Here’s another example of how local real estate is. The news keeps reporting on the recovery of the Phoenix Metro real estate market, and it’s true, we have a very active market. However, from the charts below, you can see that, by city, there are some striking differences, particularly in Scottsdale. In the City of [...]
From the category archives:
Market Reports
Listen to Jim Sexton, Designated Broker of Realty One Group, share his real estate market insights for March 2012. Some of his notable quotes: “Hot, hot, hot” “I could sell houses if I could find them, if they were on the market” “2 months supply of inventory” “Look for a continued strong market” “Absolute positive [...]
I had two phone call back-to-back this week. Both potential buyers said that they only wanted to look at short sales and foreclosures Scottsdale. While I tried to explain the realities of the current Scottsdale real estate market, I don’t think that buyers understand just how few houses are for sale, and how many buyers [...]
From the Cromford Report: March 8 – As home prices rise at an accelerating rate, we today hit $125,000 for the monthly median sales price (all areas and types) for the first time since August 12, 2010. The lowest monthly median recorded was $107,000. This was measured on February 24, 2011 and again on August [...]
It’s very much a seller’s market in the more affordable price ranges in Phoenix. Homes are flying off the shelf, and it’s difficult for home buyers with financing to compete with those paying cash.
2011 was definitely a turning point for the local real estate market. Home prices are now on the upturn in greater Phoenix area, known as the Phoenix-Scottsdale-Mesa MSA (Metropolitan Statistical Area). Last year locally, the median real estate price for existing single family homes dropped 10.2% from 4th quarter 2010 to 4th quarter 2011, making [...]
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 [...]
