Increasing household income drives West Valley luxury housing demand

Above: Sterling Grove, an age-qualified Toll Brothers 780-acre master-planned neighborhood, west of Loop 303 in Surprise, offers homeowners access to a private country club and 18-hole Jack Nicklaus-designed golf course. Real Estate | 18 Jul |

With the West Valley’s population anticipated to increase 40 percent by 2030, it’s time for more housing.

But it’s not simply the growth in the West Valley that has caught the eye and interest of residential real estate developers. With a solid and talented workforce, tremendous entertainment options, recreation opportunities, and  splendid quality of life — think big-city opportunities meet small-town charm — there is more to attract home buyers to the West Valley than ever.

What kind of residential homes?

Obviously, the need for residential housing expansion is clear — but what are buyers looking for? Economic developers and residential developers have keenly identified the answer. With an average household income of about $65,000 (and likely rising over the next decade), more and more homebuyers are looking for luxury, dynamic and experiential, residential communities.

Sintra Hoffman

“There’s a ‘quiet wealth’ in the West Valley,” says Sintra Hoffman, president and CEO of WESTMARC. “Almost every city is home to luxury housing communities. This is very different from 15 years ago, when West Valley leaders were trying to attract high-end home builders. Back then, they claimed the West Valley lacked the market for the luxury product. Those days have definitely changed.”

“We saw an expansive community where families had plenty of room to run, play and congregate for generations,” says John Bradley, president of Brookfield Properties Development Arizona.

The community for which Bradley refers is Alamar, an elegant and vibrant community, comprised of 3,500-plus homes spread across 1,127 acres in Avondale.

In close proximity to high-quality and highly rated K-12 schools, a regional park, and easy access to nearby I-10, South Loop 202 and the future SR 30, Alamar is the perfect example of what makes the West Valley positioned for unique and accessible housing opportunities.

“As a bonus, the views of the nearby Sierra Estrella Mountains are beautiful and provide hiking and recreational opportunities that tie into our vision for healthy outdoor living,” Bradley adds.

Housing history repeating and improving

“The same team which introduced Eastmark to the East Valley, crafting it into Arizona’s best-selling community five years in a row, is also behind Alamar,” Bradley says. “Like Eastmark, Alamar is designed to raise the bar for master-planned communities and provide families with not only the best in modern home designs, but everything they find important in today’s new concepts of connected living.”

Master-planned luxury housing has historically flourished in the West Valley. Verrado, and sister development Victory, alongside Estrella Mountain Ranch and Vistancia, have remained lucrative residential hot spots. Housing in these communities starts in the upper $300,000 range, with Vistancia closer to mid $400,000 — a reinforcement of the rising average household income of buyers and their desire for more upscale living and amenities.

“Many C-suite and high-wealth individuals live in the West Valley,” Hoffman says, “and, it’s great to see that luxury home builders are responding to this wealth and housing demand. Many communities in the West Valley are home to average-household income exceeding $80,000 to $100,000.”

And, when it comes to amenities, both the existing and new residential master plans are more than willing to deliver.

Sterling Grove, a 780-acre master-planned neighborhood from Toll Brothers that is located west of Loop 303 in Surprise, offers homeowners access to a private country club and 18-hole Jack Nicklaus-designed golf course. The one- and two-story homes range from approximately 1,500 square feet to upwards of 4,000 square feet, with 31 designs from which to choose. Starting prices span from the mid-$300,000s to the mid-$600,000s.

While many luxury-housing options have built-in golf courses, swim parks, dining options, and more, they are also in close proximity to retail, entertainment, recreation, and a robust transportation system. From Westgate and Arrowhead to the IMS Raceway and Gila River Arena, and from the White Tank and Estrella mountains and beyond, home for West Valley residents is where the heart and happenings are.

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