5 Phoenix neighborhoods posting the biggest home price gains since the crash
Catherine Reagor
Buyers could've purchased homes in the $40,000 range when the housing crash hit rock bottom in 2011.
Here are the five metro Phoenix neighborhoods posting the biggest percentage point increases in median home values since then, according to The Arizona Republic’s Street Scout Home Values.
The Street Scout data comes from The Information Market, owned by the Arizona Regional Multiple Listing Service.
Most of these neighborhoods are some of the Valley’s most affordable and saw home prices fall the most during the real-estate bust. All are closer in and drawing buyers, investors and flippers.
85035: Maryvale
Home prices in this neighborhood on the southern end of west Phoenix's Maryvale community have soared 330 percent since 2011.
The median home price in the community along Interstate 10 hit $171,800 at the end of 2018, up from $40,000 during the crash.
The Valley’s median home price is nearly $100,000 more at $268,000.
85031: Maryvale
Home prices in this central Maryvale neighborhood jumped 325 percent to $170,000 at the end of 2018.
The median home price in this neighborhood with mostly block homes and carports fell to $40,000 during the crash.
SEE OUR DATABASE: Home values in metro Phoenix: See how your ZIP code fares
85033: Maryvale
The western end of Maryvale also made the list of biggest price increases since the housing crash. The median in this area has climbed 305 percent to $174,250.
The median for the neighborhoods of smaller block homes plummeted to $43,000 in 2011.
85017: West Phoenix
Home prices in his neighborhood where growing Grand Canyon University is located are up 302 percent since 2011. The area’s median has climbed from $41,000 during the crash to $165,000 at the end of 2018.
Neighborhoods around the university are being revitalized by its growth. The 85017 area also is among the five most affordable ZIP codes in metro Phoenix.
RELATED: 5 neighborhoods that offer the best value for first-time homebuyers
85006: Central Phoenix
This central Phoenix neighborhood, home to the Coronado and Garfield historic neighborhoods, has seen home prices soar 298 percent since the crash.
The area’s median price has climbed from $63,000 in 2011 to $251,000 at the end of 2018.
Renovation dumpsters in front of smaller Spanish-hacienda and bungalow style homes have been the norm in this neighborhood. But it’s getting harder to find affordable fixer-uppers here.
MORE ON STREET SCOUT HOME VALUES:
- A look at 2018 home values in metro Phoenix and what to expect in 2019
- 5 metro Phoenix neighborhoods with biggest home price jumps in 2018
- Where did homebuyers flock? 5 areas with the biggest increases in home sales
- Rising home values aren't a given. Here are 5 areas where home prices dipped
- 5 Phoenix-area neighborhoods that offer the best value for first-time homebuyers
- Looking for a mansion? Here are the 5 priciest areas in metro Phoenix
- 5 Phoenix neighborhoods posting the biggest home price gains since the crash
- Ready to trade up? Where move-up homebuyers are heading to find deals
See home values by ZIP code on our Street Scout map
Reach the reporter at Catherine.Reagor@arizonarepublic.com or 602-444-8040. Follow her on Twitter @Catherinereagor.
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