Paradise Valley Homes for SaleHomes for Sale Paradise Valley AZ : PARADISE VALLEY HOUSING MARKET INFORMATION
With a population of 14,502, 5,441 total housing units (homes and apartments), and a median house value of $1,908,568, Paradise Valley house prices are not only among the most expensive in Arizona, Paradise Valley real estate also is some of the most expensive in all of America.
Paradise Valley is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Paradise Valley than is found in 98% of the communities in America.
The large homes that make up Paradise Valley are primarily owner-occupied ( 93.08%).
There is a lot of housing in Paradise Valley built from 1970 to 1999 so parts of town may have that “Brady Bunch” look of homes popular in the ’70s and early ’80s, although some of these houses were built up through the early ’90s as well. There is also a lot of housing in Paradise Valley built between 2000 and later ( 23.03%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.79%).
Vacant housing appears to be an issue in Paradise Valley. Fully 12.44% of the housing stock is classified as vacant. Left unchecked, vacant Paradise Valley homes and apartments can be a drag on the real estate market, holding Paradise Valley real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
PARADISE VALLEY HOME APPRECIATION RATES
In the last 10 years, Paradise Valley has experienced some of the highest home appreciation rates of any community in the nation. Paradise Valley real estate appreciated 59.83% over the last ten years, which is an average annual home appreciation rate of 4.80%, putting Paradise Valley in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Paradise Valley definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout’s data show that during the latest twelve months, Paradise Valley’s appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Paradise Valley’s appreciation rate has been 2.42%, which annualizes to a rate of 10.02%.
Importantly, this makes Paradise Valley one of the highest appreciating communities in the nation for the latest quarter, and may signal the town’s near-future real estate investment strength.
Relative to Arizona, our data show that Paradise Valley’s latest annual appreciation rate is lower than 70% of the other cities and towns in Arizona.
This information has been provided to you by: https://www.neighborhoodscout.com/az/paradise-valley/real-estate#descriptionFind real estate for sale in Phoenix and surrounding areas by selecting from our results below, or by entering your search criteria.
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