The Real Estate Market in Scottsdale, Arizona

Scottsdale is hot, hot, and hot. Well, at least the temperature is. The real estate market in Scottsdale has been very cool for some time notwithstanding national trends.

The Real Estate Market in Scottsdale, Arizona

Scottsdale is located just to the north and east of Phoenix. With the growth explosion in both areas, it is becoming more difficult to tell them apart. Nonetheless, Scottsdale has a population of just less than a quarter of a million people and his home to the famous Phoenician Resort. With massive growth over the last 15 years, the city has a definite new feel to it.

The average selling price of a home for sale in Scottsdale is just over $210,000. This figure is about $30,000 over the national sales price for similar homes. Unfortunately, the market has been suffering a down period with appreciation crawling along at a little over four percent. Despite these numbers, real estate market appears primed for a rebound.

As with any part of the country, a prime indicator for real estate is the local economy. In Scottsdale, the economy is picking up steam. Job growth is at a strong four percent with much stronger growth projected through...