Hello and welcome to another update of the current market conditions in the Scottsdale, Arizona real estate market. Currently there are 2,767 active listings. The prices start at $89,900, for a 3 bed, 1 bath, 1 car garage home with 1,300 SqFt. There are three homes priced at under $100,000. There are 60 homes that are priced at $200,000 or under. If you are wondering what you get for $200,000, in Scottsdale these days, wonder no more. This home at 200k is built in 1977, has 3 bedrooms, 2 bathrooms, 1 car carport, and has 2,587 SqFt. with a pool. The home is in good condition, needs updating but is livable, not a bank owned or short sale property, and sold in 2005 for $325,800.

There are many homes to choose from in the 200-300k range,196 homes to be exact. If you want a higher priced home in the 300-400K price range, there are 270 of those to choose from. The remainder of the homes available in a given price range are as follows:
*279 homes between 400-500K*
*259 homes between 500-600K*
*228 homes between 600-700K*
*182 homes between 700-800K*
*165 homes between 800-900K*
*163 homes between 900-1.0M*
So as you can see there are many homes in Scottsdale, Arizona that are under 1.0M. There are 1,802 homes that are 1 Million Dollars or less, to be exact. There are many fantastic deals to be made if you have always wanted to live in Scottsdale and thought you could not swing the high prices. If you are wanting a home above the 1 Million Dollar price tag, there are many homes for you to choose from as well, 966 to be exact on the number. You can see by the numbers that there are almost twice the number of homes for sale under 1 Million as there are over the Million Dollar price.

When you look in the range of 1 Million or more, there are 594 homes for sale in the 1-2 Million Dollar range, 229 homes between 2-3 Million, 69 between 3-4 Million, 25 between 4-5 Million, and there are 49 homes 5 Million or more. The top price for a home in Scottsdale goes to a home that features, 14,231 SqFt. main home, 2,198 SqFt. guest house, and sits on a 1.36 acre lot (according to tax records). The price tag for the home is $15,000,000.

There are currently 493 home Pending sale, and there were 390 homes sold in the last 30 days. The number of sold properties only changed by a number of 6 from the previous 30 day period. There were 396 homes sold between 06/20/2009 – 07/20/2009. There have been 2,280 homes sold in Scottsdale so far this year. There were 3,018 homes sold in Scottsdale in 2008. When you compare the last 30 day period, 07/20/2009-08/20/2009 to last year at the same 30 day period, the numbers are much better this year. Last year for the same period there were 293 homes sold as compared to this year at 390.

I feel with the numbers I have shown you here, combined with the amount of inventory on hand, that the prices are on the rise and will continue to do so. I am not saying that there is a boom going on here. I am saying that I feel we have hit the bottom, of the market and home values will be on a slow increase for now. If you are in the market for a home, I would make that purchase right now. If you wait, thinking that you can get a better deal tomorrow, you may just be surprised. Let me know how I can help you get the property of your dreams. I have been in the valley since 1976, and I am one of the best in the business of real estate. Make it a Fantastic Day, and an even better tomorrow.
James M. Swartz