Should You Buy a Luxury Home in Scottsdale, AZ?
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Originally Posted On: https://ostermanrealestate.com/should-you-buy-luxury-home-scottsdale-az/
Money.com recently ranked Scottsdale, Arizona, ninth of the 50 best places in the United States to live.
Why? With its beautiful weather, abundant outdoor activities, great amenities, strong housing market, and more, what’s not to love?
If you are looking to buy a luxury home in Scottsdale, AZ, you may be wondering if it is a good place to invest your hard-earned money.
Read on to learn answers to some of the most popular questions about Scottsdale real estate so you can make an informed decision on your next home purchase.
What Makes Scottsdale, Arizona, a Great Place to Live?
As mentioned above, Scottsdale is at the top of the list for many potential home buyers. Here are some of the reasons why:
Strong Local Economy: Scottsdale has experienced 14% job growth over the past five years and is projected to grow similarly in the coming five years. The city is recognized as one of the top markets nationwide when it comes to job growth and business performance.
Taxes are relatively low in comparison to many other cities, which benefits both residents and businesses.
Excellent Schools: There are several high-performing public and private schools in and around Scottsdale, which is great for families with school-aged children.
Gorgeous Weather: Clear skies and sunshine are the norm in Scottsdale, which is ideal for those who love to be outdoors. Scottsdale’s hot season (end of May to Mid-September) has an average temperature of 97 °F while its cool season (late November to late February) averages 73 °F.
Ample Amenities: Whether it is dining options, shopping, nightlife, the arts, entertainment venues, pampering at a spa or five-star resort, first-class golfing, or outdoor parks and recreational opportunities, Scottsdale has it all.
Robust Housing Market: The housing market in Scottsdale has been strong, even throughout the COVID pandemic, and it doesn’t show signs of stopping in the near future.
Cost of Living: People are streaming in from across the country to make Scottsdale home due to its affordability compared to coastal areas. This means you will get more bang for your buck when it comes to housing options as well as other expenses for a higher quality of life.
Close Proximity: Whether you need to be near Phoenix or want to venture out further, Scottsdale is a great place to live.
With the Phoenix Sky Harbor International Airport and Scottsdale Municipal Airport close by, domestic and international travel are easily accessible.
You can hit the slopes with just a three-hour drive to Flagstaff, Arizona, or head to the Mexican border for some wine tasting, dining, or horseback riding.
Drive out to the California coast for a beach getaway in under a day, or explore the splendor of the Grand Canyon, just a four-hour drive north.
Is Scottsdale, AZ, a Good Investment?
Yes, whether you want to live in an amazing area and retain or increase your home value, are flipping real estate to turn a profit, or are looking to buy a property to rent out, real estate in Scottsdale, AZ, is a great investment!
Because of the current high demand and low supply due to the pandemic and other local factors, Scottsdale has seen an influx of out-of-state buyers migrating from California, Illinois, Colorado, and other states.
This, coupled with the supply and demand issues that homebuilders are facing, makes it a great time to snag an existing home in the area.
Are Home Prices Falling in Scottsdale?
No. In fact, the opposite is true. As of March 2022, home prices in Scottsdale were up 24.3% over last year, with a median sale price of $815,000.
Houses are currently on the market for an average of twenty-two days, down from thirty-three days at this time last year.
According to Redfin, the Scottsdale housing market is considered very competitive.
Homes are selling for 3% above list price on average. “Hot homes” are fetching 7% above list price and are pending in around seven days.
Where Are the Nicest Homes in Scottsdale?
Ask any local Scottsdale realtor, and they will tell you that the most magnificent homes in the Scottsdale area are found in North Scottsdale, which is located north of Shea Boulevard. Residents here value their privacy and enjoy stunning natural views.
This area is all about status symbols, including custom mansions, expansive horse properties, European SUVs, beautiful desert landscapes, and immaculate world-class golf courses.
In North Scottsdale, those in search of luxury living will want to check out the following opulent, guard-gated communities:
- Silverleaf in DC Ranch
- Granite Mountain Ranch
If you are an avid golfer, here are some gated golf communities you will want to add to your list:
- Desert Highlands
- Desert Mountain
- Troon North
- Whisper Rock
If you are looking for something more affordable, consider Central Scottsdale. Many of these homes are spacious and are located on larger lots than many other areas of Scottsdale.
Families love the area because of the great schools, low crime, and abundant amenities close by.
- McCormick Ranch
- Scottsdale Ranch
- Gainey Ranch
Other areas of Scottsdale you may want to investigate include South Scottsdale and Old Town Scottsdale.
To learn more about real estate in Scottsdale that might best fit your needs, we recommend reaching out to an experienced Scottsdale realtor.
Buying or Selling Luxury homes in Scottsdale, AZ
Scottsdale provides many wonderful and distinct housing options at various price points, depending on where in the city you want to live.
Because of the competitiveness of the current market, it can be tough to find the luxury Scottsdale home of which you’ve been dreaming.
You don’t have to go it alone. Thomas Osterman specializes in helping luxury home buyers find just what they are looking for. Contact him today and put his decades of experience to work for you!