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 [...]
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scottsdale real estate market
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, [...]
The monthly median home sales price in Scottsdale has stabilized over the past seven months, staying well within the range of $350,000-380,000. Looking at Scottsdale’s home prices over the past decade, you can see that this puts today’s home prices in the same price range as 2003. From my perspective, this stabilizing trend is one [...]
Altos Research has a proprietary market action index they use to track the real estate market. Looking at Scottsdale’s action over the past year, it shows that real estate is on an upward trend. Sales are up. Inventory (number of homes for sale) is down. Prices are still dropping. All of these aspects of the [...]
