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The Real Estate Market in Scottsdale, Arizona

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                The Real Estate Market in Scottsdale, Arizona

Scottsdale is hot, hot, and hot. Well, at least the temperature is. The real estate market in
Scottsdale has been very cool for some time notwithstanding national trends.

The Real Estate Market in Scottsdale, Arizona

Scottsdale is located just to the north and east of Phoenix. With the growth explosion in both
areas, it is becoming more difficult to tell them apart. Nonetheless, Scottsdale has a
population of just less than a quarter of a million people and his home to the famous
Phoenician Resort. With massive growth over the last 15 years, the city has a definite new feel
to it.

The average selling price of a home for sale in Scottsdale is just over $210,000. This figure is
about $30,000 over the national sales price for similar homes. Unfortunately, the market has
been suffering a down period with appreciation crawling along at a little over four percent.
Despite these numbers, real estate market appears primed for a rebound.

As with any part of the country, a prime indicator for real estate is the local economy. In
Scottsdale, the economy is picking up steam. Job growth is at a strong four percent with much
stronger growth projected through the foreseeable future. Practically speaking, this means
salaries and worker demand should increase. These people are going need places to live and
will have money in the bank. This surely represents a solid real estate market project for
Scottsdale.

With its close proximity to Phoenix, practical amenities are plentiful in Scottsdale. With the
exception of snow skiing, you can find practically anything you need within 20 minutes. From
an education standpoint, schools in Scottsdale are of high quality and consistently rank above
national averages. Health care costs are also on par with national averages, while violent
crime rates are about half of the national average.

As you might imagine, it gets dry and hot in Scottsdale. Recently, the area went four months
without any rain in the middle of winter. Historically, it has received about nine inches per year.
Average temperatures in the summer are a robust 103 degrees on average, but winter days
can cool down into the forties.

While the weather is mostly blazing hot in Scottsdale, the real estate market seems to have
missed out on the recent real estate craze. Perhaps it is just a little late in getting to the party.




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