Scottsdale, AZ single family home resale numbers for December 2007 and a 2007 year in review for Scottsdale real estate. | | Dec. '06 | Dec. '07 | Change | | Greater Phoenix | $ 255,900 | $ 232,000 | -9.3% | | Scottsdale All | $ 567,500 | $ 523,350 | -7.8% | | South Scottsdale | $ 350,000 | $ 279,000 | -20.0% | | North Scottsdale | $ 657,000 | $ 620,000 | -5.6% | | Scottsdale Condos | $ 264,005 | $ 254,835 | -3.5% |
Data from ASU Poly. Graphed by Artur Ciesielski, CCIM Scottsdale fared better then the other parts of the Phoenix valley. Scottsdale's attractiveness as a great place to live, a vacation destination, lack of land and good city management has helped keep demand up. South Scottsdale took the biggest hit with a 20% decline. I'm sure the area surrounding downtown Scottsdale and the Scottsdale/Thomas intersections did better, but the numbers were pulled down by other parts in South Scottsdale that have less demand. 
In 2007, a total of 4,120 single family homes sold. This is 20% less then the 5,150 that sold in 2006. The median home price for the year is $579,000 and is not a big decline from $595,000 in 2006. A total of 2,595 condos and townhomes sold in Scottsdale in 2007, compared to 2,900 in 2006. The median price for the year decreased from $264,005 to $254,835. Not a big decline either. Please not how many condos/townhomes sold compared to single family homes. Scottsdale is a big market for this type of real estate because it's attractive as a second home market, which drives demand for condos and town homes in Scottsdale. Find a condo/town-home in Scottsdale. |
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