Paradise Valley, AZ – Real Estate Market Data – December 2012
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December Property sales were 42, up 7.7% from 39 in December of 2011 and 31.3% higher than the 32 sales last month. December 2012 sales were at their highest level compared to December of 2011 and 2010. December YTD sales of 451 are running 1.3% ahead of last year’s year-to-date sales of 445.
The Median Sales Price in December was $917,500, down 16.6% from $1,100,000 in December of 2011 and down 21.3% from $1,166,250 last month. The Average Sales Price in December was $1,128,917, down 5.7% from $1,197,123 in December of 2011 and down 11.2% from $1,271,475 last month. December 2012 ASP was at the lowest level compared to December of 2011 and 2010.
The Total Inventory of Properties available for sale as of December was 280, down 3.8% from 291 last month and down 4.8% from 294 in December of last year. December 2012 Inventory was at its lowest level compared with December of 2011 and 2010. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2012 MSI of 6.7 months was at its lowest level compared with December of 2011 and 2010.
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 150, up 41.5% from 106 days last month and down 8.0% from 163 days in December of last year. The December 2012 DOM was at its lowest level compared with December of 2011 and 2010.
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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.