According to Zillow, the Scottsdale real estate market is hot right now. It’s experiencing a moment of high demand but low supply, making it a seller’s market. Scottsdale properties are so popular right now they’re attracting buyers from locations like California, Colorado, and Illinois. Keep on reading to find out the latest real estate news in Scottsdale, AZ!
Scottsdale, AZ Real Estate in 2021
Scottsdale, a popular suburb in Phoenix, Arizona, consists of 21 neighborhoods and 79 public schools rated good or higher by GreatSchools. It also has 22 private schools and charter schools in the area. Apart from it being good for kids, Scottsdale is also popular with young professionals and retirees. Because of the safe neighborhoods and high quality of life, it’s steadily increased in popularity since 2011.
In 2021, Scottsdale clocked in record-high appreciation rates, which was among the highest in the country. At nearly 15%, Scottsdale appreciation rate is higher than in 95% of the country’s other towns and cities.
Scottsdale’s annual appreciation rate equates to 23.53% annually and does not show any signs of slowing down.
Scottsdale, AZ Real Estate Trends for 2022
In the beginning of the year, a home in Scottsdale, AZ had a median listing price of $848,399. This was up 19.5% year-over-year. When broken down, that equates to roughly $390 per square foot. On average, a home in Scottsdale sold for $779,000. A home spends 31 days on average on the market before it is sold.
Because there are more interested buyers than there are sellers, sellers can command a higher asking price and can tack even more after that. It’s not uncommon for a home in Scottsdale to receive multiple offers. In fact, popular homes in Scottsdale can sell up to 3% more than the asking rate in as little as 11 days.
Data shows that this upward trend in Scottsdale’s real estate value will just keep on going, in 2022 making it profitable to sell a Scottsdale property. The long-term profit potential of selling a Scottsdale, AZ home in +2.24% in one year alone.
But there is a limit to how high property prices will rise. It is estimated that in 5 years (2027), a Scottsdale home will be sold for around $580,792, almost $300,000 less than it’s selling price now. So, if you want to sell your home for a good profit, you need to do so right away.
NEED TO LEARN MORE?
If you want to get in on the real estate boom in Scottsdale, AZ, then time is of the essence. You need to be able to get your home listed on the market as soon as possible so you get ahead of your competition.
Getting your home ready for sale can take time, however. You need to work on repairs and renovations on your home to make it as attractive as possible for buyers. If you want to sell your home quickly then you should look into selling to a professional cash home buyer in Scottsdale, AZ.
At United Home Offer, we buy house in Scottsdale, AZ in “as-is” condition, meaning you don’t have to spend any money on repairs or renovations. Plus, we can give you a fair offer and get you paid in as little as one week. Best of all, you are in no way obligated to accept our offer.
United Home Offer is able to buy any unwanted property in any situation. Our experts are able to help with any problem and we don’t require you to prepare the property first. When you work with us, you won’t have your house sitting in the market for a long time. We’re one of the few real estate investment firms that won’t let you down when it comes to selling your house quickly. If you’re struggling to sell your house in Scottsdale for whatever reason, get in contact with us today to see what we can do for you!
Call us right now at (214) 817-4224 for a no-obligation cash offer.