Happy May everyone! Can you believe we are already on the brink of summer? Summer in Paradise Valley means scorching temperatures but as far as the real estate market goes activity is starting to cool down. The median home price in Paradise Valley Arizona has dropped to $1,200,000, an 18.9% from March. Good news is we are still up from April of last year, which was $1,155,000. Also, the number of listings that came on the market, in April, are down 14.8% from March and closed sales are up a whopping 37.8%, with 51 closed sales in April. Finally, new contracts are down 17.5% from March. What does this all mean? The lower inventory of listings and uptick of closed sales makes for an excellent sellers’ market, however the lower number of new contracts mean less closings in the coming months. During these up and down activity months it is more important than ever to consult a real estate professional that knows the Paradise Valley market.
Considering a purchasing or selling a property in Paradise Valley? Call Joe and Linda Szabo – The Real Estate Experts!
We hope that you enjoy reading and analyzing the Paradise Valley Luxury Home Report and should you have any questions or comments, please feel free to Contact Joe Szabo at 480.688.2020 or email him directly at [email protected] or [email protected]. You can also visit https://www.AZLuxuryHomes.com or https://scottsdalerealestateteam.com to find out more about Paradise Valley Homes for Sale and Estates for Sale in Paradise Valley and to search the Paradise Valley MLS for Scottsdale Home Listings.
Please note that this Paradise Valley Real Estate Blog is for informational purposes and not intended to take the place of a licensed Paradise Valley Real Estate Agent. The Szabo Group offers first class real estate services to clients in the Scottsdale and Paradise Valley Greater Phoenix Metropolitan Area in the buying and selling of Luxury homes in Arizona. Award winning Realtors and Re/MAX top producers and best real estate agent for Luxury Homes in Paradise Valley, The Szabo group delivers experience, knowledge, dedication and proven results.