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Phoenix Real Estate For Sale - Real Estate for Sale in Phoenix Arizona

valley prices near houses

Prices of Phoenix real estate up for sale seem to be at or near bottom in the Phoenix area, also known as the Valley Of The Sun. Recent approval for improvements on the interstate highway system and building a light rail system bodes well for the valley which is surrounded by small mountains. Phoenix was built as a grid so it’s easy to get around this sprawling city covering about 500 square miles and now classified as the fifth largest in the country.

Sale prices have been improving a little since January, with houses priced under 200K in good condition getting multiple offers while spending less time on the market. A lot of Phoenix real estate for sale in the east valley is selling near list price and more first-time buyers are house hunting. One big lender reports that 94% of their area mortgages are performing.

Although foreclosures continue pouring into the market, about a quarter of them are in good to near-new move in condition, many in gated communities with a swimming pool and represent a great bargain. A lot depends on location since prices are flat in some areas and rising in others.
Bordering Phoenix is Scottsdale, a high income suburb where houses mostly sell for over a million dollars.

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