Increase in Scottsdale Real Estate Prices Slows, Demand Remains High

The 47 percent increase in Scottsdale real estate prices over the last year has had experts crying "bubble" through 2005, and while prices are starting to slow, demand for Scottsdale real estate is still high according to local realtors.

Scottsdale real estate agents have noticed a small increase in the time it takes to sell homes, and the month to month price increase for July 2005 was the smallest this year. The 2 percent increase was one third of what it has been other months this year.

Gone are th "bidding wars, where buyers simply lined up and made offers," says one Scottsdale real estate agent. But does that mean that the local market is peaking?

Realtors say there is no cause for alarm. However, this could be the end of the huge price jumps, which is good news for both buyers and sellers, as "a strong yet stable market is always desirable."