Scottsdale's high cost of living is due to several factors, including a thriving economy, a desirable lifestyle, and limited housing availability. The city attracts wealthy residents seeking a luxurious lifestyle, which, in turn, increases demand and prices for real estate, goods and services. The Scottsdale housing market has gained national attention for rising home prices, luxury developments and strong demand. Whether you're looking for multi-million dollar properties in North Scottsdale or more modest properties in Old Town Scottsdale and South Scottsdale, one thing is clear: buying property here is a serious investment.
But why is real estate in Scottsdale so expensive? The combination of location, demand, limited land and a luxurious lifestyle contribute to high prices. The expensive label often comes from comparing Phoenix to what it was in the past, not necessarily to other major metropolitan areas. The truth is that Phoenix offers a desirable lifestyle and a thriving labor market, which naturally attracts people and influences prices. The San Francisco Giants, Colorado Rockies and Arizona Diamondbacks train in the city of Scottsdale during the spring training season.
Whether you're looking for a luxury property in North Scottsdale or a modern condo near Kierland, expect to pay more for the Scottsdale experience. Residents of the City of Scottsdale can also get around easily with the help of the Scottsdale streetcar system. Something to keep in mind about the real estate market in Arizona is that, although Phoenix is not doing very well in numbers, Scottsdale is not following the same trend.
