Scottsdale condo prices are rising. According to the Arizona State University W.P. Carey School of Business, the most recent data indicates that Scottsdale condos have increased in value by 13.6% during the past year (through June 2012). The median price for condominiums sold was $142,000 with 281 sales during the past twelve months.
Currently there are fewer foreclosures, less bank owned condos and more buyers in the marketplace. This is creating increasing pressure on prices. It is my experience that the cheap deals are getting very difficult to find. The real estate market appears to returning to a more balanced situation.
This may be great news for condo owners in Scottsdale. Those who bought during the last few years are glad they did. Those who bought before the housing bubble burst may now be able to sell for more than what they owe, and in some cases for more than they paid.
If you have a condo that you are considering selling please contact me for some ideas on how to maximize the value. If you are looking to buy a Scottsdale condominium, there are still some rare deals out there and I would be pleased to help you find them. At the current rate of price appreciation it may be a good idea to act sooner than later.
