Prices Soar As Fewer Scottsdale Homes Are Built

The Scottsdale Arizona Republic reports that with so few new single family homes in Scottsdale being built, any remaining new home developments, like DC Ranch, have seen their prices soar. "There's just not a lot of new to pick from in Scottsdale," said Realtor Mike Susic of Phoenician Properties in Scottsdale. "That has helped sustain the resale market because there is so little new competition."

Last year, Scottsdale issued 1,385 building permits for new homes, down from 3,100 single-family homes permitted in 1999, a decline of 56%. The article lists several of the remaining new home developments in Scottsdale, including Park Homes at DC Ranch by Ashton Woods Homes with prices from $585,990 to $749,990; Desert Haciendas at DC Ranch by Maracay Homes with prices from $893,000 to $1.08 million; and Engle Homes Estates at DC Ranch, with prices from $840,000. More...

If I could move anywhere in the valley, high up on a hill in DC Ranch is where it would be!