Investors of all skill levels and financial levels have found the Arizona real estate market to be a great investment decision since the Arizona location was favored in recent years. Investors have a wide variety of properties to choose from, and the area also boasts a burgeoning population, a booming tourism industry, first-class amenities, construction of major industrial and commercial centers, and affordable housing. But what are the best areas of Phoenix to invest in real estate?
of Cromford Market Index shows that the Phoenix housing market is beginning to balance out after two years of seller’s market activity. Zillow reports that Phoenix home prices fell 2.8% between June and July this year. Despite price drops this summer, Phoenix home prices have continued to climb a staggering 69.5% since July 2019.
The influx of home listings, combined with the drop in demand, is balancing the market as quickly as we’ve seen it. However, this seems to have calmed down for now, creating a balance in the market. It looks like you are ready to settle into a more stable situation.
If you’re looking to invest in real estate, here’s a list of the best neighborhoods in Phoenix.
Best areas in Phoenix for extended viewing:
Arrow: An established community, tree-lined streets, numerous shopping outlets, and mountain views make Arrowhead a very popular destination for many homeowners. Without the hassle of expansion or construction, the location offers a wealth of amenities in an existing suburban area. For less money, you can get better housing, access to outdoor recreation like hiking, and more to do in the West Valley.
Maryvale: An urban village in Phoenix, Maryvale is a very affordable neighborhood located between downtown and GCU. The area is very popular due to community efforts to improve and restore the area. Recreational activities abound for both parents and children, and there are modern ranch homes and schools nearby.
Scottsdale: Scottsdale’s popularity as a tourist destination continues to grow, and so does the number of people investing in short-term rental properties in this affluent Phoenix suburb. With beautiful weather, cactus his league spring training games, and waste management open, Barrett-Jackson has long attracted spring visitors, ensuring a steady stream of winter and spring visitors in need of housing. . The Scottsdale housing market 10.33% over the last 12 months. According to Neighborhood Scout, this rate is among the highest in the United States, surpassing 94% of cities and towns nationwide..
Glendale: From sports arenas to giant water parks, Glendale is on the rise! With quick access to training facilities, Glendale has proven to be a good location for short term rentals. The fact that Glendale is close to new semiconductor manufacturers, along with sporting events, shows why investing in short-term rentals in Glendale can prove profitable.
Paradise Valley: Home to world-class resorts and golf courses, Paradise Valley continues to rank among the most expensive zip codes in the country. One acre of land, stunning luxury homes and a lush desert setting make Paradise Valley a prime attraction for homebuyers who make Paradise Valley their first, second or third home.
Biltmore Area – Phoenix: The Biltmore neighborhood of Central Phoenix is sandwiched between Arcadia, North Central Phoenix, and parts of Paradise Valley. As far as price goes, its triangulation presents an excellent opportunity, as the area adjacent to it squeezes the Biltmore. The area offers quick access to the Camelback Corridor (think banks and restaurants), downtown, the airport, and Scottsdale.
Scottsdale: North Scottsdale is a very popular residential area due to its stunning mountain scenery, delicious restaurants, affluent community and upscale shopping. Many of North Scottsdale’s most famous neighborhoods include championship golf courses, lighted tennis courts, resort-style swimming pools and spas, clubhouses and dining options. A sophisticated and charming home with a comfortable backyard and large outdoor patio where you can enjoy the best of outdoor living and watch the glorious and famous sunsets.
Gilbert/Chandler/Mesa: The East Valley has become a massive semiconductor hub, bringing massive corporate investment and thousands of new jobs to the region. With this growth comes a sustained demand for housing, and developers are working hard to keep up. This bodes well for home values in all these East Valley areas, making him one of the most desirable neighborhoods in Metro Phoenix. As a flipper, these parts of town offer relatively new homes that don’t require any substantial “remodeling,” just lipstick.
North Central: Those seeking urban comfort and suburban living will be drawn to the walkable and charming lifestyle that the area offers. North Central Phoenix is one of the city’s fastest growing neighborhoods, with features such as farmers markets and miles of hiking trails that run through the city center. The lush, aged trees that feel more like an oasis than a desert attract Midwesterners.
Downtown Phoenix: The demand for city living has finally hit Phoenix as Creighton University opens its 195,000-square-foot Phoenix campus on the Park Central Mall and ASU expands its downtown footprint. The booming restaurant scene, rich arts and culture, sports entertainment, and popularity of downtown living should continue to drive renters.
Arcadia: An oasis in the desert, Arcadia is famous for its sprawling lawns, abundant citrus trees, contemporary ranch homes, excellent schools, and some of the best dining options in the Valley. Customers looking for well-maintained rental housing continue to choose Arcadia.
The metropolitan Phoenix area is arguably one of the best states to invest in real estate at the moment. The superior quality of life these communities offer has resulted in rising property values, excellent price to rent ratios, and a steadily growing population. If you’re looking to buy real estate, the aforementioned best neighborhoods in Phoenix should be at the top of your list.
author: Trevor H. Halpern, JD is North&Co’s first independent agent based in Phoenix. CEO with Halpern ResidentialA Phoenix native, Halpern’s deep knowledge of both people and property has enabled him to lead clients to success in all areas of town. A graduate of his College of Law at ASU, Halpern prides himself on high-level strategy, efficient negotiation, and precise tactical execution. Since 2011, Halpern has sold more than $130 million of his property, putting him in the top 1% of realtors in the Greater Phoenix area.