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The west side's sales strength was no fluke last year.
More home buyers opted for the more affordable and accessible West Valley
than the more established and pricier East Valley for the second consecutive
year, according to numbers from The Arizona Republic's housing market
survey.
The area - stretching north to Anthem, west to Surprise and Buckeye, and
south to Goodyear - also led the Valley in home construction for the third
straight year, according to housing analyst R.L. Brown.
"The shift has happened, and the west will continue to draw the most home
buyers during the next several years," Brown said.
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West-side cities have drawn more buyers for
the past few years, but the demand has just begun to buoy values.
Despite the rising prices, the area still boasts some of the most affordable
communities in Greater Phoenix.
The median price of a home in Glendale was $139,500 last year. In Gilbert, a
typical home cost $167,000. In Goodyear, the priciest of all West Valley
cities, the median price is $154,000. Scottsdale's price is $294,000.
Homeowners in the former West Valley farming communities of Surprise, El
Mirage, Avondale and Peoria saw their homes rise last year. Buckeye was the
exception, but housing analysts say that's because its prices jumped 24
percent the previous year.
Dennis and Joanne Rottell moved from Plymouth, Mich., to Estrella Mountain
Ranch in Goodyear last Thanksgiving to be closer to their daughter, who has
a home with her husband in Litchfield Park.
"We checked around but dollar for dollar, you just get more house out here,"
Joanne said.
"We love being further out from Phoenix. The freeway is right there if we
need to get around."
Loop 303 is expected to open the area up to more buyers.
The Loop 101 launched the west side's long-awaited housing boom a few years
ago by connecting the area between Interstate 17 and Interstate 10.
Before the 101, the often congested Grand Avenue was the quickest route to
cities like Surprise, Peoria and Glendale.
Last year, 45 percent of all new homes were built on the west side,
according to Brown's Phoenix Housing Market Letter.
That translates into 17,511 single-family permits, up from the nearly 16,000
tallied in the area during 2001.
The East Valley's rate of new home building has held steady at about 14,000.
Several new housing developments from Lake Pleasant to the White Tank
Mountains are just getting under way in the west, so housing analysts say
the area's boom is just beginning.
And many of the new communities will sell more high-end homes, similar to
ones found in Chandler and Scottsdale, though the west-side homes will still
cost less because of less expensive land prices in the area.
"We sold 13 acres on a lake in the Midwest and moved here," Joanne said.
"We were going to build a home, but found a beautiful one ready for us to
move in."
The Arizona Republic
Mar. 2, 2003