Some Valley neighborhoods seeing big jump in home values - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

Some Valley neighborhoods seeing big jump in home values

PHOENIX (CBS5) -

It's been quite a roller coaster ride for the Valley's Housing market, but home prices are finally bouncing back.

In September 2011, the median home sale in the metro-Phoenix area dropped to $125,000.

In May 2013, it was $185,000.

But some Valley communities are doing better than others when it comes to rising home values.

Here's a look at the hottest neighborhoods and zip codes, according the MarketWatch Report.

Zip code 85142 in Queen Creek, around Hunt Hwy and Ellsworth Road, had home values climb 32.2 percent in the past year.

Zip code 85213 in Mesa, around Lindsay Road and McKellips Road, had home values go up 40.7 percent.

Zip code 85251 in Scottsdale, around Indian School Road and Scottsdale Road, had home values rise 43.3 percent.

Zip code 85303 in Glendale, around Bethany Home Road and 75th Avenue, had home values rise 45 percent.

Zip code 85012 in Phoenix, around Camelback Road and 7th Street, had home values rise 81 percent.

Yet, despite the real estate resurgence, some Valley communities haven't seen that big of a bounce on home values.

Zip code 85375 in Sun City West, around Grand Avenue and Bell Road,  has seen home values go up just 7.9 percent.

Zip code 85248 in Chandler, around Arizona Avenue and Chandler Heights Road, is only up 7 percent.

Zip code 85266 in Scottsdale, around Scottsdale Road and Dixeletta, is only up 5 percent.

Zip code 85378 in Surprise, near Bell Road and 115th Avenue has seen home values drop 0.6 percent.

Zip code 85390 in Wickenberg had home values drop 5.7 percent in the past year.

For more information the real estate statistics and to see how other zip codes are doing, visit http://armls.com/docs/market-watch-report-2013/armls_mwr_2013-q1.pdf?sfvrsn=2

Copyright 2013 CBS 5 (KPHO Broadcasting Corporation). All rights reserved.

 

 

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