Twenty-five single-family homes closed in Paradise Valley in August 2026, at a median of $3,534,028. That is 23% below July's $4,600,000 — and it does not mean values fell. Median price per square foot went up, from $882 to $901.
Both things are true because the median measures the middle sale, not the market. When smaller, less expensive homes make up more of a month's closings, the median drops even if every individual home is worth what it was. August's sales ran from a 1,209 sq ft house at $1,085,000 to a $14,100,000 estate on Maverick Road. Change the mix and you change the median.
The August 2026 numbers
| August 2026 | July 2026 | |
|---|---|---|
| Homes sold | 25 | 32 |
| Median sale price | $3,534,028 | $4,600,000 |
| Median $/sq ft | $901 | $882 |
| Median days on market | 100 | 54 |
| Median % of asking | 96.2% | — |
Total volume was about $123.5 million. Against August 2025 the median is up 9.6%, and volume of sales is up sharply — though that comparison rests on a weak base, since August 2025 saw only 14 closings.
One caveat worth stating: August is preliminary. Sales are reported to the MLS for days to weeks after they close, so the count typically revises upward. Treat 25 as a floor.
Why did homes take twice as long to sell?
Median days on market went from 54 to 100. Part of that is seasonal — August is the deadest stretch of the Phoenix calendar, when buyers who can travel do. But it also reflects which homes cleared: August's closings skewed toward listings that had been sitting, rather than fresh inventory trading quickly.
Sellers still got close to their asking price. The median August sale closed at 96.2% of list, so the negotiation happened on the margin rather than in large concessions.
How the spec market compared
This recap covers all of 85253. The New Construction Index tracks one slice of it — the spec market, meaning homes listed within three years of being built, or not yet finished, and still being sold by the builder. Over the twelve months to August those homes sold at a median of $1,250 per square foot, across 54 sales. See the Index for current supply, which is recomputed from the MLS rather than fixed at the date of this recap.
Spec homes carry a large premium to the market as a whole: $1,250 per square foot against $901 for 85253 overall. That gap is the point of keeping the two figures separate, and it is why a spec figure should never be quoted as a Paradise Valley median.
What is on the market now
- 33 spec homes for sale, median asking $11,975,000 at $1,422 per square foot
- 9 teardown lots, median asking $2,949,990
- 18 vacant parcels, median asking $2,525,000, or about $2,178,899 per acre
Asking prices sit well above closing prices in the new-construction segment — $10.75M asked against $8.6M closed. That is not a discount waiting to happen; it reflects that the largest and most ambitious listings tend to stay on the market longest, pulling the asking median up.
Where to look next
- Every home that sold in August 2026 — all 25 sales, with photos, specifications and recorded prices.
- Paradise Valley Market Report — the whole 85253 market, updated continuously.
- New Construction Index — the three tracked segments, with the individual sales behind each median.
Thinking about what your own home would bring in this market, or what it would cost to build? A member of our team can walk you through the comparable sales that actually apply to your street.
Frequently asked questions
- What was the median home price in Paradise Valley in August 2026?
- The median single-family sale price in Paradise Valley (85253) in August 2026 was $3,534,028 across 25 closed sales, computed from ARMLS closed-sale records. That is about 9.6% higher than August 2025, but 23% below July 2026's $4,600,000.
- Did Paradise Valley home prices fall in August 2026?
- No. The median sale price fell 23% from July, but median price per square foot rose from $882 to $901. A lower median with a higher price per square foot means smaller and less expensive homes made up more of the month's sales — a change in the mix of what sold, not a decline in what homes are worth.
- How long did it take to sell a home in Paradise Valley in August 2026?
- A median of 100 days from listing to going under contract, up from 54 days in July 2026. August is the slowest stretch of the Phoenix-area calendar, and the homes that cleared in August had generally been on the market longer.
- How many new construction homes sold in Paradise Valley in August 2026?
- Five homes built in 2015 or later closed in August 2026, at a median of $8,600,000 and $1,205 per square foot. Four teardown properties closed at a median of $3,100,000, and one vacant lot closed at about $2,822,581 per acre.
- What was the most expensive Paradise Valley sale in August 2026?
- 6126 E Maverick Road at $14,100,000, followed by 6450 E El Maro Circle at $14,000,000 and 5717 E Via Los Ranchos at $11,200,000. August sales ranged from $1,085,000 to $14,100,000.
Talk to a Paradise Valley specialist
Tell us about your project and a member of our team will reach out.