Trulia Scott…, Home Buyer in Scottsdale, AZ

Would you currently describe Scottsdale as a Seller's Market, Buyer's Market or Balanced Market?

Asked by Trulia Scottsdale, Scottsdale, AZ Wed Apr 3, 2013

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A Seller's Market. In almost every neighborhood an investor can buy a home that's 30 years out of date, rennovate and ask $300K ++ for a 50+ year old house that looks NEW on the inside. The key concept is a clean and modern house that is move-in ready.

Homes that are not clean or updated will sell at normal distressed prices.
0 votes Thank Flag Link Thu Apr 4, 2013
Scottsdale is definitely a Seller's market, especially for homes that are priced well, show well, and are located in desirable areas like McDowell Mountain Ranch and DC Ranch. Buyers can still feel good about paying current market value which is significantly below the prices paid at the height of the market. Prices have been increasing and inventory is low, so buyers often need to come in at or over list price to win out over competing offers. With interest rates still close to historical lows, Buyers should lock in their long-term cost of ownership now.

Maureen Thelen
Designated Broker
Urban Premises, LLC
0 votes Thank Flag Link Thu Apr 4, 2013
In general it is a Seller's market in Scottsdale due to the lack of inventory, but it depends on location and price range. It is definitely a Seller's market in communities closer to the 101 Freeway, such as Grayhawk, DC Ranch, McDowell Mountain Ranch, Gainey Ranch, McCormick Ranch and Scottsdale Ranch. As you go north of Jomax Rd in N Scottsdale the market is more balanced. Also the market for homes priced above $1 million is more balanced and the market for homes priced above $2 million is still a Buyer's market. I just sold a 4,000 sf home in Grayhawk in 13 days; our asking price was $949,900. This is a very popular master planned community close to the 101 Freeway, Kierland and Scottsdale Quarter. Grayhawk also has an excellent elementary school and 2 nice golf courses.

I would be happy to assist you in buying a home in Scottsdale. Contact me if you would like to review a FREE list of Scottsdale homes for sale in the price range of your choice.

Rob Ryan
The Gallery Collection
Luxury Division of West USA Realty
0 votes Thank Flag Link Wed Apr 3, 2013
It is still a seller's market but it is starting to show a little more inventory. If you are a seller and list your home for the correct price, you should get a lot of activity and offers quickly. If you are a buyer, you need to be decisive and be willing to pay market price to get a home. But if you react quickly, you can still find nice homes for a decent price.
0 votes Thank Flag Link Wed Apr 3, 2013
Sellers market due to the very low inventory levels. Demand is still high - driving prices up. Market begins to soften an bit over $500K price point.
0 votes Thank Flag Link Wed Apr 3, 2013
Definitely a sellers market.

The last offer I wrote, the property was on the market for 3 days and had 4 offers.

My buyers had to come in $100.00 OVER asking price to get it, and the property was priced at $539,900.

I am seeing demand for homes priced between 500-600,000 increase dramatically since the first of the year.

Here is a YouTube video I did explaining why there is suddenly a demand for Arizona Real Estate.

Terry S. Smith
47 year Arizona Resident
(602) 763-1858
0 votes Thank Flag Link Wed Apr 3, 2013
Though homes thoroughout our Valley are on the rise, interest rates are still very low it is a sellers market but for Buyers now is the time to take advantage of the low interest rates. If you are coming Considering buying or selling please feel free to give me a call. Thank you for your question!
0 votes Thank Flag Link Wed Apr 3, 2013

Scottsdale home prices are still on the rise. Many home buyers who are investigating the market are shocked to see how strong the market is currently. With a continued shortage of inventory, lots of home buyers, and still great interest rates, competition is high and prices are going up as a result. In most cases we are receiving multiple offers within hours of each listing being placed on the MLS.

There are still some ares of Scottsdale that have not changed quite so much but it all depends on the area and Price point that you are looking for.

Feel free to contact us anytime.

Tara and Cody
and Exp Realty Team
0 votes Thank Flag Link Wed Apr 3, 2013
The answer depends. Price point specific bands will show absorption rate and months supply. Since there are still homes from low $200k up to the millions that answer is yes in the lower bands and balanced in others and buyers in highest point depending. Key is to buy when you are ready and consult your trusted Realtor to analyze this for you based on the specific buyer price point.
Laura Myers
AZ Real Estate Consultants
Keller Williams AZ Realty
0 votes Thank Flag Link Wed Apr 3, 2013
It's deffinetly a Sellers market, leaning towards a balanced market. We have more buyers than sellers. Homes that are priced well move quickly. I'd like the opportunity to discuss this further with you. Feel free to call me at 480-797-8461.

Many thanks,

Jonathan Budwig
0 votes Thank Flag Link Wed Apr 3, 2013
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