Scottsdale home prices have dropped 20.2% in price per square foot for the year to year March 13 measurements.
March 2009 $233.88
March 2010 $186.55
The trend is down. Crystal ball for the future? No. Paradise Valley, Carefree and Scottsdale the top three in price/sf in the valley are all down a similar percentage.
After all it is not just real estate it is the economy, jobs, taxes, healthcare, war, monetary policy. The experts do not agree on these so I will not attempt to offer my opinion.
The facts. Home prices are down. The old adage is buy low, sell high. Investors are coming back into the Phoenix metro market buying homes for cash now. Does that mean we are at or near the bottom? I do not know.
If I can answer any other questions, feel free to ask. Maybe I can do a better job on the next one.
Jeff Masich, Realtor
Arizona Homes and Land
HomeSmart Real Estate