A couple things to know about Scottsdale residential real estate. First, median home prices in Scottsdale are significantly higher than the rest of metropolitan Phoenix. And this is a trend that’s held true over the past ten years. Median home prices in Scottsdale are currently in the $400K range, while Phoenix and other surrounding cities [...]
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Market Reports
The Scottsdale real estate market is definitely improving. While prices are still recovering, the number of sales per year is definitely back to the level of the pre-boom days. The dots in this chart above reflect the number of Scottsdale home sales in the previous 12 months. From cumulative sales of 5,086 in January 2001, [...]
I pulled up a copy of Scottsdale’s long-term home appreciation chart this morning, expecting to see more improvement than I do here: From a broader perspective, the trend is definitely to the positive, with a few intermittent months of plus-side appreciation, but still running in the negative overall. Sellers need to keep this perspective in [...]
A quick overview of key real estate indicators shows that overall 2011 was definitely a step in the right direction for Phoenix metro real estate. Total sales exceeded 100,000 transactions up, exceeding our last “normal” years in 2002, 2003, and 2004. Total new listings of 121,041 also approached the pre-boom years. Months supply of inventory [...]
Look at this chart for a striking view of the amazing free fall of total home inventory in Phoenix during 2011. The heavier line shows that from a high of 42,881 in January to a low of 24, 712 in December, housing inventory has dropped over 40%. No wonder buyers are saying things like, “I [...]
What a way to start the year on a positive note! Here’s the latest Phoenix real estate market update from the Cromford Report: Except above $800,000, sales prices in $/SF are now higher than a year ago. Inventory is falling again for all price ranges. Above $400,000 demand remains relatively weak. Lender-owned inventory is still [...]
Funny how fast prices can change. Realtors in the Phoenix and Scottsdale areas have been predicting price increases for at least the last six months. And look what we find today: 10 Cities Where List Prices Soared Last Month Number 2 on the list is the Phoenix-Mesa MSA (Metropolitan Statistical Area), of which Scottsdale plays [...]
