Scottsdale Real Estate Market Trends – Charts and Graphs
Scottsdale Real Estate Market Trends – Charts and Graphs
Everyone wants to know “How’s the Real Estate Market in Scottsdale?” View up to date market data on home prices, foreclosures and inventory. The Phoenix and Scottsdale real estate market has changed dramatically over the last year and a half. Phoenix-area home prices reached a low point in September 2011, followed by a sharp rise that’s expected to continue into 2013. The median single-family home price was up 35.4% in 12 months between November 2011 and November 2012. The median price shot up from $120,00 to $162,500 in that 12 month period.
Scottsdale home prices are steadily rising as foreclosures disappear. The number of distressed properties including foreclosures and short sales are down 43% in the past year. If you are in the market to buy or sell a home in Phoenix or Scottsdale, it is important to stay up to date on these trends. We also provide recent articles on Phoenix and Scottsdale market trends to give you additional information. Feel free to call Carmen Brodeur at (602) 791-0536 with any questions.
Everyone wants to know “How’s the Real Estate Market in Scottsdale?” View up to date market data on home prices, foreclosures and inventory. The Phoenix and Scottsdale real estate market has changed dramatically over the last year and a half. Phoenix-area home prices reached a low point in September 2011, followed by a sharp rise that’s expected to continue into 2013. The median single-family home price was up 35.4% in 12 months between November 2011 and November 2012. The median price shot up from $120,00 to $162,500 in that 12 month period.
Scottsdale home prices are steadily rising as foreclosures disappear. The number of distressed properties including foreclosures and short sales are down 43% in the past year. If you are in the market to buy or sell a home in Phoenix or Scottsdale, it is important to stay up to date on these trends. We also provide recent articles on Phoenix and Scottsdale market trends to give you additional information. Feel free to call Carmen Brodeur at (602) 791-0536 with any questions.
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On this chart you will see that the Median Sales Price for homes in Maricopa County has been steadily increasing over the last year. |
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This chart shows the Median Sales Price for homes in Maricopa County for the past 6 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. The median price is however, still approximately half of what it was in 2006. |
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We have seen an increase of 33% in the median sales price between October 2011 and October 2012. Homes are selling for 100.2% of list price on average due to the high competition and multiple offers being received. The number of homes for sale is down 19.3% in the past 12 months. As inventory of homes for sale shrinks, there is less competition for sellers, which contributes to increasing home prices. |
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The number of foreclosures is down significantly. There are less than half as many foreclosures on the market today, as there was during 2010. There simply aren’t enough foreclosures on the market to satisfy all the buyers who want to purchase a foreclosure. The best foreclosures receive multiple offers within the first few days and often sell for over list price. The decreasing number of foreclosures is contributing to increasing home prices. |
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The Single Family Median Sales Price of all types of sales in Phoenix and Scottsdale was up 33.9% between December 2011 and December 2012. The average price per square foot was up 27.2% between December 2011 and December 2012. Chart provided by Michael Orr from the WP Carey School of Business at Arizona State University. |
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.
