The real estate market in Paradise Valley has not been spared the declines seen in other parts of the Phoenix valley. It did take longer to realize these declines then the lower priced areas and especially the incomparable Phoenix outskirts. From 2007 to 2008 there was a double digit decline in median price. The graph below is live and will update as time progresses. Currently the inventory is increasing, the days on the market are increasing and the median price is decreasing.
Ending July 2008 there are 475 homes for sale. Considering the size of Paradise Valley this is a significant number, especially once you compare it to the sales of 20 in the last 30 days and the supply this represents. The inventory of home represents a supply for 24 months. A 2 year supply is very large. Take a look at the newest homes for sale in Paradise Valley, AZ Sellers in Paradise Valley need to be prepared for a very long sales process. The average time on the market for currently active properties is 220 while sold properties is at 228 days. This is above the Greater Phoenix average of 97 days. Still, there are homes selling in under 60 days but they need to very competitively priced and fully exposed to as many potential buyers as possible. If you would like a full 6 page report on the Paradise Valley real estate market let us know. | 
