Believe it or not, you can buy real estate in Scottsdale for under $100,000, especially in today’s market. Granted there are not many homes in this price range, when compared to the whole Scottsdale market, but they are available. Twenty eight homes, primarily condos, have sold in the city at these entry level prices, since the first of the year. Most are located in the southern part of the city, but a few are further north, in McCormick Ranch.
Scottsdale Homes Sold in 2008 for $100k or less
Here are a few of the details:
| Type | # Sold | Avg. Size | Avg. Price |
| Coop | 5 | 683 sf | $ 52,760 |
| Condo | 18 | 703 sf | $ 84,344 |
| Townhouse | 3 | 893 sf | $ 95,600 |
| Patio Home | 1 | 624 sf | $ 75,000 |
| Manufactured Home | 1 | 648 sf | $ 99,900 |
| Detached Single Family | 0 | - | - |
Most of the condos and townhouses are in Belcara at McCormick Ranch (85258) and Woodland Springs (85251), with others in Ciento, Rancho Antiguia, Summerfield, Hallcraft Villas, and Quail Point.
As of today, three homes listed at $100,000 or less are under contract, and 48 more are on the market. The average time to sell since the beginning of the year has been 110 days, but in looking at just the past three months, the average has dropped to 74 days. Still, we have a significant inventory in this price range.
Prices for single family homes are starting at $121,000 today. In my next market report, I’ll focus on the homes price between $100,000 and $200,000, since that is where most first-time home buyers are looking.
{ 3 comments… read them below or add one }
Isn’t it amazing. I’m seeing prices similar to the mid 1990′s in some areas and many properties are below replacement cost. Not in Scottsdale but on the outskirts we’re having clients buy beautiful newer homes in the $100K range. We have investors buy homes and they will cash flow!
Artur, Times are interesting. It has been quite a while since we’ve seen prices, such that a property would have positive cash flow, from the get-go. Very good news for investors.
when are some of the realtors going to be arrested for false advertising, the bank loan “officers” in jail for fraudulent misrepresentation.? recovery will NOT occur until all junk loans out of system and real people with real jobs/ethical are purchasing homes ~2013-2015. enjoy the ride phoenix, self induced.