The housing industry has been on the forefront of most people’s minds over the last several months – and with good cause. Prices have been dropping, foreclosures are rising and credit has gotten tighter. Yet, while almost everyone is feeling the pinch, the bad news is not universal. Each market in terms of real estate is unique. And there can even be sub-markets within these markets that vary in performance levels.
Take the Phoenix Valley – Some areas have been severely impacted, while other areas have continued to appreciate in price. The Arizona Republic just released its 2007 Home Values by Zip Code report (through December 31, 2007) and with this tool, you can search and see year-over-year median price results and performance for new homes, resale homes or both broken out by zip code from the year 2002 on. And, it lets you get more detailed than that- You can even view the information down to the mail carrier route level.
To give you an overview, I have pulled some information on a few of the zip codes I work in.
| Sample Zip Codes- Median Price Change Between 2006 and 2007 | ||||
| New* | Resale | Overall | ||
| Scottsdale | 85255 | 10.8% | 5.1% | 3.9% |
| 85262 | N/A | 5.4% | 6.7% | |
| 85260 | N/A | 0.0% | 0.0% | |
| Carefree | 85377 | N/A | 6.3% | 6.7% |
| Paradise Valley | 85253 | N/A | -5.2% | -4.8% |
| * Data only available for years in which 50 or more homes were sold. | ||||
As you can see, this is a great tool for anyone who wants to see where prices have been going- whether they are looking to buy, to sell or are just curious.
All data came from the the Arizona Republic’s 2008 Home Values by Zip Code report.
For more market information on Scottsdale and the surrounding areas, please visit my real estate market reports.
Disclaimer: Information herein deemed reliable but not guaranteed. Data was pulled from many sources and can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2008 Heather Tawes Nelson
