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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Real Estate
Scottsdale has a serious shortage of homes for sale right now. And cash buyers are out in droves. In 2011, 47% of the more 100,000 home purchases in Phoenix were cash transactions. I can talk through the past couple of days with you, just to illustrate the real situations that buyers are encountering. Buyer made [...]
I woke to an interesting post on Facebook this morning, and when I shared it with my friends, a couple fellow real estate agents added their experiences on how quickly their listings are selling. Location, condition, and setting the right price are key, of course! While sellers don’t want to “give their house away”, once [...]
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 [...]
Yes, Arizona real estate is on the upswing. Take a look at this chart from Mike Orr at the Cromford Report. In February 2010, Arizona was one of the top-ranked (not a good thing) states in distressed properties: Non-current home loans –# 3 (after FL, NV) Late but not in foreclosure –# 6 (FL, NV, [...]
