Phoenix Real Estate

Phoenix is the sixth largest city in the U.S., and the third fastest growing. It is predicted the population will increase by two million by the year 2020. In 2003, the population of the greater Phoenix area was around 3.3million.

All this growth adds up to a booming Phoenix real estate market, with a wide range of housing options for a resident base that encompasses young families, professional singles and couples, empty nesters and retirees. The Phoenix real market registered its highest sales records in 2003, up 22.63% over 2002, which had also been a record year.

City planners have worked hard to maintain the high standard and low cost of living, and the historically low interest rates have made Phoenix real estate a very attractive investment. Homes in Phoenix are also comparatively inexpensive. The median price of a new home in 2003 was around $176,000.
The average Phoenix resale was $155,000.

Lofts and condos are transforming the downtown area into a residential haven
for residents who like the choice of walking to work or cultural and sporting events. While some lofts are converted commercial buildings or hotels, a number are brand new structures, built from scratch to resemble the converted warehouse-style lofts found in eastern metropolitan areas. See Phoenix Lofts and Phoenix Condos for more information on in-town living options.

The architecture of Phoenix real estate reflects the area’s history. Native American accents combine with Spanish designs and modern touches to create the easy style associated with desert living. The hacienda, or Spanish style home includes front patios, outdoor gardens and courtyards, and beehive fireplaces. Mediterranean or Spanish Colonial style architecture features a prominent tile roof, sometimes using different colored tiles. The California style home is very common, as is a blended style called Southwest contemporary.

While new and newer construction abounds throughout the Valley, Phoenix also has 35 Historic Districts with homes dating from the late 1800s to around 1950. Phoenix real estate in these neighborhoods represents more than 20 architectural styles from Victorian to classic bungalow to ranch, Prairie Style and even English Tudor.

Here are the city’s historic districts with the dates of the historic housing you will find in each (period of significance) Neighborhoods with architecture dating back to the 19th century and very early 2Oth Century are bolded:

Alvarado (1907-1933).
Ashland Place Significance 1920-1940)
Brentwood (1926-1956)
Campus Vista (1939-1956)
Cheery Lynn (1928-1945)
Coronado (1907-1942)
Country Club Park (1939-1946)
Del Norte Place (1927-1945)
Dennis Addition (1883-1931)
Diamond Street (1938-1942)
Earll Place (1927-1942)
East Alvarado (1929-1942)
East Evergreen (1909-1929)
Encanto-Palmcroft (1920-1939)
Encanto Vista (1943-1953)
Fairview Place (1928-1948)
F.Q. Story (1921-1942)
Garfield Place 1909-1942)
Idylwilde Park (1928-1941)
La Hacienda (1926-1954)
Margarita Place (1927-1949)
Medlock Place (1887-1929)
Moreland Street (1887-1929)
North Encanto 1939-1950
Oakland (1887-1935)
Phoenix Homesteads (1935-1937)
Roosevelt (1895-1930)
Roosevelt Park (1924-1942)
Victoria Place (1910-1930)
Villa Verde (1928-1940)
Willo (1910-1950)
Windsor Square (1912-1945)
Woodland: 1880-1935)
Woodlea (1928-1949)
Yaple Park (1928-1940)

Buyers looking for city convenience with a more suburban setting might look at the Baseline corridor in southwestern Phoenix, close to downtown and the airport. Homes here are priced from the low $100,000s to $500,000+.