Paradise Valley Real Estate Trends
Paradise Valley Real Estate Trends
Stay informed on the latest Paradise Valley real estate market conditions and sales prices. Our goal is to help all of our clients to fully understand the market trends in Paradise Valley, based on facts not rumors. There are several custom charts below showing Paradise Valley housing statistics. These charts are updated on a regular basis. Please call us at (800) 300-0263 if you have any questions about Paradise Valley AZ real estate trends.
Experts: Ariz. Jobs, home prices slowly rebounding
AP News | businessweek.com, May 16, 2013
PHOENIX (AP) – Job growth and home prices are slowly rebounding, but the state has a long way to go and automatic federal budget cuts aren’t helping, some of Arizona’s top business experts said Thursday.
Four faculty members from the W.P. Carey School of Business at Arizona State University delivered their latest forecasts at an annual economic outlook luncheon.
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Arizona has biggest mortgage delinquencies dip
The Republic | azcentral.com, By Russ Wiles, May 08, 2013
Arizonans are climbing out of mortgage hot water at a faster rate than anyone else in the nation
A new study shows the state had the biggest improvement in mortgage delinquencies over the past year – a further sign that the housing market is recovering and consumers are making progress in paying off debts.
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Arizona home-price jump surpasses national surge
azcentral.com, Associated Press, By Christopher S. Rugaber, May 07, 2013
WASHINGTON – A survey shows U.S. home prices rose 10.5 percent in March compared with a year ago, the biggest gain since March 2006.
But Arizona home prices gained 16.8 percent, according to Core Logic, a real estate data provider.
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Phoenix housing prices up 30% in past year
Phoenix Business Journal by Kristena Hansen, Reporter, May 03, 2013
Metro Phoenix kicked off the bustling home-buying season with another big price surge while the local supply problem worsened, according a report released Friday from Arizona State University.
Single-family homes across the Phoenix area saw prices climb by nearly 30 percent year-over-year in March to $175,000, the report said. That’s also a 3 percent increase from the previous month, although slightly less than the 4.3 percent price increase the Valley saw between January and February.
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Current Market Trends in Paradise Valley AZ
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On this chart you will see that the Median Sales Price for homes in Maricopa County has been steadily increasing over the last year. |
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This chart shows the Median Sales Price for homes in Maricopa County for the past 6 years. This is an excellent historical perspective of the market. It is very clear that the median home price has increased each quarter since the third quarter of 2011. The median price is however, still approximately half of what it was in 2006. |
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We have seen an increase of 33% in the median sales price between October 2011 and October 2012. Homes are selling for 100.2% of list price on average due to the high competition and multiple offers being received. The number of homes for sale is down 19.3% in the past 12 months. As inventory of homes for sale shrinks, there is less competition for sellers, which contributes to increasing home prices. |
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The number of foreclosures is down significantly. There are less than half as many foreclosures on the market today, as there was during 2010. There simply aren’t enough foreclosures on the market to satisfy all the buyers who want to purchase a foreclosure. The best foreclosures receive multiple offers within the first few days and often sell for over list price. The decreasing number of foreclosures is contributing to increasing home prices. |
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The Single Family Median Sales Price of all types of sales in Phoenix and Scottsdale was Up 33.9% between December 2011 and December 2012. The average price per square foot during the same time period was up 27.2%. Chart provided by Michael Orr from the WP Carey School of Business at Arizona State University. |
Stay informed on the latest Paradise Valley AZ real estate market trends for 2013 by bookmarking this page. The real estate trends in Paradise Valley are completely different than the national trends. This page is updated frequently to keep you informed on the changes in the market. Research the latest Paradise Valley real estate market trends and housing statistics right here. We want all of our clients to have access to the most current Paradise Valley real estate stats and trends.
Please call Carmen Brodeur at (800) 300-0263 with any questions.
