Zillow provides a significant amount of current home value and forecast data on its web site, including research reports and market overviews. It can be quite overwhelming, because there is so much of it. However, one of the benefits that I’ve gotten from being a member of the Zillow Agent Advisory Board is education about their market statistics and access to researchers who can give me more detailed, or simplified information.
Today, I received the Zillow home value forecasts for Scottsdale, by zip code. It answers a question that I’m often asked, “What part of Scottsdale should I buy in for the best investment”?
My usual response is that I don’t have a crystal ball, which is true. I wish I did, but now I do have access to information that’s been put together by a company that has the resources, methodologies, and models to put a very educated forecast together.
Before I go any further, let’s be clear. The definition of forecast is: “to predict or estimate”. And that is exactly what a forecast is. A prediction, or an estimate.
Zillow’s home value forecast for all home types in Scottsdale is that the average appreciation will be 7.9% for the period from June 2013 to June 2014.
And this chart shows the anticipated increase for each Scottsdale zip code.
|85257||11.1%||South Scottsdale – between Tempe and downtown Scottsdale|
|85251||9.3%||South and Downtown Scottsdale – north border is Camelback Road|
|85250||9.6%||South Scottsdale – between Camelback and Indian Bend Roads|
|85258||7.7%||Primarily McCormick, Gainey, and Scottsdale Ranches|
|85254||10.0%||North of Shea and West of the 101|
|85259||9.1%||East of the 101, bordering on Fountain Hills|
|85260||8.3%||North of Shea and East of the 101|
|85255||6.9%||North Scottsdale, including Greyhawk, DC, and McDowell Mountain Ranches and the surrounding area|
|85262||7.5%||North Scottsdale including Troon and Desert Mountain, borders Carefree|
|85266||5.9%||North Scottsdale including Terravita, borders Cave Creek|
So, for all zip codes in Scottsdale, prices are on the rise, with stronger appreciation expected in the southern part of the city. This is good news for home sellers who’ve been on the fence about selling, not sure if they have equity yet, and stronger motivation for home buyers who are ready to buy now.
Related Information: Scottsdale Zip Code Map
Homes for Sale in Scottsdale