The first set of data is based on single family residences only. The average single family home is larger than those in most Phoenix area cities at approximately 2750 square feet. Scottsdale's average home price is second only to Paradise Valley in the Phoenix metro area. The average purchase price of a single family detached home in Scottsdale in May was $666,000, or about $246 per square foot, a small increase from the previous month, and a 20% decrease from the all-time high set in January 07. Months of supply is now 12.4, meaning that it would take more than 12 months to sell all the current inventory at the current rate of sale, if no new listings were added. Inventory remains high, so it is considered a buyer's market because there are so many homes to choose from and average time on the market is about 165 days. For condos and townhouses, the average price in June was $328,800, or $250 per square foot. (higher than the price per square foot for single family homes for the first time ever) It had been difficult to discern a trend in price per square foot, because pricing has been very erratic, but it now appears that single family home prices are definitely decreasing and condo prices are on an up-trend. I will be happy to send you copies of my charts if you request them. Would you like to know what the home down the street sold for? For a free, no-obligation report, send me an email or give me a call and I'll send out a list of comparable properties in your area and what they sold for. Would you like to receive a list of all the houses for sale that meet your exact criteria? My free, no-obligation, home hunter service will let you know the day a new listing hits the market, so you'll never miss out on the perfect house.
Location Characteristics: Scottsdale is known for world class resorts, golf, dining, art galleries, and shopping. As a neighbor to Phoenix, the climate is warm in winter, and hot but dry in the summer.
About Susan Kessler:
I care about you and your needs. The information I provide is factual, not hyped. Real estate can be a great investment, but it was never meant to be a short-term proposition. Buy and hold is the way to go, so never buy something you would be sorry to be stuck with.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
