Gilbert, Chandler ZIP codes have priciest homes in East Valley SanTan Sun News

Gilbert, Chandler ZIP codes have priciest homes in East Valley

April 20th, 2017 | by SanTan Sun News
Gilbert, Chandler ZIP codes have priciest homes in East Valley
Business
0

BY PAUL MARYNIAK

 

Even with his $5 million house, the Gilbert ZIP code where Los Angeles Dodgers star Andre Ethier lives is nowhere near Arizona’s priciest ZIP code, according to a survey by a major real estate research website.

In fact, Gilbert ZIP 85298 is only the 22nd priciest in Arizona, according to an analysis by Propertyshark. com, a property research tool founded in 2003 by real estate investor Matthew Haines.

The site computed its list of the 50 priciest ZIP codes in the state by calculating the median price of all residential transactions closed in 2016 for single- and two-family homes, condos and co-ops and excluding so-called package deals.

Ethier’s ZIP code showed a median sale price of $337,500.

In all, 12 East Valley ZIP codes and another two in Ahwatukee were among the top 50, with the highest being Tempe’s 85284, which came in 12th with a median price of $397,500.

Five Scottsdale ZIP codes cracked the top 10 and Paradise Valley’s 85253 came in first with a median price of $1,040,000 – the only seven-figure median price in the state.

But even that median doesn’t break the top 50 ZIP codes in the nation, Propertyshark said. The priciest ZIP in the country is Portola Valley, California, where the median sale price was $2.8 million and the 50th was Amagansett, New York, with a $1.7million median price.

“Arizona’s real estate market has had a great run in 2016, with both sales and prices expanding, while stock, as in many other regions in the country, contracted. Phoenix, one of the hardest hit markets during the 2008 crash, has been rebounding in a spectacular manner,” Propertyshark said in a release.

“Named the second-best city for homeowners, Phoenix now sports the second-fastest-growing home appreciation rate and the second-lowest foreclosure rate among the country’s top metros,” it added.

 

Here is the rank, ZIP code and median price of the other top East Valley markets:

18 – Ahwatukee – 85045 – $342,000

21 – Chandler – 85249 – $338,450

22 – Gilbert – 85298 – $337,500

27 – Chandler – 85286 – $320,000

34 – Queen Creek – 85142 – $300,000

35 – Ahwatukee – 85048 – $300,000

37 – Gilbert – 85297 – $290,000

43 – Chandler – 85248 – $272,500

44 – Gilbert – 85295 – $272,000

45 – Mesa – 85207 – $270,000

46 – Gilbert – 85234 – $270,000

48 – Mesa – 85213 – $269,000

50 – Mesa – 85212 – $265,

Comments are closed.