Paradise Valley’s luxury housing market is unlike much of the Valley, as many wealthy buyers are unaffected by high interest rates and pay cash; however, real estate professionals say there is an issue with a lack of inventory and climbing prices at a median of $2.5 million and $3.5 million.
“I feel like we have a clogged market – like a chessboard with no place to go,” said Joan Levinson. “PV prices have gone up substantially and we have a very large lack of inventory that’s really driving the market more than anything else.”
Levinson has 35 years of experience in luxury real estate. She has sold many estates in Paradise Valley and can likely tell prospective buyers the last three people who have lived in a house. She also handles pocket listings for private buyers.
