Home News AZ Big Media 5 Metro Phoenix neighborhoods most likely to retain home value

AZ Big Media 5 Metro Phoenix neighborhoods most likely to retain home value

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Median home prices in Phoenix fell from $480,000 in May to $460,000 in July, according to the Cromford Report. A slowing summer market and higher home prices from sellers account for much of the decline, but it is true that Phoenix prices have not risen at the rate seen earlier this year. That said, it’s still a seller’s market based on current inventory levels. As homebuyers and investors assess which metro he expects the Phoenix area to maintain its value, we wanted to share our top picks.


read also: Arizona ranks second in home price growth


Arcadia

This former citrus grove has long been one of the most coveted areas in the Valley. A desert oasis, Arcadia is known for its sprawling lawns, abundant citrus trees, modern ranch homes, prestigious schools, and some of the best restaurants and cafes in the Valley. Buyers looking for well-maintained homes and close-knit communities continue to choose Arcadia.

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, and often second or third, home.

Scottsdale

Scottsdale’s popularity as a tourist destination continues to grow, and more and more people are investing in short-term rental properties in this affluent Phoenix suburb. Beautiful weather, the Cactus League’s Spring Training Games, the Waste Management Phoenix Open, and the Barrett Jackson Auction have long drawn spring visitors. Short-term rentals aside, Scottsdale is also great for those who enjoy this resort town’s extensive shopping, dining, nightlife and entertainment options.

Gilbert/Chandler/Mesa

The East Valley has become the Valley’s massive semiconductor hub, with significant corporate investment and thousands of new jobs brought 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 neighborhoods, making him one of Metro Phoenix’s most desirable neighborhoods.

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. With new skyscrapers, an explosive restaurant scene, an abundance of arts, culture, sports entertainment, and the popularity of downtown living, housing values ​​in the area should continue to rise.

Oleg Bortman Broker.

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