Maricopa County Real Estate Market Update

The Arizona Regional MLS has released updated statistics on the monthly median sales price of homes in Maricopa County. Desert Mountain is located in Maricopa County so I thought that you would be interested to see how the general real estate market is doing. Home prices in Maricopa County hit bottom 8 months ago and the market has stabilized. There has been a lateral trend of stabilized prices or slight price increases over the past 8 months.  We have clearly seen the worst of the real estate crash and the market is ready to rebound. I suspect that home prices will continue to steadily increase, especially in the North Scottsdale communities like Desert Mountain.

Many communities in Maricopa County saw price drops of 50% or more over the past few years so it is good to see that it is coming back. Between November 2007 and March 2009 we saw a very large drop in the median sales price of homes. At the end of 2007 the median price of a home in Maricopa County was $265,000 but by the end of the first quarter of 2009 the median home price had dropped significantly to $125,000. This is a drop of 53% on average for homes in Maricopa County. Many homes in Desert Mountain are half price to what they were a few years ago.

If you are interested in viewing homes for sale in Desert Mountain, Scottsdale, please call me. I can show you any homes for sale in Scottsdale.