Buyers could've purchased homes in the $40,000 range when the housing crash hit rock bottom in 2011.
Here are the five metro Phoenix neighborhoods posting the biggest percentage point increases in median home values since then, according to The Arizona Republic’s Street Scout Home Values.
The Street Scout data comes from The Information Market, owned by the Arizona Regional Multiple Listing Service.
Most of these neighborhoods are some of the Valley’s most affordable and saw home prices fall the most during the real-estate bust. All are closer in and drawing buyers, investors and flippers.
Home prices in this neighborhood on the southern end of west Phoenix's Maryvale community have soared 330 percent since 2011.
The median home price in the community along Interstate 10 hit $171,800 at the end of 2018, up from $40,000 during the crash.
The Valley’s median home price is nearly $100,000 more at $268,000.
Home prices in this central Maryvale neighborhood jumped 325 percent to $170,000 at the end of 2018.
The median home price in this neighborhood with mostly block homes and carports fell to $40,000 during the crash.
SEE OUR DATABASE: Home values in metro Phoenix: See how your ZIP code fares
The western end of Maryvale also made the list of biggest price increases since the housing crash. The median in this area has climbed 305 percent to $174,250.
The median for the neighborhoods of smaller block homes plummeted to $43,000 in 2011.
Home prices in his neighborhood where growing Grand Canyon University is located are up 302 percent since 2011. The area’s median has climbed from $41,000 during the crash to $165,000 at the end of 2018.
Neighborhoods around the university are being revitalized by its growth. The 85017 area also is among the five most affordable ZIP codes in metro Phoenix.
RELATED: 5 neighborhoods that offer the best value for first-time homebuyers
This central Phoenix neighborhood, home to the Coronado and Garfield historic neighborhoods, has seen home prices soar 298 percent since the crash.
The area’s median price has climbed from $63,000 in 2011 to $251,000 at the end of 2018.
Renovation dumpsters in front of smaller Spanish-hacienda and bungalow style homes have been the norm in this neighborhood. But it’s getting harder to find affordable fixer-uppers here.
MORE ON STREET SCOUT HOME VALUES:
Reach the reporter at [email protected] or 602-444-8040. Follow her on Twitter @Catherinereagor.
Support local journalism. Subscribe to azcentral today.
