The real estate market here in the North Scottsdale Area, supposedly isn’t quite as good as last year. We were in a home off of Pima Rd in a subdivision called Desert Springs, and the Realtor, not knowing we are Canadian, commented on how slow this past winter season was, and how the Canadians have dried up. Her exact words! I asked if it had to do with our dollar being up 10%, along with the prices up 20%. She said that was definitely a factor, along with the U.S. mortgage rates going up 1% on a 30 year fixed, which has made it not as appealing for people to trade up either. The prices are noticeably higher here, and we have just put our house on the market in hopes of buying something larger. We have our eye on one! It was a house we looked at two years ago when we purchased our current home in Terravita Golf and Country Club. At that time it was a little out of our budget, so we passed on the opportunity. The owners leased it out for the past two years, and have now decided to put it back on the market. The interesting thing, is that they have put it on the market $80,000. less than two years ago. I follow the market pretty closely and I think it is priced low, but we will see how long it lasts on the market. If we can sell ours, we will definitely put an offer on this particular gem! So here are the stats:
Here are the stats for the Scottsdale area, up until the end of March 2014! Scottsdale consists of: Scottsdale, North Scottsdale, Pinnacle Peak, and South Scottsdale.
The prices are up 0.5% Year over Year!
Have a great day, and please forward any questions regarding the Phoenix area market, and I will do my best to answer!