Paradise Valley, AZ Real Estate Market

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 Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Paradise Valley, AZ Housing Market Trends

With 14,637 people, 5,352 houses or apartments, and a median cost of homes of $1,843,522, 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 ( 92.70%).

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 ( 22.82%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.21%).

Vacant housing appears to be an issue in Paradise Valley. Fully 12.13% 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 76.70% over the last ten years, which is an average annual home appreciation rate of 5.86%, putting Paradise Valley in the top 10% 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.

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 9.15%, which is higher than appreciation rates in 97.80% 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 2.42%, which equates to an annual appreciation rate of 10.05%.

Relative to Arizona, our data show that Paradise Valley's latest annual appreciation rate is higher than 70% of the other cities and towns in Arizona.

Average Home Values

 

Median Home Value:
$1,843,522

Paradise Valley, AZ HOME PRICES

> $1,213,000
75.2%
75.2%
$910,001 - $1,213,000
16.3%
16.3%
$607,001 - $910,000
3.3%
3.3%
$485,001 - $607,000
1.4%
1.4%
$364,001 - $485,000
0.9%
0.9%
$243,001 - $364,000
1.0%
1.0%
$122,001 - $243,000
1.5%
1.5%
$61,001 - $122,000
0.2%
0.2%
$0 - $61,000
0.1%
0.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for AZ

Value Relative To Nation

Number Of Homes And Apartments:
5,352

Paradise Valley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AZ*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
132.14% 4.09%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,642 / per month

Homeownership Rate

Owners
92.7%
92.7%
Renters
7.3%
7.3%
Vacant
12.1%
12.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
22.8%
22.8%
1970 - 1999
54.8%
54.8%
1940 - 1969
22.2%
22.2%
1939 or Older
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
98.4%
98.4%
Townhomes
0.9%
0.9%
Small Apt. Buildings
0.2%
0.2%
Apt. Complexes
0.6%
0.6%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.3%
0.3%
1 Bedroom
1.3%
1.3%
2 Bedrooms
4.5%
4.5%
3 Bedrooms
22.7%
22.7%
4 Bedrooms
45.1%
45.1%
5 or more bedrooms
26.1%
26.1%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Paradise Valley

Popular Communities Near Paradise Valley, AZ

Zip Codes in Paradise Valley, AZ