Best Home Values Around the Phoenix Area
Phoenix continues to attract home buyers and investors from all over the country. In fact, some of the best home values around the Phoenix area are situated within the suburbs. From traditional abodes to modern and contemporary units, the area is blanketed by a myriad of new and existing houses with all the latest amenities. However, there are plenty of available listings within the city and outskirts as well. According to the Phoenix Home Value Index, the median value for a house in the city and nearby locales is $202,300. This number is based on November 2017 statistics and findings — but the overall value is bound to increase due to new sales in the first quarter 2018.
Phoenix Home Values
As of December 2017, Phoenix home values have gone up 9.2% this past year. Real estate monitors predict an increase of 3.8% within 2018. The main reason for this is new interest in burgeoning residential developments and sub-divisions. From one-story to two-story homes and mini-mansions, investors are pouring in new monies to help stimulate growth and expansion in the Greater Phoenix Area. The Metro Phoenix Area has also seen an increase in price per square foot — now around $154. This is an increase of $12 from late 2015 — and even the overall median price of homes is currently listed at $249,000. For those looking to rent or sub-let, the median price in and around Phoenix is $1,200. However, the Metro area specifically is at $1,295.
The Best Home Values
The best home values around the Phoenix area also include the city neighborhoods. This includes: Mesa, Chandler, Tempe and Gilbert, and others. Homes within the city neighborhoods range from $137,000 to well over $400,000. This includes newly built houses, along with existing properties and some short-sale units.
Once real estate investors find the right property, it’s a great idea to contact your local Phoenix property management company. With years of extensive market experience, they have the tools and expertise to manage your properties to ensure the most profit.