Home prices soaring in Scottsdale

(Disclosure: Rose Law Group represents Lourimore Land & Development.)

By Wayne Schutsky | Scottsdale Progress (Submitted Photo)

With skyrocketing housing prices and a dwindling supply, Scottsdale is a microcosm of the Phoenix Metro region as a whole, where buyers are finding it increasingly difficult to purchase a home without breaking the bank.

Valleywide the annual median sales price of a home jumped 25 percent from $264,990 in April 2019 to $330,000 today, according to the Cromford Report, a web service that studies the Valley housing market.

The growth in Scottsdale has been even higher during that span, with annual median sale prices citywide rising 27 percent and some ZIP codes seeing prices rise 30 to 40 percent compared to two years ago.

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