Scottsdale’s housing market is rebounding

By Peter Corbett

The Arizona Republic

Scottsdale’s housing market is showing healthy gains this year with the median price of $377,750 up 6.1percent over 2011.

Some areas are seeing double-digit price increases led by the 85250 ZIP code between Chaparral and Indian Bend roads, where the median price of $254,000 is up nearly 24percent. That is based on 2012 prices through September compared with last year.

“We seem to have found our footing a little bit,” said D.Patrick Lewis, Scottsdale Area Association of Realtors chairman-elect for 2013.

Median prices are also up this year 9percent in Cave Creek to $335,000, 2percent in Paradise Valley to $1.08million and 0.3percent in Fountain Hills to $319,000.

Prices fell 9 percent in Rio Verde to $300,000 and dropped 15percent in Carefree to $501,000.


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