PHOENIX REAL ESTATE VS SCOTTSDALE REAL ESTATE

In the year 2001, the average price of a home in Phoenix Real Estate was just slightly over $140,000. This is compared to Scottsdale Real Estate which was somewhere around $375,000 At the height of the housing bubble, in 2008, you can see that Phoenix went up to just over $300,000 where Scottsdale’s prices increased to $820,000 the same year. Then, the crash occurred where Phoenix’s average sales price actually went below the 2001 average price of $140,000.  Scottsdale was hit hard also but held its price a little bit better.  It slid down to an average of $480,000 — a great fall but still significantly higher than in 2001. Now, with a much healthier economy and stringent lending practices, in 2018, the prices have nearly gone up to their maximum levels — particularly in Scottsdale at around $720,000. Phoenix is back to its maximum value — hovering at an average sales price just around $300,000.

Leave a Reply

Your email address will not be published. Required fields are marked *