Whether you’re looking to invest in luxury Paradise Valley real estate or searching for your dream home, you’re in for a treat.
Locals agree that Paradise Valley truly lives up to its name. From beautiful vistas to magnificent properties to a low crime rate and excellent schools, this area is a property owner’s dream come true.
Is owning your own little slice of Paradise Valley real estate a reality for your future? Here’s what you need to know to make the best possible decision.
Paradise Valley Demographics
Paradise Valley is one of Arizona’s luxury neighborhoods just west of Scottsdale. With a population of 14,355, this area holds a small town America charm with an upscale ambiance.
Take a look at a few of the key demographics of Paradise Valley:
- Median age is 53
- Median income is $151,184
- Population is almost split equally between male and female
- 71% are college graduates
Paradise Valley Real Estate Value
Recent housing market data for Paradise Valley reveals that the median home value is $1,657,900.
Just 2 years prior, the area was a certain buyer’s market. The median home value had dipped before experiencing a spike of several hundred thousand just a few months later.
This increase is good news for buyers and sellers alike.
On the selling side, homeowners are positioned for higher selling prices than they were just one year ago.
For buyers, the increase bodes well for the neighborhood’s desirability. If you’re purchasing investment properties, you can charge competitive rent. Considering the limited number of rental properties in Paradise Valley, the demand will be high. Especially when events such as the Waste Managment Open, the Barrett Jackson, and even Spring Training are taking place, which all bring high net worth individuals to the Valley by the thousands.
Why Choose Paradise Valley?
Aside from being a classy place to live, Paradise Valley is also one of Arizona’s prime tourist destinations. The area spares no luxury. Golf courses, nearby shopping, fine dining restaurants, outdoor sports and recreation, and pristine parks make this place a desirable place to visit or live.
Homes are generally large and spacious and have a tendency to make every day feel like a vacation.
The biggest question most buyers and sellers face is: Is this a good time to buy or sell?
Arizona’s luxury real estate market is often seasonal, and Paradise Valley usually follows suit. Summertime usually sees less inventory than cooler months, which can slightly drive up selling prices.
As homeowners return to the area post-summer vacations, more homes become available on the market.
This increase doesn’t affect the prices of homes dramatically, especially since the real market isn’t nearly as distressed as it was just a few years prior.
If you’re thinking of selling your property in Paradise Valley, you’re entering the market at a great time. You should be able to turn a profit on your home, especially as we’re approaching the summer selling season.
For buyers considering a home in Paradise Valley, the time to act is now. Interest rates dipped as low as they were going to a couple years ago, and they’re starting to rise again. Plus, you should have plenty of homes to choose from without compromise.
Get Started Today!
If you’re looking to invest in Paradise Valley real estate, there’s never been a better time to buy or sell.
Interested in learning more about Paradise Valley and other luxury neighborhoods in Arizona? Download our free ebook today!
As a top PV real estate agent, Thomas Osterman specializes in helping home buyers find the perfect Paradise Valley real estate. Get in touch with him today to learn more!
Call Thomas at (602) 466-1846 and enjoy a more personalized real estate experience.
Read Related Articles: