Paradise Valley Arizona Real Estate Market Report December 2011
The Paradise Valley AZ Real Estate Market is holding it's own. We have still have a 8.1 months supply of home available on the market which is much higher than many other Phoenix Metro area cities and that very likely due to the overall higher priced luxury homes as compared to other Metro cities. The pool of buyers is higher in the under $350K price of homes as compared to luxury homes, neighborhoods and amenities.
Pending sales are up by quite a bit from the previous month. This could be due to the high number of luxury short sale values we have in this market and the influx of winter visitors looking to purchase at the low end. m
Closed sales have gone up this slightly this month so we're trending in the right direction. This very well maybe due to the high level of short sales that were pending in the previous months and have now, finally closed. Short sales in the previous years took longer than REO's or traditional sales to close but just recently we've been seeing short sales closing within 60 to 90 days or so which is very good for everybody involved. I expect that this will continue the next few years as banks improve their short sale systems and we work through our inventory of short sales.
There were 430 closings in 2011 which is UP 201 closings in 2010.
Home Closings up 114% in Paradise Valley
This is a significant increase in real estate closings for Paradise Valley AZ!
Remember, when the media blows the doom and gloom horn about the Paradise Valley Real Estate Market - Do Not Believe One Word of that News. Investigate for yourself.
Many people ask me "Is it the time to buy real estate in Paradise Valley Arizona"? And yes for most folks it is the time to buy real estate in Paradise Valley. Why? Prices are rock bottom, interest rates are low and you're got a wide selection of luxury homes and neighborhoods available. Paradise Valley is one of the premier luxury home areas within the Phoenix Metropolitan area. There are gorgeous homes in beautiful neighborhoods, plenty of golf courses, fabulous mountain views plus your choice of restaurants and shopping.
Life is good in Paradise Valley Arizona!
Looking to buy or sell a Paradise Valley AZ Area Home?
Give Anna 'Banana' Kruchten a call today 602-380-4886
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