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 [...]
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Scottsdale
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 [...]
Yes, I think the Scottsdale real estate market is insane. And not just Scottsdale, it’s Phoenix, Chandler, Mesa, Gilbert, and all the rest of the Valley of the Sun. I’ve been working like a maniac for the month of March, and have seen so much craziness. I feel for buyers who are totally challenged to [...]
The number of homes for sale in Scottsdale has remained much more stable than other parts of the valley. Due in part the the typical sales price of a Scottsdale single home, which is higher than all other cities in Phoenix Metro. What I think is most interesting to note in this chart is that [...]
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 [...]
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 [...]
