If you’re looking for a house, condo or apartment in NoPho — the North Phoenix I-17 corridor between Norterra and New River — you’ve found the best site to begin your journey. We’ve done extensive research to provide exclusive, detailed, independent information on the region’s neighborhoods, schools, services and attractions, not to mention the wonderful climate — everything you need know about the North Phoenix real estate market and make a smart decision on your next home. See general information about NoPho below, or hop straight to the latest real estate data:
March 2019 Home Sales
The number of existing homes sold in NoPho, the I-17 corridor from Norterra to New River, declined across all five zones in March. Total sales were 167, compared to 208 last March. However, for the first three months of this year, total sales are just 4 percent lower than the same period last year, and buyer interest remained strong, especially for lower-priced homes that are frequently going under contract in a matter of days.
The recent, surprising drop in interest rates also has buyers excited.
Sale prices were a mixed bag, yet price per square foot held steady or rose across all zones. Meanwhile, inventory was flat or rose across the region, yet remains in seller’s-market territory, below the 6-month threshold.
For the most recent month reported nationally, home sales volume was down 1.8 percent in February compared to the year prior, and prices continued an 84-month upward trend with an average sales price of $249,500, 3.6 percent above February 2018.
(Note that figures can be skewed by a handful of sales in a zone, given the relatively small number of monthly sales.)
Get Details on Each Zone
See Definitions of Terms below.
2018: Year in Review
This exclusive report on NoPho real estate trends and statistics is provided in cooperation with In&Out Magazine and is updated monthly. Click links below for exclusive analysis of each NoPho zone (zone map below).
Total existing home sales for 2018 were down 2.2 percent to 1,869, compared to 1,911 in 2017, across NoPho, the I-17 corridor from Norterra to New River. However, the still-robust sales drove down inventory across all five zones, and average sales prices and price per square foot both trended upward across all zones (see “Details on Each Zone” below).
Monthly Real Estate Watch: December 2018
The market remained busy in December, with 127 total NoPho sales, up from 122 the previous December.
The local market’s resilience is in stark contrast to the national picture. Year-over-year U.S. existing-home sales fell 7 percent in November, the most recent month reported, while sales dropped 15.4 percent in the West. Early indications (pending home sales) suggest December would remain soft nationwide.
A analysis by Trulia in November predicted the hot housing markets in Silicon Valley and other Western coastal cities will cool in 2019, but Phoenix will remain a hot spot due to growth in jobs and population and comparably affordable home prices. It’s too early to know if things will in fact unfold that way, but date released since that prediction aligns with it. — Robert Roy Britt
2017 Year-End Overview
Average prices for existing homes in North Phoenix ended 2017 higher than the year prior across four of the five NoPho zones, reflecting a nationwide trend of rising prices. The price per square foot was higher in all five zones.
About This Data
Real estate sales data is from the Arizona Regional Multiple Listing Service and, while not guaranteed, is believed to be accurate.
Average Price of Homes Sold can be skewed by the sale of a single home that is priced well above or below other homes that have sold.
Pricing per Square Foot of any individual house can vary greatly depending on many factors, including location, upgrades and condition of the property.
Sales Activity represents the number of homes that have closed escrow in the given time period.
Inventory represents the number of months it would take to sell all the homes currently listed based on average rate of sales during the previous 6 months, and presuming no additional homes are listed. Less than 6 months is considered a “seller’s market.” As inventory goes down, look for prices to move up. More than 6 months is considered a “buyer’s market.” As inventory goes up, prices will trend down.
- Interactive North Phoenix Map: Find all neighborhoods, schools, shopping centers, places to hike, libraries, hospitals and more.
- Real Estate News: New and soon-to-come subdivisions and retail centers, plus the latest on the housing market.
NoPho is a specific area within North Phoenix along I-17 [see NoPho Definition and map]. It is a great place to live, work and play. The commute is easy to Scottsdale, Glendale and Central Phoenix. Yet being on the northern fringe of the metro area, its a short hop to Prescott, Sedona and Flagstaff.
And there’s plenty to do right here. There are several mountain preserves in the region, all just a few minutes drive from any NoPho neighborhood, offering endless miles of hiking, biking and horseback riding. Lake Pleasant, just 20 minutes from the intersection of I-17 and the Carefree Highway, has two marinas from which you can sail, ski, kayak, fish, or do whatever it is the kids do these days.
Speaking of kids: You’ll be hard-pressed to find an area with more choices in schools, including some that tout top scores on statewide tests. School Information Guide >>>
Looking for a home? You’ll find gated and non-gated communities, humble one-story abodes, huge two-story houses, chic patio homes with an urban flair, low-maintenance condos, and sprawling desert territorials. You’ll find numerous neighborhoods with homes that have stunning desert and mountain views. Want a pool? There are lots of them. Looking for tennis, golf, hiking trails or other community amenities? We’ll arm you with that information. Neighborhood Information Guide >>>
If you don’t find what you’re looking for, or have a question or comment, please let us know.
Meanwhile, some images of the places we call home: