Feb 23 2016 Market Update

Feb 23 2016 Market Update

If we compare the average price per sq. ft. for single family homes over the 3 months November through January with the same period 12 months earlier, we can find certain parts of the City of Phoenix with extraordinarily high appreciation rates compared with the rest of the city. Most of these are in the center, west or south of the city. The top examples are:

  1. 85009 +33%

  2. 85008 +26%

  3. 85031 +26%

  4. 85012 +24%

  5. 85033 +22%

  6. 85019 +21%

  7. 85017 +21%

  8. 85007 +21%

  9. 85043 +17%

  10. 85037 +17%

  11. 85040 +16%

  12. 85035 +15%

Many of these ZIP codes contain large numbers of rental homes that are currently off the market. This level of appreciation may tempt some owners to cash in on their investments and sell them. However the vast majority are occupied and on lease, so they are most likely to be sold in bulk to new landlords rather than come onto the normal MLS market.

If you're curious about your zip code send me a message and I can look it up for you.

Dave Zajdzinski Headshot
Phone: 480-332-6468
Dated: February 23rd 2016
Views: 124
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