Scottsdale resale home price tag jumps 15%
Peter Corbett
The Arizona Republic
Dec. 13, 2006 12:00 AM
SCOTTSDALE - Scottsdale’s resale home market surged 15 percent from October to November to a median price of $630,000, according to a monthly report released Tuesday by the Arizona Real Estate Center.
Prices were up 6 percent from a year earlier.
The center, based at Arizona State University, said that the Valley market has settled into a stable pattern after the “hyper-activity of last year.” Sales are on pace with levels of 2003 when 66,260 resale homes changed hands in the metro area.
advertisement
However, sales and prices still are down from their record levels of the past year. Scottsdale has averaged about 408 home sales and 210 condominium sales each month for several months. Both are down about 40 percent from the same period a year ago.
November’s median price was the highest for Scottsdale since June when it peaked at $640,000.
North Scottsdale’s median price was up 12.6 percent from October to November. South Scottsdale’s prices were up 10 percent month-over-month.
The Valley’s median price is $259,000.
Paradise Valley’s median price of $1.69 million, highest in the metro area, is down 2.7 percent from October.
Resale home price tag jumps 15%
Median home price in Scottsdale hits $630K
