Subject: Paradise Valley Weekly - 22 New Listings, Statistical Update from ASU Real Estate Center

The latest summary from ASU's real estate research center is available here. Some highlights:
  • Throughout the Phoenix metro area, the average sale price per square foot is up 20% to $128 for single family homes.
  • Paradise Valley's average selling price moved up 16% to $326 per square foot.
  • Single family home sales in the last year were up for new home sales and traditional resales, but down dramatically for short sales, bank foreclosures, investor flips, and trustee sales. In sum, the market is very "normal" with distressed deals few and far between compared to a couple of years ago.
  • Cash deals remain dramatically above the long term range of 7-12% at 26% of purchases, but down from 36% the prior year.
  • Overall demand is down with unit sales down 17%, as investors pull back their purchases with distressed deals harder to find.
Closings
Closings were very strong in Paradise Valley last week, up to $18.2 million. 3 sales were over $3.5 million and all of them were on market less than 60 days.

Average sales price was up to $2.6 million and $407 per square foot. Very strong numbers indeed! The weighted average year of construction was 1990, a younger mix from the prior week at 1977.

New Listings
A large selection of new listings this week ranging from $689k to $6.5 million. Some homes that are worth taking a look sooner than later:

Estate with Impeccable Interior Design
The attention to detail on this home's interior is truly exceptional. Just under 11,000 square feet it offers 8 bedrooms and numerous amenities including media room, game room, 6 car garage, gorgeous kitchen, and a yard suited for entertaining on a grand scale. Offered at $5.25 million.
--> Click Here for Report

Soft Contemporary with Spectacular Views
Custom home with views of the city lights and Camelback Mountain. Open kitchen is a chef's dream with Viking range and dual Sub Zero refrigerators. Cabinetry includes African Anigre and Albino Burl woods. A superb home offered at $2.8 million.

5.8 Acres in Prime Area with Views
Few lots of this size and quality ever come available. The lot is flat, offers exceptional views, and is located near Sanctuary Resort. Offered at $6.5 million. 
--> Click Here for Report


To see all of this week's new listings please click here.

To see everything on the MLS in Paradise Valley please click here.

That's all for this week, I'll be back next week with all the latest in Paradise Valley real estate.

Thank you,
Alex
SearchParadiseValleyProperties.com
iParadiseValley.com
(480) 442-7325


p.s. My book on real estate, co-authored by Brian Tracy, can be found on Amazon here.


































(c) 2014 Alex Goldstein PLLC
Realty One Group, 7975 N Hayden Road #101, Scottsdale, AZ 85258, United States
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    This is an online snapshot of a newsletter created by the owner of Search Paradise Valley Properties (Realty One Group, 7975 N Hayden Road #101, 85258 Scottsdale, United States) and sent via GetResponse on 2014-02-22. Report abuse