With 45 homes sold in one week in May, the Paradise Valley market is hitting notes not reached since 2005.
Mike Orr of the Cromford Report tweets, “ARMLS sales numbers taking off in Paradise Valley – latest monthly rate of 45 exceeds all prior records for week 19 (May)”
That’s a little misleading because many other weeks in 2003, 2004 and 2005 saw more than 45 homes sold.
While the number of homes sold was a throwback to 2005, the average price of homes sold was more like 2002.
Average Price of Homes Sold in May in Paradise Valley
2002 $269/SF
2003 $241/SF
2004 $284/SF
2005 $298/SF
2006 $460/SF
2007 $455/SF
2008 $402/SF
2009 $335/SF
2010 $251/SF
2011 $265/SF