Paradise Valley Market Report
Welcome to the October 2022 Paradise Valley, Arizona Market Report. Paradise Valley is considered to be in the East Valley and is Arizona’s wealthiest municipality, with a population of 12,682. The average home price in the month of October for Paradise Valley was $2,983,721, down $150,625 from the previous month of September. The average lease price per square foot in Paradise Valley listed on the MLS was $1.90 in October, down from $2.18 in September.
The total number of Paradise Valley homes sold in October was 19, down 7 sales from 26 in September. This has also been a common theme throughout the valley and is consistent with the time of year.
It took homes in Paradise Valley an average of 71 days to go under contract in October, which is 1 day longer than it took in September, at 70 days. As you can see from the chart, Paradise Valley has stayed relatively consistent in 2022 and is further proof that this area has little to no relationship with its neighboring city market trends. Paradise Valley is the most expensive city in the Phoenix Metro, ultimately creating its own market trends.