A combination of being one of the most attractive places in the valley (high demand), very large plots of land per house and practically none. The rise in luxury home prices is simply due to supply and demand. Arizona is a state contested by presidential elections, and a severe shortage of affordable housing is sowing economic anxiety among voters. Learn about natural hazards and environmental hazards, such as floods, fires, wind and heat, that could affect Scottsdale homes.
Something to keep in mind about the real estate market in Arizona is that, while Phoenix doesn't do very well in numbers, Scottsdale is not following the same trend.
