By Mike Bodeen · 15 June 2026
Paradise Valley, Scottsdale, Fountain Hills See Increase
This past Friday saw the greatest Initial Public Offering (IPO) of any company (SpaceX) in the history of the stock market. In one day one man became a trillionaire (that’s trillionaire – with a Tr) and thousands of SpaceX loyalists hit the jackpot, gaining hundreds of millions of dollars, becoming instant multi-multi-millionaires.
This news doesn’t directly affect our local real estate market, but what does affect it is the wealth being gained from rocketing stock prices. And in our market, that is translating to many paying large sums of money for nice homes in nice communities.
Of the top 5 cities on this chart, three (Fountain Hills, Scottsdale, and Paradise Valley) are in the NE Valley. Five cities scoring as seller’s markets are all in the North and NE Valley.
“This news doesn’t directly affect our local real estate market, but what does affect it is the wealth being gained from rocketing stock prices.”
What’s my point? It may be a fair statement to say that the more expensive communities in the valley are being driven by big gains from the nouveau riche, primarily in the stock market. Historically, this has been a common occurrence. These sales increase the average sales price of homes, whereas the more moderate and stable price indicator, the median average at this point seems to be the more accurate value bearing.
Of course, when the stock market drops, sales drop, and often prices do too. It’s the history of things.
As an example, the average monthly sales price is $615,000, but the median monthly sales price is $455,000. This means that in some communities, sales prices are very high, but for fewer homes, whereas one-half of all sales are at or below $455,000. If you’re a buyer, this is a more encouraging number, though your ideal home may not be in the location you might want it to be.
The chart also seems to indicate that the lowest CMI indicators are those communities located further out from the Valley center, such as San Tan Valley, Maricopa, Buckeye and Queen Creek. Each of these communities is solidly in a buyer’s market. If you’re looking for affordability these are the cities to check out.