Arizona is one of the hottest markets in real estate. Since 2004, single family home sale prices have jumped an average of $20K or more, depending on their location. Houses for sale in the Paradise Valley are receiving offers over asking price since the demand is so high and the listings are so low. The average sale price is $1.2 million and its only on the market for 30 days or less!
The market is very tight with listings not meeting the demand in prime areas. The population growth, coupled with a good economic forecast for the southern regions, are fueling the positive real estate market. New construction permits continue to grow at .5% from month to month for close to five years.