Scottsdale home sales highest in nearly five years

Scottsdale home sales spiked in March to their highest level in nearly five years as short sales, foreclosures and fix-and-flip foreclosed properties boosted the market. Home sales and foreclosures were up just under 80 percent from a year ago, according to the latest monthly report from Arizona State University Realty Studies. Scottsdale's median price of $370,000 was down 1.3 percent from March 2009 but it was one of the smallest declines in years. The median price flattened out, but foreclosures and short sales brought down the average price per square foot, said Fletcher Wilcox, a Grand Canyon Title Agency vice president who analyzes the local housing market.

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