Scottsdale Not Immune From Foreclosures
Mar 14th, 2009 by Vinny
SCOTTSDALE – Scottsdale’s median home price in February dropped 23 percent compared to a year earlier as a surge in foreclosures hurt the market, according to the latest report from Arizona State University Realty Studies.
The median price of an existing home was $395,000, down from $513,300 in February 2008. Foreclosures accounted for 40 percent of 325 home sales. Scottsdale’s median condominium price of $175,000 dipped 30 percent. About 38 percent of the 170 condo sales were foreclosures. For traditional sales, prices were off 13 percent for homes and 25 percent for condos.
http://www.azcentral.com/arizonarepublic/local/articles/2009/03/13/20090313nebriefs0314.html
