The real estate market in the greater Phoenix area has been flourishing steadily since the 1960s as more and more people are drawn to the beauty of the desert, gorgeous sunny weather, clean air, and thriving local economy. Both Glendale and Peoria have a range of neighborhoods and types of homes available to buyers. Arizona’s property tax rates are determined by school district.
The median price of a new home in Glendale, Arizona is about $165,000. The median price of a pre-owned home is about $135,000. Glendale City has put a lot of attention on renovating its older inner city neighborhoods, and as a result, buyers can find lovely older houses in attractive established neighborhoods. Since 1995, the City has awarded more than $5 million to neighborhoods to brighten up their communities, and the Neighborhood Partners in Progress program teams the City with communities to help increase property values in these more mature sections. Honeywell Inc., a major employer in the city, led other businesses to join with them in granting new homes to four inner city families; they chose Glendale over other Valley cities after the Mayor and Council voiced its commitment to revitalization. Central Glendale is also seeing a lot of new development and prime infill lots are currently hot property; some apartments and condominiums are being built, but the City has largely eschewed high-density development in favour of single-family homes of equal or better quality than the nearby existing housing.
Northern Glendale is undergoing new development, much of it highly upscale. Arrowhead Ranch has beautiful new homes, two championship golf courses, lakes with 14 miles of shoreline, and a country club and sports complex, all spread over 4,000 acres. Home values range from $120,000 to $1 million. The recent Sierra Verde development at Arrowhead Ranch contains two multi-housing projects; units are hot property at present. Sierra Verde amenities include wilderness trails, lakes, and a neighborhood park; other new developments in the planning and early building stages all include trails, open spaces, and neighborhood parks.
Housing prices tend to be a little lower in Peoria than in Glendale. Continuing annexations mean that there is usually development going on; the Arizona new manufactured home market is growing dramatically. Pre-owned homes are typically ranch style; Spanish style homes are popular as well.
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