Paradise Valley, AZ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Paradise Valley Neighborhoods Since 2000




Paradise Valley, AZ Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Paradise Valley Housing Market Information

With 13,922 people, 5,258 houses or apartments, and a median cost of homes of $1,607,643, 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 ( 91.14%).

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 1940-1969 ( 24.09%). A lesser amount of the housing stock also hails from between 2000 and later ( 18.09%).

Vacant housing appears to be an issue in Paradise Valley. Fully 14.53% 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

Paradise Valley's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Paradise Valley during the period has been just -0.95%, which is lower than 70% of US communities.

Appreciation rates are so strong in Paradise Valley that despite a nationwide downturn in the housing market, Paradise Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Paradise Valley appreciation rates continue to be some of the highest in America, at 9.23%, which is higher than appreciation rates in 91.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Paradise Valley. Paradise Valley appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.

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 higher than 60% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$1,607,643

Paradise Valley, AZ HOME PRICES

Value Range
> $1,269,000 62.6
$951,001 - $1,269,000 17.6
$634,001 - $951,000 8.3
$507,001 - $634,000 3.1
$381,001 - $507,000 1.8
$254,001 - $381,000 3.0
$127,001 - $254,000 1.6
$63,001 - $127,000 1.2
$0 - $63,000 0.8

Very High for AZ
Very High for Nation

Value Relative to Nation Value Relative to State
0.316418610101957 0.675675675675676

Number Of Homes And Apartments:
5,258

Paradise Valley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
88.08% 3.73% 9 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,735 / per month

Homeownership Rate

Homeownership
Owners 91.14
Renters 8.86
Vacant 14.53

Housing Market Details

 

Age of Homes

AGE OF Paradise Valley HOMES
2000 or Newer 18.1
1970 - 1999 57.7
1940 - 1969 24.1
1939 or Older 0.1

Types of Homes

TYPE OF Paradise Valley HOMES
Single-Family 98.8
Townhomes 0.7
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Paradise Valley HOMES
No Bedroom 0.00
1 Bedroom 0.80
2 Bedrooms 6.10
3 Bedrooms 18.79
4 Bedrooms 45.58
5 or more bedrooms 28.74

Popular Neighborhoods in Paradise Valley

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Zip Codes in Paradise Valley, AZ