Scottsdale Market Trends
Maricopa County Market Trends
This is the current data for home prices, inventory and market activity for the greater Phoenix area, including Scottsdale. The Scottsdale real estate market has been on an upturn since the end of 2011, when home prices were astonishingly low. The median sales price for homes in Maricopa County is up 8.5 percent from last year, and the average sales price is up 8.0 percent.
For more information on current market trends in Phoenix and Scottsdale contact Carmen Brodeur at Carmen@TopScottsdaleHomes.com, or check out recent articles below.
Articles on the Scottsdale and Phoenix Real Estate Market
Arizona housing market prices are rising, but still not recovered from recession
By Kara Carlson – Editorial Intern, Phoenix Business Journal Mar 1, 2018
As the nation’s housing market prices recover to pre-recession levels, homes in the Arizona market are still on average worth 16 percent lower than they were almost 12 years ago.
Those findings come from a report by CoreLogic looking at state by state and national market recovery.
Pending Home Sales Tick Up 0.5 Percent in December
Adam DeSanctis, National Association of Realtors, January 31, 2018
Pending home sales were up slightly in December for the third consecutive month, according to the National Association of Realtors®. In 2018, existing-home sales and price growth are forecast to moderate, primarily because of the new tax law’s expected impact in high-cost housing markets.
The Pending Home Sales Index,* www.nar.realtor/pending-home-sales, a forward-looking indicator based on contract signings, moved higher 0.5 percent to 110.1 in December from an upwardly revised 109.6 in November. With last month’s modest increase, the index is now 0.5 percent above a year ago.
Mortgage applications jump 4.5% as buyers rush to beat higher rates
Diana Olick, CNBC, Jan. 24, 2018
Spring has sprung early in this housing market. Buyers, seeing a new trend toward higher interest rates, are rushing in before the first buds appear.
Mortgage applications rose 4.5% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted report. Application volume was 6.1% higher than the same week one year ago.
2017’s strong housing market in metro Phoenix gives 2018 a lot to live up to
Catherine Reagor, The Republic | azcentral.com, Jan. 07, 2018
2017 will go down as one of metro Phoenix’s best-ever years for home sales
An early tally shows 93,500 Valley houses changed hands last year. That’s 6 percent higher than home sales in 2016.