
Price per Square Foot Based on the year built (sold over the last twelve months) 600
$552
550
$ / SF
500
$450
450 400
$407
$398
$386
$395
350 300 <1970
1970s
1980s
1990s
2000s
2010s
WALT DANLEY CHRISTIE'S INTERNATIONAL REAL ESTATE MARKET DATA REPORT - May, 2022
North Scottsdale
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley and our clients. Information contained in this report has been prepared by Walt Danley in conjunction with The Cromford Report exclusively for WD and their clients. All other use is expressly forbidden. © 2022
North Scottsdale - May 2022 On May 1st, we had 356 active listings, up from 334 last month but down 21% from a year ago. Closed sales totaled 195 during April, down 33% from 291 in April 2021. Prices continued to rise steeply. The twelve-month moving average $/SF came in at $462, up 31% from $354 in April 2021, while the six-month average rose from $385 to $491. The volatile three-month average was $520 having been $406 a year earlier, an increase of 28%.
Average Price per Square Foot for Closed Transactions the Last 10 Years
550 500
400 350 300 250
rJu 1 2 l O c -12 t Ja - 1 2 n A p -13 rJu 1 3 l O c -13 t Ja - 1 3 n A p -14 rJu 1 4 l O c -14 t Ja - 1 4 n A p -15 rJu 1 5 l O c -15 t Ja - 1 5 n A p -16 rJu 1 6 l O c -16 t Ja - 1 6 n A p -17 rJu 1 7 l O c -17 t Ja - 1 7 n A p -18 rJu 1 8 l O c -18 t Ja - 1 8 n A p -19 rJu 1 9 l O c -19 t Ja - 1 9 n A p -20 rJu 2 0 l O c -20 t Ja - 2 0 n A p -21 rJu 2 1 l O c -21 t Ja - 2 1 n A p -22 r-2 2
200 Ap
$ / SF
450
Number of listings by Status for the Last Two Years
200 160 120 80 40
-J 2 0 ul -A u 20 g -S e 20 p -O 20 ct -N o 20 v -D e 21 c - Ja 21 n -F e 21 b -M a 21 r -A 2 1 pr -M a 21 y - Ju n 21 -J 2 1 ul -A u 21 g -S e 21 p -O 21 ct -N o 21 v -D e 22 c - Ja 22 n -F e 22 b -M a 22 r -A 2 2 pr -M ay
20
20
- Ju
n
0
Active
Accepted Offers
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed with in the entire month.
Average Price
$3,680,685
Active
$2,378,911
Under contract
$1,678,576
Sold - Last 12 Month
0
0.5M
1M
1.5M
2M
2.5M
3M
3.5M
4M
$
The average list price of Active listings is measured the 15th of each month. Note: the "Under Contract" price is the list price, not the contract place. The contact place is not revealed until the transaction closes.
Market Activity by Price Range
97
90 70 50 30
45
58
57 53
51
48
45
33
34
30
33
32 31
43
38 25
31
30 33
10 $500K-$1M
$1-$1.5M Active
$1.5-2M
New This Month
$2-3M
Offers Accepted This Month
$3M+
Sold This month
Active listings were measured on the 15th of the previous month. The number for New This Month, Accepted Offers, and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
$500K-$1M $1-$1.5M
.5 .7 1
$1.5-2M
1.3
$2-3M $3M+ 0
4.5 1.00
2.00
3.00
4.00
5.00
6.00
Months inventory
The number of months it would take to sell all the current active listings based on the rate of sales over the last 6 months assuming no new listings were added.
$922
Average Price per Square Foot by Price Range
$790
900
$694
800
300 250
$329 $342 $336
400
$421 $389 $377
500
$500K-$1M
$1-$1.5M Active
$599 $573 $503
600
$455 $485 $424
$ / SF
700
$1.5-2M
Under contract
$2-3M
$3M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The "Under Contract" price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Price per Square Foot
500 400 300
$384 $311
$527
$ / SF
600
$461
700
$655
800
$745
By Type
200
No Active Inventory Traditional Active
Closed - Last Month
Short Sale Active- 12 Mo Avg
REO Sold - 12-Mo Avg
Price per Square Foot Based on size of the home (sold over the last twelve months)
800
$775
750 700
$ / SF
650 600 550
$541
500
$474
450 400
$567
$394
$406
350 <3,000
3,001-4,000 4,001-5,000 5,001-7,500 7,501-10,000
10,000+
Price per Square Foot Based on the year built (sold over the last twelve months)
600
$561
560
$ / SF
520 480
400
$457
$436
440
$410
$401
$414
360 1970s
1980s
1990s
2000s
2010s
2020s
WALT DANLEY CHRISTIE'S INTERNATIONAL REAL ESTATE MARKET DATA REPORT - May, 2022
Paradise Valley
Information is power and the real estate professionals of Walt Danley Christie’s International Real Estate are committed to providing our clientele with the most up-to-date market intelligence available. The information contained in this report has been compiled from the Arizona Regional Multiple Listing Service and various public records. This data is then scrubbed and analyzed in conjunction with The Cromford Report exclusively for the use of Walt Danley and our clients. Information contained in this report has been prepared by Walt Danley in conjunction with The Cromford Report exclusively for WD and their clients. All other use is expressly forbidden. © 2022
Paradise Valley - May 2022 Supply in Paradise Valley rose during April, standing at 124 active listings as of the beginning of May 2022. This is down 31% from 179 at the same time last year. Closing counts came in at 41 for April, a modest number, especially compared with 79 in April 2021. Prices continued to advance at an even faster rate and the twelve-month average price per square foot now stands at $653, up 37% from $476 in April 2021. The six-month average stands at $720, up 38% from $523 last year, while the three-month average came in at $734, up 38% from $530 in April 2021.
