Paradise Valley, AZ

Paradise Valley, AZ (85253) is currently experiencing a Very Weak market condition in May 2026. This is characterized by a significant decline in new listings and pending ratio, coupled with an increase in active listings.

The median listing price has increased 7.9% MoM to $5,395,000, but shows a YoY decline of 3.7%. Active listings have increased 10.9% YoY to 265, while new listings have sharply decreased by 30.0% YoY to 28. The pending ratio stands at 0.17, a YoY decrease of 4.4%, indicating slower absorption of available properties. Properties are spending slightly more time on the market, with median days on market at 93, a 3.9% increase YoY. The share of price-reduced listings has risen to 26.1%, up 5.5% YoY.

The declining pending ratio and increasing active listings suggest a reduction in the pace of transactions. The notable YoY decrease in new listings indicates that fewer sellers are entering the market, potentially due to prevailing conditions. The increase in price reductions further points to a market where price discipline is weakening. This environment suggests that purchasers have increasing opportunities for negotiation, while vendors face challenges in achieving their desired pace and price.

The average listing price of $6,714,746 significantly exceeds the median listing price of $5,395,000, indicating a substantial premium for higher-end properties. Median price per square foot is $1,009, representing a 6.4% increase YoY, demonstrating continued strength in per-square-foot values at the median, despite broader market weakness. The relatively higher average listing price compared to the median also suggests a strong upper tier within the market, where pricing may be more resilient or subject to less movement than the median as a whole, although the average listing price experienced a 3.1% YoY decline.