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PARADISE VALLEY REAL ESTATE MARKET UPDATE | OCTOBER 2021 | ARIZONA

Oct 2021 Sales Price per Square Foot

As we move into high season, the real estate market in Paradise Valley continues to maintain its record level price-per-square-foot but with a inventory continuing to rise off of record lows, we could see cooling in prices during the months ahead – time will tell. Limited inventory in buildable land is also driving up land prices leading to more tear-downs of older homes and rebuilding in the area. Quality, newer, modernized, and move-in ready homes still command top-dollar in today’s luxury market in Paradise Valley.

CURRENT PRICE PER SQUARE FOOT SOLD:

Oct 2021 Sales Price per Square Foot

A number of factors beyond price-per-square-foot sold go into determining the true value of your Paradise Valley home. If you would like a more accurate estimate of your home value, contact us today for a FREE value estimate (click here).

CURRENT MARKET CONDITIONS (BUYERS VS SELLER’S MARKET):

Oct 2021 Buyers Sellers Market Condition

When selling your home, it is important to consider the overall nature of the market and if it is a BUYERS MARKET, a SELLERS MARKET, or somewhere in between. These two market conditions generally mean the following:

BUYERS MARKET: Supply exceeds demand, home pricing decline, homes take longer to sell, more homes are for sale, and price reductions and lower offer prices are more common. Buyer’s markets typically see supply of homes for sale at or above 7 months.

SELLER’S MARKET: Demands exceeds supply, home prices increase, homes sell quicker, fewer homes are for sale, and good homes can result in “bidding wars.” Seller’s markets typically see supply of homes for sale at or below 5 months.

HOW WE CAN HELP YOU…

The Goldman Ruge Luxury Group provides luxury property owners, buyers, and sellers in Arizona with the highest level of service and support when dealing with one of the largest personal financial decisions our clients will make in Arizona. Our clients depend on us as their trusted advisors for all aspects associated with their luxury properties both including and beyond the home buying and selling processes by helping them protect and maximizing the asset value of their luxury properties. We primarily focus on luxury property sales in the Paradise Valley, Arcadia, Scottsdale, and Phoenix areas.

LET US HELP YOU…

FIND OUT WHAT YOUR LUXURY HOME IS CURRENT WORTH

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