Scottsdale Real Estate Market Update -
Scottsdale is 184.2 square miles and was so named in 1894 after Winfield Scott, an Army Chaplain. The city was incorporated in 1951 with 2,000 residents. Today the city's population is said to be just over 226,000 and is bounded by Fountain Hills to the east, Tempe to the south, Phoenix to the west and Carefree/Cave Creek at the northern border. The only place the city can possibly expand is to the northeast if parts of "Rio Verde" were incorporated into the city limits.
With the city being "land locked" it's easy to see why prices rise, but also that Scottsdale is a fun resort town and a retirement destination.
Scottsdale has a robust housing market. Median Sales Prices are listed below for this Scottsdale Real Estate Market Update. Due to the wide range of prices of homes sold in the last 30 days being $6.7 million to $135,000, it's wise to use Median Sales Prices to eliminate big swings in the market.
Median Sales Price, according to the Cromford Report where these figures are derived is, "based on the homes included in Annual Sales, and is the price point which separates the higher half of the sales price from the lower half. It is usually substantially lower than the Average Price - Annual Sales, since sales of large expensive homes have little impact on the median but a large impact on the average."
These are the Median Sales Prices for all 10 zip codes for this Scottsdale Real Estae Market Update:
Zip Code Median Sales Price
There have been 472 Sales in the last 30 days; 680 homes are Pending and Under Contract Accepting Back up Offers; and there are 2,167 active listings for single family homes in this Scottsdale Real Estate Market Update.
If you are looking to buy or sell a home in Scottsdale, give me a call!