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?

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