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Scottsdale May home prices climb

Yesterday I presented some of the overall market headlines for the May market and promised some specifics. 

Scottsdale saw significant gains in May year over year in all metrics.  The most widely quoted figure is median pricing.  Single family homes saw a 19 percent increase in the number of sales for the month versus May of 2011.  More importantly, the median price jumped over 19% to $411,654.  The average price was up over 14% to $538,421 and the average price per foot was up over 13% to $194.22. 

Townhomes and condos followed the same path, although sales were basically the same year over year.  Median pricing was up 29% to $170K, average pricing up almost 25% to $238,480 and price per foot was up over 18% to $168.16.

The vast majority of locales in the Phoenix metro area saw significant increases with a small handful still showing some decline.  Those showing decline included areas that were the least hard hit by foreclosures over the past few years.

Adam Tarr PC
Citywide Real Estate
Phoenix, AZ

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