This week we look at Paradise Valley's May stats in depth,
on the heels of the Phoenix area stats I sent you last week.

There are serious changes in the past year. Specifically,
from May 2011 to May 2012 in Paradise Valley:

* Total listings are down 22% to a 5 year record low of 276

* Days on market are down 29% to a 5 year record low of 138

* Sold price vs. list price is up to a 5 year record high of 86.9%



Also, new contracts are up 30.5% year over year.  If there were more
inventory contracts would almost certainly be up even higher.

Historically, the largest number of closings of $1 million+ homes is in May
or June.  Then, the number of closings drop precipitously as many well
heeled buyers choose to spend their summer out of the Arizona heat.

Thus, there may be a "last hurrah" buying opportunity this summer, for
those willing to brave the heat.  Once the weather cools and snowbirds return,
expect to see massive competition for properties in PV.

I hope this information has been helpful.  If you have questions or would like
to see homes, or get help valuing a home, please hit reply and I'll get to work.

Regards,
Alex
SearchParadiseValleyProperties.com


p.s. If you want to chat, my direct line is (480) 442-7325.