I was just looking in the Multiple Listing Service to find out some of the options out there for buying a home in Scottsdale versus renting.
There are 1,761 single family homes fully active for sale in Scottsdale currently. For rent the number is only 457. So choice is definitely lower for renters.
Renting in Scottsdale
Average rent price for is $3532 per month. Average square foot is $2932. Those number extrapolate out to a ration of 1.21 dollars per square foot per month.
So if you are planning to rent soon, keep that figure of $1.21 per square foot per month number in mind as a benchmark. Then of course consider other factors such as location and quality of the home. For example average price per square foot per month for zip code 85255 is higher at $1.33 which is almost 10% higher.
Buying in Scottsdale
For home buyers average list price is $1,108,918. Average square footage is 3,808. That equates to $251.53 per square foot. Remember though that is list price, and the list prices for sale tend to be far more optimistic than for rental properties.
If you are weighing up whether to buy or rent in the current market be sure to give me a call and we can run over all the statistics involved.