Scottsdale Real Estate Statistics, Trends, and Forecast 2011 | Arizona Real Estate
Scottsdale, Arizona is consistently voted one of the best cities to live in the USA. Scottsdale is rich with golf courses, restaurants, art galleries, parks, colleges, and outdoor activities that promote a healthy lifestyle. The World Series Champion San Francisco Giants spring training stadium is a popular attraction. The city also has very low crime rates which appeals to everyone. There are also cutting edge hospitals and medical research facilities in the area. The city has a unique blend of contemporary and southwestern style architecture that blends nicely with the gorgeous desert landscape. The sunsets can be absolutely breathtaking most evenings.
North Scottsdale has some popular subdivisions including Ancala, Silverleaf, Estancia, Desert Mountain, Mirabel, Troon North, Desert Highlands, and The Boulders to name a few. Paradise Valley is also a beautiful district in the heart of Scottsdale. The average sales price for houses sold in North Scottsdale in 2010 was around $550,000. This area of the Valley carries a bit of mystique and allure that appeals to CEOs, Pro athletes, and some of the Valley’s most successful business owners. However, compare these home prices to California, New York, Florida, or Illinois and you will see that your income gets stretched a lot further here while still preserving a great lifestyle. Many folks move from these states to Arizona because of the affordability, great weather, and fantastic lifestyle that it offers.
TODAYS REAL ESTATE TRENDS IN SCOTTSDALE
As of February 2, 2011 the average listing price of homes for sale is around $730k. The actual median sales price is $278,000. The average price per square foot of these homes for sale is $149 and there are over 4,500 properties listed for sale. Over the last five years homes have dropped in price nearly 35% in Scottsdale. However, this trend is starting to change. From November 2010 to January 2011 sales prices have grown by about 1.7%. This is a refreshing sign for property owners in this area.
SCOTTSDALE REAL ESTATE FORECAST
With the recent slight increase of real estate sales prices it may be an indication that we’ve hit the bottom. Nobody can say for sure if sales prices will continue to increase or if there will be more dips. All we can do is track the numbers and make any educated assumptions. One thing is certain, Scottsdale will continue to be an amazing place to live regardless of what happens to the home prices.
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