Scottsdale

Scottsdale Real Estate Information and Statistics

Scottsdale  is loosely divided into four areas: South Scottsdale (McKellips Road north to Thomas Road, Old Town or Downtown Scottsdale, Central Scottsdale also known as the “Shea Corridor”, extending from Camelback Road north to Shea Boulevard, and North Scottsdale. The real estate market in Scottsdale is among the most expensive in the United States. In 2005, Scottsdale was among the top ten markets in the nation for luxury home sales, and one of two cities outside of California. Scottsdale was ranked tenth with $594 million in luxury home sales.

Old Town Scottsdale
South Scottsdale has for many years been the working class region of Scottsdale, although today it is gentrifying. It contains the major nightlife for the area and is a major art center of metro Phoenix. The median resale home price is $291,500, compared to $667,450 in North Scottsdale. A portion of McDowell Road in South Scottsdale used to be known as “Motor Mile”, having at one time 31 dealerships represented along the street. The strip, at one time, generated over $10 million in sale tax revenue each year and was one of the most profitable auto-miles in the United States. In recent years, many of these dealerships have left the city, including 6 in 2008 alone. South Scottsdale is the home to a new research center for Arizona State University, known as SkySong, a collaboration between the university, local business, and global companies. The development has attracted the research and development arms of a number of international corporations.
Old Town Scottsdale is an area with many streets, old fashion stores, restaurants, bars, nightclubs, and western art galleries evoking the old cowboy era. Scottsdale’s main cultural district is also in this area, which includes the high-end Scottsdale Fashion Square Mall, one of the twenty largest malls in the United States. The district has currently seen a revival, with new condominiums and hotels under construction.

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