It’s finally starting to look like Scottsdale has hit the bottom of the local real estate market, as it relates to average sales price per square foot.
Look at the following three charts for the southernmost zip codes of Scottsdale.
In Scottsdale 85257, real estate prices have shown a slight increase since the beginning of the year, with average price per square foot moving from $91/sf to $96/sf.
Moving north to Scottsdale 85257, it looks like home prices are really taking off, jumping from a low of $130/sf in February 2012 to $146/sf in June. That’s a 12% increase in 4 months!
And then in the next zip code north, Scottsdale 85250, prices are still on the rise, but not quite so quickly. From a low of $129/sf in March of this year, increasing to $137/sf in June. While not so dramatic as in 85251, the increase of 6% in three months is still huge.
Next, I’ll look at home prices in central Scottsdale, and then will share that same stats for North Scottsdale.
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