- Quarterly Market Review -
A Review Of Key Market Differences Year over Year
2nd Quarter 2023 | 2nd Quarter 2024
SINGLE-FAMILY HOMES
Sold
SINGLE-FAMILY HOMES MARKET SUMMARY | 2nd Quarter 2024
Official Market Type: Seller’s
Current inventory levels exceed those of the past three years, approaching the volume seen at the onset of the pandemic in 2020. However, the volume remain historically low compared to the prepandemic market. As we enter Q3 2024, the number of homes for sale is similar to levels at the beginning of this year.
Out of the 94 homes sales during Q2 2024: 57 were all Cash & 19 were closed with Conv. financing.
It’s taking, on average, a little more than 2.5 months to sell a home in Paradise Valley
None of the sales from either quarter were categorized as distressed sales (REO, Short Sale, PreForeclosure etc.)
- Quarterly Market Review
Real Premier Team
As we review the real estate landscape in Paradise Valley for Q2 2024, the market is sending mixed signals. While buyer demand is reportedly outpacing supply, the number of listings under contract is the lowest we’ve seen since this time in 2007. Additionally, the average price per square foot has slightly decreased from $836.30 last year to $827.51.
In this evolving market, strategic planning and expert guidance are essential for sellers aiming to navigate these conditions effectively. Crafting a compelling pricing strategy and leveraging effective marketing tactics are vital steps to stand out amidst heightened competition and capture the attention of discerning buyers.
Committed to delivering unparalleled service and tailored insights, I’m here to assist you in seizing the opportunities presented by this market. Should you wish to delve into further detail or explore your options, don’t hesitate to reach out—I’m just a call away. Sincerely, Erica Anderson
