Scottsdale Real Estate

Scottsdale has been one of the area’s most rapidly growing cities. Located on the eastern side of Phoenix, Scottsdale also continues to be one of the most popular tourist destinations in the country, with its reputation for Western nostalgia, and an abundance of golf resorts and spas.

With less available land for new development, the focus of construction in Scottsdale will shift to infill and renovation, with an emphasis on single-family homes.

Scottsdale real estate choices run the gamut from urban luxury and suburban-style communities to upscale gated communities in the foothills and western rural. The architecture for the most part reflects the Native American and Spanish influence on the area’s development. Stucco and adobe are the building materials of choice.

The market time is a little longer in Scottsdale than other parts of the Valley, averaging 120 days; homes are selling at about 98% of the asking price.

The older, more established Scottsdale neighborhoods are found in and around the city’s Old Town entertainment and art district.
North Scottsdale features some of the most expensive houses in the area. The average resale price for a home in that part of town is over $500,000, with prices going up to over $3 million.

The older South section of town tends to be more affordable with Scottsdale real estate available for between $120,000 and $220,000. Most of the homes in south Scottsdale are smaller, single-family houses and apartments built between 1950 and the early 1970s. Because of the proximity of this part of town to new Tempe Town Lake, south Scottsdale is expected to become an increasingly desirable area.

The city of Scottsdale has launched substantial renovation and revitalization programs for the downtown and the city’s south side. Third Avenue Lofts, the city’s first loft residences, mark the start of efforts to create and grow a solid downtown residential base. The Third Avenue development is a five-story, 88 unit building with loft residences that range from just over 600 square feet to 2,286 square feet. Units have a decidedly industrial feel with concrete ceilings, exposed ventilation and plumbing, and ceiling heights of 11 to 18 feet. The building has a pool, spa, fitness center and outdoor fireplace.

In South Scottsdale, plans call for neighborhood repair and renovation as well as construction of new housing options such as townhomes and casitas.

Central Scottsdale boasts a more diverse economic demographic. Housing here includes more expensive custom homes, as well as patio homes, townhouses, condos and apartments. The median price in this area is just shy of $170,000. Central Scottsdale offers residents golf courses, hiking trails and bike paths, outdoor recreational areas and man-made lakes. The McCormick Ranch community is located in Central Scottsdale.

The multi-dimensional Scottsdale Ranch community is another of Scottsdale’s established master planned communities featuring a variety of neighborhoods and housing choices. There are more than 40 distinct neighborhoods within Scottsdale Ranch offering waterfront condos along a manmade lake, single-family homes in gated communities or patio homes.

The fastest growing part of Scottsdale has been the North side. The new development spreading out from the city toward the McDowell Mountains tends to be the most expensive, with prices starting over $300,000 and going way beyond that for some of the most luxurious and exclusive areas. Golf figures prominently in many of these communities, like DC Ranch, a community of luxury homes with a private course, or the well-known Troon and Troon North developments.