85250, Scottsdale, AZ

Scottsdale, AZ is a popular tourist destination in the Phoenix metropolitan area. Home prices in the 85250 zip code have increased significantly over the past few years, as has home equity. In this essay, we will explore these topics in more detail.

Home Prices and Equity

The median home price in Scottsdale was $499,000 as of September 2017. This represents an increase of 116% from the median home price of $269,000 recorded in September 2013. The average home value in Scottsdale has also increased significantly during this time period, rising from $285,500 to $499,000 (an increase of 137%). These increases are likely due to strong demand for housing in Scottsdale and surrounding areas.

As of September 2017, there were 1,814 homes available for sale within the 85250 zip code. This represents an inventory vacancy rate of 2%. This high inventory vacancy rate indicates that there is strong demand for housing within the 85250 zip code. Additionally, there were 1,527 active listings as of September 2017—an indication that there is still strong demand for housing within this area. Combined these data suggest that homes within the 85250 zip code are selling quickly and at high prices.

Home equity is another important factor to consider when evaluating home prices and equity in Scottsdale. As of September 2017, homeowners with a mortgage had a median home equity value of $256,700—an increase of 121% from the median home equity value recorded in September 2013 ($127,500). This indicates that homeowners have seen significant gains over the past few years due to increasing house values and increasing levels of mortgage debt relative to household income. It should be noted that not all homeowners with mortgages have seen significant gains; however overall levels of homeowner wealth are very high compared to historical averages throughout Arizona and nationwide."