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Zip Codes Making Headlines

Oct. 10, 2007 03:09 PM

Scottsdale - Zip Code 85262

This upscale north Scottsdale ZIP code posted the third-biggest increase in the Valley. The area is second only to Paradise Valley for metropolitan Phoenix's priciest homes.

The increase: The ZIP posted a 13 percent increase in median home prices this year. Most of the price increase came from existing home sales in golf communities such as DC Ranch. And while prices climbed here, Paradise Valley experienced a 5.6 percent drop.

Median price: The jump pushed the median home price above $1 million for the first time.

The ZIP code, north of Bell Road next to the McDowell Mountains, had fewer than 50 new homes go up. The Loop 101 has helped this neighborhood as well as the rest of north Scottsdale grow.

Communities in this ZIP code draw second-home buyers as well as Valley executives. Several big firms have moved their corporate headquarters to the Scottsdale Airpark during the past few years.

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Phoenix - 85021

This area offers some of the most affordable, bigger homes in central Phoenix and includes some of the newest historic neighborhoods.

The increase: The ZIP code, west of Seventh Avenue between Camelback and Glendale roads, saw the median home price climb 16 percent this year. That is the highest rate of any Phoenix neighborhood.

Median price: The area's median home price was $237,000 at the end of 2006, $25,000 below the Valley's median. The typical median home price has climbed to $275,000 in the ZIP this year.

Light rail is under construction next to parts of this neighborhood, which could be drawing some buyers.

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