A recent study conducted by My Home Group’s Peoria-based Laughton Team, led by George and Jennifer Laughton, found that 13 neighborhoods in the Northwest Valley appreciated from 36.6% to 94.4% in just over five years, with the Dos Rios community nearly doubling in value.
“This study was not only a great example of how the market has changed since it bottomed out in 2011 but is also a great vote of confidence for sellers who are now sitting on more equity than expected and buyers whose new homes will only continue to increase in value, some more dramatically than others depending on the neighborhood,” said George Laughton.
All of the Northwest Valley neighborhoods included in the study (some combined due to proximity), including the one low performer, averaged an impressive 52.2% appreciation price per square foot from 2011 to 2016, with 15% appreciation in 2013-2014 alone. The below results show increase in annual average sales price per-square-foot in each neighborhood:
Dos Rios: 94.4%
Dove Valley Ranch Peoria: 65.3%
Blackstone at Vistancia: 58.2%
Fletcher Heights: 56.5%
Sonoran Mountain Ranch: 54.8%
Fletcher Farms: 50.0%
Stetson Hills: 49.7%
Westwing Mountain: 44.0%
Stetson Valley: 38.3%
Pleasant Valley: 36.6%
Trilogy at Vistancia: 18.2%
Taken from data between 2011 to 2016, the Laughton Team’s study was obtained from public records (rather than the MLS), as that would have excluded for-sale-by-owner homes and other non-MLS sales. The data that is the foundation of this report was compiled by real estate guru Mike Orr, founder of the Cromford Report and former Director of the Center for Real Estate Theory and Practice at ASU.
For more details and research found in the study, visit www.laughtonteam.com/neighborhood-vs-neighborhood. For more information or to contact the Laughton Team, visit www.laughtonteam.com or call 623.565.5576.