The median list price for re-sale residential homes in Scottsdale has been rising steadily since last fall.
However in most Scottsdale zip codes, the prices increases are seen in the upper 25% of the price range. In the following charts, the first group is defined as lowest 25% priced homes and increase up to the fourth quadrant which includes the highest 25% priced homes.
The time that it takes to sell a home is still increasing, and overall shows no sign of tapering off.
However, when the data is broken down by home price, it’s easy to see that the lower priced end of the market may be showing some signs of relief.
And then finally, the number of homes being sold has improved since last summer, but shows some signs of tapering off.
As would be expected, homes in the lower price ranges are selling at a higher and more consistent pace, than the upper end of the Scottsdale real estate market.
Scottsdale has weathered the real estate market changes better than many other Phoenix metropolitan cities. I think it will be interesting to see where the next couple months take us. As always, comment, email, or call, if you have any questions, or would like more detail.