Living in Scottsdale Arizona has a lot of perks – 300 days of sunshine, some of the world’s best golf, and a booming economy. The best part, however, might just be Scottsdale’s luxury real estate market. As the most affluent suburb of the Phoenix Metropolitan area, this city has some of the best homes in Arizona.
By the Numbers
According to Sperling’s Best Places, Scottsdale has an incredible real estate landscape compared to the rest of the country. Scottsdale’s homes are 13 years newer and valued at more than twice the national average. In much of the country, lower income housing dominates the market, with fewer and fewer homes in higher and higher value brackets. In Scottsdale, however, the bulk of housing is in the $200,000 to $750,000 range. More expensive housing, or Arizona luxury real estate, sits between nine and ten percent of the Scottsdale market, compared to just over two percent nationally.
What does that mean for you? The Scottsdale market caters to luxury real estate buyers. With more households at higher income brackets than the rest of the country, that makes a lot of sense.
Cost of Living
While offering incredibly fine homes, many cost of living expenses in Scottsdale are either comparable or only minimally more expensive than the rest of the country. Areas such as groceries and transportation are minimally more expensive and healthcare and utilities are cheaper than in most places. The largest cost of living expense over the national average is housing, which actually makes Scottsdale real estate a great investment.
The Scottsdale Economy
With an average income per capita of $50,525, compared to $28,051 nationally, it’s no wonder Scottsdale Arizona is so highly coveted. More wealthy people live in Scottsdale than most places in the US; Scottsdale doubles or triples the national average of household incomes greater than 150k and there are more artists, business executives, doctors, lawyers, and salespeople than the national average. Home to a number of fortune 500 companies, corporate headquarters for over 20% of Arizona companies, and a tourism industry that generates an economic impact of $3.7 billion annually, Scottsdale offers a strong, diversified economy.
It appears that high housing costs aren’t driven by homes simply being more expensive, but by the incomes of Scottsdale residents. Higher incomes mean more residents can and do splurge for their dream home when purchasing luxury real estate. Scottsdale homes have steadily smashed national averages when it comes to value appreciation. With property and income taxes below the national averages as well, and rental values above than the national average, Scottsdale luxury real estate offers a great investment opportunity.
It All Adds Up
Not only is Scottsdale a beautiful place to buy a home and live, it’s a luxury market that offers a great investment opportunity. If you’re in the market, you should consider Shadow Peak, a stunning Tuscan-style home in Scottsdale’s highly coveted Artesano at Troon Village. Located on Troon Mountain, the estate features breathtaking views of Pinnacle Peak, the Sonoran Desert and city lights; complimented by an award-winning pearlized ceramic tile pool, balconies, boulder formations, and beautiful landscaping. The heavenly master suite, convenient chefs kitchen, 1,200 bottle wine cellar, and home theater are just a few of the amenities that await buyers. Available in a luxury no reserve absolute auction on November 3rd, 2016, you could possibly name your own price for this exquisite piece of Arizona luxury real estate. To find out how, contact us or Supreme Auctions directly at (866) 929-2243 today.