Saturday, May 19, 2012

ROBUST Defines April 2012 Sales

   April proved to be another robust month of sales in Paradise Valley. 45 sales closed in April 2012 -- 91% of them were “non-distressed” sales.  What a turnaround from a year ago! And, even more dramatic comparing it with 2010.
   April 2011 saw 38 sales -- 32% were "distressed" .  In April 2010 there were only 24 sales – 37% were "distressed" .
   The number of active listings has also dramatically changed.  Currently, there are 260 homes listed for sale on the MLS.  In 2010 there were 301, and in 2010, a whopping  410.  Click Here for Detailed Sales Report.

Monday, May 14, 2012

How Hot is the Paradise Valley market, really?

   I know that when you’re looking at homes in Paradise Valley, what you really want to know is "what’s going on in my price range?" – whether you're considering the sale of your existing home, or purchasing a new one.   
   The statisticians like to report how many months supply is available. It's figured by dividing the number of active listings by the average sales per month.  Even in the small town of Paradise Valley that number varies widely based on the price point.  Find your point of interest on the graph below and you’ll see what I mean.

    Under $1mm you'd better act fast if you want something.  $1 - $2mm with a 6-7 month supply is pretty much a seller's market.  Above that, it is going to depend entirely on the property and location. Top quality in a great location at the right price is selling quickly. But then, hasn't that always been the case?