Paradise Valley offers beauty and tranquility within the
desert landscape. Paradise Valley was incorporated as a Town on May 24, 1961. Today,
the Town is 16 square miles, with a population of 12,820 and approximately 5,643
homes. The Town of Paradise Valley is conveniently located between two large
municipalities – the City of Scottsdale to the east and the City of Phoenix to
the west.
Within Paradise Valley residents can enjoy world-class
destination resorts such as the Camelback Inn, Hermosa Inn, Sanctuary on
Camelback Mountain, and Smoketree Resort. These resorts add to the beauty of the
Town. Other Town resorts include Doubletree Paradise Valley Resort, Montelucia
Resort, Renaissance Scottsdale Resort and Scottsdale Plaza Resort. The resorts
offer residents numerous recreational opportunities, such as golf and tennis,
as well as some of the finest dining in the area.
Within Paradise Valley residents can enjoy world-class
destination resorts such as the Camelback Inn, Hermosa Inn, Sanctuary on
Camelback Mountain, and Smoketree Resort. These resorts add to the beauty of the
Town. Other Town resorts include Doubletree Paradise Valley Resort, Montelucia
Resort, Renaissance Scottsdale Resort and Scottsdale Plaza Resort. The resorts
offer residents numerous recreational opportunities, such as golf and tennis,
as well as some of the finest dining in the area.
There are top-rated school districts from three schools
districts which include Scottsdale Unified School District - Chaparral and
Saguaro High Schools, Cocopah and Mohave Middle Schools, Cherokee and Kiva
Elementary Schools; Phoenix Union High School District – Camelback High School;
Creighton School District - Biltmore Prep School.
Prominent private schools include Phoenix Country Day
School, Kachina Country Day School, Tesseract School, Desert View Learning
Center, and Pardes School.
Paradise Valley also offers popular tourist attractions and
landmarks, including Camelback Cemetery, a historic cemetery, originally part
of Weaver’s homestead. Cosanti is a gallery built by Paoli Soleri on five acres
of land. El Chorro Lodge’s history began as the home of the Bell Family, and
eventually became El Chorro Lodge. Mummy Mountain, which resembles an Egyptian
mummy lying down, and the Mummy Mountain Preserve Trust, which perpetuates and
preserves the natural open space, landscape, desert plants, wild life and
scenic beauty of the hillside areas of the Town. Additionally, Paradise Valley
Country Club has been a great benefit to local resort and local real estate.
Places of worship include Ascension
Lutheran Church, Calvary Church of the Valley, Camelback Bible Church, Palo
Cristi Presbyterian Church, Christ Church of the Ascension, First Southern
Baptist Church of Scottsdale, Gloria Dei Lutheran Church, Paradise Valley
United Methodist Church, St. Barnabas on the Desert, Temple Solel and Unitarian
Universalist Church of Phoenix.
Paradise Valley, AZ – Real Estate Market Data – October 2012
Click here for full report – Paradise Valley Market Data
Property Sales
October Property sales were 39, up 50.0% from 26 in October of 2011 and 30.0% higher than the 30 sales last month. October 2012 sales were at their highest level compared to October of 2011 and 2010. October YTD sales of 377 are running 0.3% ahead of last year’s year-to-date sales of 376.
Prices
The Median Sales Price in October was $980,000, up 16.1% from $844,000 in October of 2011 and down 4.4% from $1,025,000 last month. The Average Sales Price in October was $1,283,516, up 23.6% from $1,038,573 in October of 2011 and up 10.5% from $1,162,072 last month. October 2012 ASP was at the highest level compared to October of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of October was 285, up 9.2% from 261 last month and down 5.3% from 301 in October of last year. October 2012 Inventory was at its lowest level compared with October of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2012 MSI of 7.3 months was at its lowest level compared with October of 2011 and 2010.
Market Time
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for October was 139, up 24.1% from 112 days last month and down 4.8% from 146 days in October of last year. The October 2012 DOM was at a mid level compared with October of 2011 and 2010.
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Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
