Paradise Valley AZ – Real Estate Market Data – December 2011
Click here for full report – Paradise Valley 2011-12
December Property sales were 39, up 5.4% from 37 in December of 2010 and 14.7% higher than the 34 sales last month. December 2011 sales were at their highest level compared to December of 2010 and 2009. December YTD sales of 449 are running 16.9% ahead of last year’s year-to-date sales of 384.
The Median Sales Price in December was $1,100,000, down 2.2% from $1,125,000 in December of 2010 and up 13.6% from $968,000 last month. The Average Sales Price in December was $1,197,123, down 10.0% from $1,329,895 in December of 2010 and down 6.6% from $1,281,933 last month. December 2011 ASP was at the lowest level compared to December of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of December was 298, down 6.3% from 318 last month and down 27.0% from 408 in December of last year. December 2011 Inventory was at its lowest level compared with December of 2010 and 2009. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2011 MSI of 7.6 months was at its lowest level compared with December of 2010 and 2009.
The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for December was 163, up 0.6% from 162 days last month and up 1.9% from 160 days in December of last year. The December 2011 DOM was at a mid level compared with December of 2010 and 2009.
Copyright © Coldwell Banker Residential Brokerage – Data is provided courtesy of Arizona Regional Multiple Listing Service, Inc.; Tucson Association of Realtors and Prescott Area Association of Realtors and may not reflect all relevant real estate activity. Coldwell Banker Residential Brokerage does not guarantee the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.