85258, Scottsdale, AZ

Scottsdale, Arizona is a popular tourist destination for people in the Phoenix metropolitan area. The city has a population of about 212,000 and is located in Maricopa County. Scottsdale was founded in 1885 and became a city in 1951. The 85258 zip code includes much of the city's downtown area as well as some suburban neighborhoods.

The Scottsdale market has seen strong growth over the past several years, with home prices reaching all-time highs in 2017. Currently, the median home price in this zip code is $480,000 and the average home value is $624,000. Home equity values have also grown rapidly over the past few years; according to Zillow data from January 2018, home equity values are up 28% from their pre-recession levels. This strong market performance has led to increased demand for homes in this zip code; according to Trulia data from January 2018, there are currently 97 active listings for homes in this zip code compared to only 54 listings at this time last year.

One factor that has contributed to the strong market performance of homes in Scottsdale is the low unemployment rate here; according to Bureau of Labor Statistics data from December 2017, Scottsdale's unemployment rate was 2%. This low unemployment rate makes it easier for people who want to buy a home to find one that they can afford and also makes it more likely that people will be able to sell their homes quickly if they decide they no longer want them. Additionally, many people who live in Scottsdale own their homes outright which helps keep demand high for these types of properties.

Despite these positive factors, there are some risks associated with buying or selling a home in Scottsdale right now; one such risk is interest rates which are currently at historic lows due to concerns about inflationary pressures around the world. If interest rates rise significantly then buyers may find it harder to afford homes or sellers may have difficulty selling their properties at current prices. Additionally, there could be another housing bubble like we saw during the 2008-2009 recession if too many people rush into buying or selling homes without doing their research first.