Scottsdale, Arizona Information
As of February 2016 the average home value in the city was $410,900, with a median sale price of $379,650. This represents a 4.6% increase from the previous year, and market experts predict that the city will continue to see home prices rise at a small but steady level in the near future. Prices have been on a significant and steady increase overall since hitting a low in 2011. The overall health of the market is considered to be stable, with only 0.1% homes with negative equity and 0% of homes delinquent on their mortgages.
Scottsdale, Arizona Details
First settled as an agricultural center in the late 1800s, Scottsdale has gradually morphed over time into a major tourist destination of the Western states. The city is currently home to over 70 hotels and resorts and is tied with Atlanta for having the fourth-highest number of AAA Five-Diamond hotels. Though the economy is largely based on the city’s reputation as a white-collar getaway spot and a haven for winter snowbirds from colder northern states, locals love the area for the temperate year-round climate and the beauty of nearby national parks such as the Sonoran Desert, Tonto National Forest and Agua Fria National Monument.
The city is at a central location in Arizona, with most of the state’s major cities within a drive of no more than an hour or two. Phoenix and Glendale are just a short trip to the west, and just to the south are Tempe, Mesa, Gilbert and Chandler. This cluster of major cities sits in the center-south of the state, intersected by interstates 10 and 17. Tucson, Flagstaff, southern California, Las Vegas and the Sonora area of Mexico are all also within a 24-hour drive of the city.
The motto of the city, “”The West’s Most Western Town,” was adopted in the early 1950s. Over time the city has really embraced this spirit, developing as a getaway and entertainment center that celebrates nightlife in an area where it can otherwise be somewhat hard to find. Young and hip urban professionals tend to flock to the city for the array of clubs, bars, restaurants, culture and high-end shopping that it boasts. Scottsdale is also heaven for those who enjoy a spa trip, as it is considered one of the premier destinations in the United States for high-end treatments.
Of course, the city isn’t just a getaway destination. Tourism does account for almost 40% of the city’s total economy, but it is also a major medical center. One of the country’s three Mayo Clinics is located here, and the city’s largest single employer is the Honor Health system. A number of major companies are also headquartered in the city, among them Dial, Discount Tire, Fender, Go Daddy, P.F. Chang’s China Bistro and Taser. Phoenix is also a short enough drive away that many people commute there for work, opening up a new world of job possibilities.
For those who enjoy a good show, the city is also home to many annual events, many of which are centered around the city’s Western and Arizona state heritage. Some examples that draw visitors in the tens of thousands each year include the Arabian Horse Show, the PRCA Rodeo, the Barrett-Jackson Auto Show, the Scottsdale Culinary Festival and Fashion Week.
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