Right now, the luxury real estate market in Scottsdale is better for buyers than most people expected. Even though interest rates are still high, home prices have stayed steady. And with some good news in the economy, it’s creating a real opportunity for buyers. If you’ve been thinking about making a move, this could be the right time. And having a Russ Lyon Sotheby’s Realtor on your team can make it even better.
Let’s start with the economy. Across the country, wages have gone up by 4.3%. Inflation, which is how much the cost of things goes up, is at 2.4%. That’s pretty balanced. But in Phoenix, the numbers are even better. Wages there have gone up by 9.3% from last year, and local inflation is only 0.3%. That means people in the area have more money left over, which makes it easier to afford a home.
When it comes to home prices, things are looking pretty steady. In Scottsdale, prices are only about 1% higher than last year. Some homes under $500,000 have even dropped in price by 2.2%. While the luxury market usually doesn’t see big price changes, homes under $1 million are showing better value right now. That’s great news if you’re shopping in that range. A Russ Lyon Sotheby’s Realtor can help you find homes that aren’t listed everywhere — homes that match what you really want.
Another reason to consider buying now: more people are coming back into the market. As wages go up and prices stay level, more buyers are getting serious. That means if you wait too long, you could face more competition. But when you work with a Russ Lyon Sotheby’s Realtor, you’ll be ahead of the game. You’ll see homes early, get expert advice, and have someone helping you every step of the way.
In short, Scottsdale is still one of the top places to live in Arizona. The economy is strong, the market is buyer-friendly, and now is a great time to explore your options. If you’re even thinking about buying, talk to a Russ Lyon Sotheby’s Realtor. They’ll help you make a smart, confident choice and find a home you’ll love.