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Mesa Gilbert Lead In Phoenix Area Home Sales
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Mesa and Gilbert were the only two Valley municipalities to sell more than 300 new homes during the first quarter of 2016.
Mesa and Gilbert are leading the pack in new-home sales this year, according to Street Scout Home Values, an annual analysis of metropolitan Phoenix’s housing market done with the Information Market.
The analysis showed the municipalities were the only two in the Valley to sell more than 300 new homes during the first quarter of 2016, with 347 sales in Mesa and 301 sales in Gilbert.
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Rising home prices closer to Phoenix's urban core are driving more buyers farther out to find homes they can afford, with homes priced below $400,000 in particularly high demand. Mesa and Gilbert are delivering, with more than 50 actively selling new-home communities each and median home prices in the low- to mid-$300,000s.
"Gilbert is perhaps, at this particular point in the cycle, the most desired address in the metro Phoenix area from a demand perspective. It's always been very popular for new homes, even throughout the downturn," real-estate analyst Jim Belfiore said.
"The recession hit Mesa far harder, I think because it's such a large geographic area and so diverse, but it's now doing really, really well relative to other cities," he said.
Top-selling ZIP codes in Mesa this year — 85212, 85207 and 85209 — are concentrated on the city's east side, where incomes and education levels are higher and developments are newer.
Top-selling ZIP codes in Gilbert include 85298, 85295 and 85296, generally mirroring the top ZIP codes for single-family building-permits issued by the town, according to a map provided by Gilbert officials.
Top-selling subdivisions in Gilbert for new-home sales:
Discovery and Encore at Adora Trails
Seaboard at Cooley Station
Union Pacific at Cooley Station
Marquis at Morrison Ranch
Artisan at Morrison Ranch
Top-selling subdivisions in Mesa for new-home sales:
Encore at Eastmark
Villa Rialto by Bela Flor
The Palms by Horton
Discovery at Morrison Ranch
Americana at Mulberry
Source: Belfiore Real Estate Consulting. Data is from the period from mid-January to mid-March.
Reference Full Story: http://www.azcentral.com/story/news/local/mesa/2016/05/06/mesa-gilbert-lead-phoenix-area-new-home-sales/83566692/
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