Excerpt from: Greater Phoenix trends and statistics
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| April 18, 2008 | | Scottsdale median home price trends. | The Scottsdale real estate market has declines similar to the rest of the valley, and just as the rest of the valley there are significant opportunities to buy and invest in real estate, a second home or a primary residence. South Scottsdale, specifically close to downtown or any development like the ASU research center will see a lot of development in the future. This will probably be on the next major redevelopment areas in the valley. It's worth considering. | | Mar'07 | Mar'08 | Change | | Greater Phoenix | $ 265,470 | $ 220,000 | -17.0% | | Scottsdale All | $ 635,000 | $ 525,000 | -17.0% | | South Scottsdale | $ 323,000 | $ 260,000 | -19.0% | | North Scottsdale | $ 713,500 | $ 605,000 | -15.0% | | Scottsdale Condos | $ 265,950 | $ 236,750 | -11.0% |
Scottsdale median home prices seem to be holding steady despite the declines. 
South Scottsdale real estate prices have had the most dramatic declines in Scottsdale. Prices may level off in the near future. 
The luxury home market has been affected as well by the lack of movement in the financial markets. Though homes above $3,000,000 may not have been affected, home that need a jumbo loan and almost anything up to around 3 million has seen less sales and lower prices. 
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