Scottsdale home prices are still on the rise. Many home buyers who are just beginning to investigate Scottsdale real estate are shocked to see how vibrant the market. With a continued shortage of inventory, hungry home buyers, and slightly rising interest rates, competition is high and prices are going up as a result.
Comparing the average price per square foot for Scottsdale single family home sales, it’s easy to see that since January 2011, the local real estate market has definitely improved, significantly. From a –15% to a +20% rate of appreciation in less than 24 months.
Now, look at the long-term view, from January 2003 through February 2013. From positive single digit appreciation to a high of 40+% in 2005, dropping to –30% in 2008, and gradually improving to the current 20% range.
The good news with the improved health of the appreciating Scottsdale real estate market is that home owners now are seeing equity in their homes, and are selling now, either upsizing, or downsizing, depending on their age and lifestyle preferences.
If you have any questions about the current Scottsdale real estate market, please let me know.
And to do a quick search of the homes on the market in Scottsdale, please visit my Scottsdale Home Search.