Average Price per Square Foot for Closed Transactions the Last 10 Years
rJu 1 2 l O c -12 t Ja - 1 2 n A p -13 rJu 1 3 l O c -13 t Ja - 1 3 n A p -14 rJu 1 4 l O c -14 t Ja - 1 4 n A p -15 rJu 1 5 l O c -15 t Ja - 1 5 n A p -16 rJu 1 6 l O c -16 t Ja - 1 6 n A p -17 rJu 1 7 l O c -17 t Ja - 1 7 n A p -18 rJu 1 8 l O c -18 t Ja - 1 8 n A p -19 rJu 1 9 l O c -19 t Ja - 1 9 n A p -20 rJu 2 0 l O c -20 t Ja - 2 0 n A p -21 rJu 2 1 l O c -21 t Ja - 2 1 n A p -22 r-2 2
550 500 450 400 350 300 250 Ap
$ / SF
850 800 750 700 650 600
Number of listings by Status for the Last Two Years 200 160 120 80 40
20
-M
a 20 y - Ju n 20 -J 2 0 ul -A u 20 g -S e 20 p -O 20 ct -N o 20 v -D e 21 c - Ja 21 n -F e 21 b -M a 21 r -A 2 1 pr -M a 21 y - Ju n 21 -J 2 1 ul -A u 21 g -S e 21 p -O 21 ct -N o 21 v -D e 22 c - Ja 22 n -F e 22 b -M a 22 r -A pr
0
Active
Accepted Offers
Closed
This graph shows the number of homes that were active in the area as of the 15th of the previous month. It also shows the number of offers that were accepted and the number of transactions that were closed with in the entire month.
Average Price
$7,785,701
Active
$5,605,644
Under contract
$3,752,208
Sold - Last 12 Month
0
1M
2M
3M
4M
5M
6M
7M
8M
$
The average list price of Active listings is measured the 15th of each month. Note: the "Under Contract" price is the list price, not the contract place. The contact place is not revealed until the transaction closes.
Market Activity by Price Range 60
56
50 40 30 20 10 0
No Active Inventory
2
1
<$1M
8
$1-$2M Active
16 17 15
13
6
$3-5M
Offers Accepted This Month
18
10 11
7
$2-3M
New This Month
21
$5M+
Sold This month
Active listings were measured on the 15th of the previous month. The number for New This Month, Accepted Offers, and Sold represent the quantities for the entire previous month.
Inventory - Number of Months Supply
<$1M $1-$2M $2-3M
No Active Inventory .02 .7 1.4
$3-5M
7.6
$5M+ 0
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
Months inventory
The number of months it would take to sell all the current active listings based on the rate of sales over the last 6 months assuming no new listings were added.
0.4K
$821 $607
$511
$565 $523
0.6K
$463
$ / SF
0.8K
$638 $687
$823 $719
1K
$1,056
$1,083
Average Price per Square Foot by Price Range
0.2K 0 $1-$2M
$2-3M
Active
$3-5M
Under contract
$5M+
Sold - Last 12 Mo
Figures for Active and Under Contract were compiled on the 15th of the previous month. Note: The "Under Contract" price is the list price, not the contract price. The contract price is not revealed until the transaction closes.
Price per Square Foot
$642
$ / SF
800
$821
$826
1000
$946
$999
By Type
600 400 200
No Active Inventory Traditional Active
Closed - Last Month
Short Sale Active- 12 Mo Avg
REO Sold - 12-Mo Avg
Price per Square Foot Based on size of the home (sold over the last twelve months)
800 760
$720
$ / SF
720 680
$682
640
$626
$643
$627
$606
600 560 <3,500
3,501-5,000 5,001-7,000
7,001-9,000 9,001-12,000
12,000+
Price per Square Foot Based on the year built (sold over the last twelve months) 900
$856
850 800
$769
$ / SF
750 700 650
$631
600
$594
$581
550
$576
$598
500 <1970
1970s
1980s
1990s
2000s
2010s
2020s