Hot Spots in Phoenix Real Estate

There are some real hot spots in Phoenix this winter. These Hot Spots are fueled by two things:

  • Jobs
  • Lifestyle

    These Hot Spots cause a lot of Buzz. Get it?

There’s been a lot of job growth recently in the I-10 corridor, the I-17 corridor as well as right around North
Tempe and South Scottsdale.

So let’s use a fun bee analogy, shall we?

These areas (Phoenix Metro area) are attracting a lot of employers (hives) which in turn are attracting employees (bees).

Ok, silly bee analogy over. I just wanted to be cute.

What’s big right now is what I like to call “Urban Roosting.” There are two demographics at play when it comes to Urban Roosting:

Demographic 1) The older population. A lot of these folks feel they have done enough hard work in their lifetime (mowing lawns, house renovations, day jobs) and want to move in closer to the big city and trade in their hard work for fun (gambling, drinking, golfing, swimming, no mowing lawns).

This rooster ain’t Urban Roosting; he’s busy running for president in 2020.

Demographic 2) The younger (and sometimes older) population. These folks are typically coming into the homeownership market for the first time. They want that easy-peasy, fun lifestyle too. The fact that they can go have a beer with their friends after work and not have to worry so much about driving is ideal for them. Every store and convenience is centrally located right near their home.

Budget is a big, big thing, and as the Hot Spot areas around Phoenix become more popular, the prices just go up. Last year, 72% of all homes sold in Phoenix sold for $300,000 or less. Only 47% of the current inventory falls in this price range. Even worse, 40% of the homes were sold in the $200,000 or less price range. Only 23% of the current inventory has that kind of price tag. Like I keep telling you *cue broken record* this price range is disappearing FAST.

Not that kind of Hot Spot, but pretty close.

All the new builds are going to the outskirts of town, away from the Hot Spots in town.

You’re going to see investors coming into town, buying up these properties that are old and crummy, then making them all new and pretty so people can move in and not have to worry about doing a lot of maintenance because again, that’s what the Hot Spot buyers are trying to get away from.

The Upside of Buying in a Hot Spot: You’re probably going to see a little bit higher appreciation rate than you might see in other areas.

The Downside of Buying in a Hot Spot: There’s much more demand than supply. You’re going to need a really good strategy to get in there and buy.

If you have any questions or comments, or if you just wanna have some hot chocolate with me on this cold wintry day, let me know. Thank you for reading and watching!

Kristin LaVanway
480-282-7464
kristin@hereinphoenix.com

Displaying 1 - 15 of 22 results.
Sort by:

2333 E Southern Avenue, Tempe 85282, Hudson Trace

  • $154,350
  • Bedrooms: 1, Baths: 1
  • Home size: 905
  • Lot size: 777
  • Year built: 1985
  • MLS #: 5839167
ARMLS Logo

1245 E Laguna Drive, Tempe 85282, Cyprus East

  • $299,999
  • Bedrooms: 4, Baths: 2
  • Home size: 1,939
  • Lot size: 8,224
  • Year built: 1963
  • MLS #: 5869157
ARMLS Logo

2401 W Southern Avenue, Tempe 85282, The Meadows

  • $9,900
  • Bedrooms: 2, Baths: 1.75
  • Home size: 1,440
  • Lot size: 3,000
  • Year built: 1971
  • MLS #: 5862711
ARMLS Logo

434 S 76th Way, Mesa 85208, Fountain OF The Sun Parcel NO 7-A

  • $145,000
  • Bedrooms: 2, Baths: 2
  • Home size: 1,561
  • Lot size: 7,645
  • Year built: 1992
  • MLS #: 5869809
ARMLS Logo

1617 N Chippewa Drive, Chandler 85224, Continental Terrace Lot 1-232 270 271 TR B

  • $185,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,520
  • Lot size: 5,467
  • Year built: 1986
  • MLS #: 5868938
ARMLS Logo

6510 S Hazelton Lane, Tempe 85283, Legends AT Tempe 2ND & 3RD Amd

  • $255,000
  • Bedrooms: 3, Baths: 2.5
  • Home size: 2,145
  • Lot size: 2,367
  • Year built: 1998
  • MLS #: 5868789
ARMLS Logo

401 S 96th Street, Mesa 85208, Golden Crest Terrace Unit 2

  • $75,000
  • Bedrooms: 2, Baths: 2
  • Home size: 1,441
  • Lot size: 6,978
  • Year built: 1980
  • MLS #: 5870419
ARMLS Logo

6643 E Alder Avenue, Mesa 85206, Desert Wells

  • $150,000
  • Bedrooms: 1, Baths: 1
  • Home size: 3,600
  • Lot size: 19,206
  • Year built: 1955
  • MLS #: 5848688
ARMLS Logo

1809 E Concorda Drive, Tempe 85280, Palmcroft Manor 1

  • $269,995
  • Bedrooms: 4, Baths: 1.75
  • Home size: 2,404
  • Lot size: 11,966
  • Year built: 1962
  • MLS #: 5868260
ARMLS Logo

741 N Beverly --, Mesa 85201, Mesa Westwood Heights

  • $215,900
  • Bedrooms: 3, Baths: 1.75
  • Home size: 1,611
  • Lot size: 7,980
  • Year built: 1971
  • MLS #: 5868679
ARMLS Logo

1110 S Farmer Avenue, Tempe 85281, Val Verde

  • $285,000
  • Bedrooms: 1, Baths: 2
  • Home size: 852
  • Lot size: 6,500
  • Year built: 1992
  • MLS #: 5755126
ARMLS Logo

814 E Oakland Street, Chandler 85225, Kingston Manor

  • $189,900
  • Bedrooms: 4, Baths: 2
  • Home size: 1,559
  • Lot size: 6,172
  • Year built: 1971
  • MLS #: 5865264
ARMLS Logo

11232 E Sandoval Avenue, Mesa 85212, Keighley Place

  • $300,000
  • Bedrooms: 4, Baths: 3
  • Home size: 2,767
  • Lot size: 6,900
  • Year built: 2012
  • MLS #: 5865034
ARMLS Logo

8103 E Southern Avenue, Mesa 85209, Brentwood Southern 55+ Restricted

  • $27,500
  • Bedrooms: 2, Baths: 1
  • Home size: 952
  • Lot size: 0
  • Year built: 1984
  • MLS #: 5866632
ARMLS Logo

1806 E Dana Avenue, Mesa 85204, Secluded Village

  • $222,000
  • Bedrooms: 3, Baths: 2
  • Home size: 1,715
  • Lot size: 10,666
  • Year built: 1960
  • MLS #: 5845389
ARMLS Logo
Copyright 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.

IDX Solution Provided by iFoundAgent.com

ARMLS Listing Data last updated 1/22/2019 7:38 PM MST.