October's First-Time Homebuyer Report for Paradise Valley

Paradise Valley has one of the most prosperous populations in Arizona with a median income of $158,467 per household. On top of being ranked the wealthiest city, its population is much younger than others with a median age of 51 years. The Paradise Valley market almost exclusively consists of detached houses, accounting for 98% of the current homes in the area. Heading the list of top schools in the city is Benjamin Franklin Charter School - Queen Creek.

Culture

If you are interested in some outdoor fun, Foursquare says that Echo Canyon Park / Camelback Trailhead and Camelback Mountain Summit Trail are the most popular places in Paradise Valley. If you like to dine out, some popular restaurants are El Chorro Lodge, Elements, and BLT Steak Scottsdale. You could also check out the popular Rita's Kitchen for a drink.

Price Range

The highest-priced homes in Arizona are in Paradise Valley, with a median home value of $917,500 and list prices averaging $2,201,883. The Paradise Valley market got positive news in this week's report, as the number of home sales shot up 30.0%, pushing the total to 26 homes sold over the last 30 days.

Out of all the listings in Paradise Valley, these have been viewed the most. So be sure to see what all the fuss is about with these fabulous homes.

$25M   $1.6M   $925K  

Typical Dwelling

The typical dwelling in Paradise Valley is a four-bedroom detached home worth about $1,676,786. To purchase a similar home, a buyer with good credit and a $335,357 cash down payment could obtain a mortgage with a 3.95% interest rate and a $5,914 monthly payment. The property tax rate is $7.57 per $1,000 of taxable assessed value.

Get started right now by checking out Paradise Valley homes for sale or reviewing Paradise Valley real estate trends.


Data reported through 10/13/2016

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