Scottsdale residential real estate prices have definitely bottomed out. Here are the high, low and current median prices for two selected zip codes in Scottsdale.
85259 Median sales price:
8/2006-$825,000; 12/2010-$490,000; 1/2013-$540,000
85260 Median Sales price:
10/2006-$550,000; 12/2010-$350,000; 1/2013-$375,000
These zip codes include Scottsdale Ranch, Stonegate, Scottsdale Mountain, Ancala, Carino Canyon, Rio Montana, Pueblo Bonito, Montana Ranch, Saddlerock.
Inventory is still low, but once homeowners realize they have more equity in their homes, they will start thinking about selling.