Scottsdale Market Trends
Scottsdale Market Trends
Wondering what the market is like in the Scottsdale metro area? Below is the current data for home prices, inventory and market activity for greater Phoenix area, including Scottsdale. The Scottsdale real estate market has been on an upturn since the end of 2011, when home prices were astonishingly low. Now, the median sales price for single-family homes in Maricopa County is up 26.3 percent from last year, and the average sales price is up 21.7 percent. The number of foreclosures and short sales on the market has dropped dramatically, plummeting nearly 80 percent over the past year. Inventory is also relatively low, which has fueled rising home prices. Phoenix and Scottsdale home prices are expected to continue their climb at a slow and steady incremental rate.
For more information on the current market trends in Phoenix and Scottsdale check out recent articles, or contact Carmen Brodeur at (602) 791-0536 or email Carmen@TopScottsdaleHomes.com.
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Phoenix and Scottsdale home prices are on the rise. The median sales price for homes in Maricopa County hit bottom in late 2011. Prices have been increasing at a steady rate throughout 2013. |
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This chart shows the Median Sales Price for homes in Maricopa County for the past 7 years. This is an excellent historical perspective of the market. It is very clear that the median home price has increased each quarter since the third quarter of 2011. While home prices have skyrocketed, the median sales price for homes in Maricopa County is still well under what it was during the first quarter of 2006. |
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The Phoenix and Scottsdale housing market has improved significantly in the past year. We have seen an increase of 26.3% in the median sales price within the last year. Homes are selling for 98.6% of list price on average due to the high competition amongst buyers. |
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Metro Phoenix foreclosures are down significantly – a result of the vastly improving market. However, this means that there are far fewer foreclosures on the market than there are buyers interested in foreclosures. There simply aren’t enough foreclosures on the market to satisfy all the buyers who want to purchase a foreclosure. Because of this increased competition, many foreclosures and short sales sell for above the list price. The decreasing number of Phoenix foreclosures has contributed to rising home prices. |
Stay informed on the latest Scottsdale AZ real estate market trends for 2013 by bookmarking this page. The real estate trends in Phoenix and Scottsdale are completely different than the national trends. This page is updated frequently to keep you informed on the changes in the market. Research the latest Scottsdale real estate market trends and housing statistics right here. We want all of our clients to have access to the most current Scottsdale real estate stats and trends.
Please call Carmen Brodeur at (800) 300-0263 with any questions.
