The next hot place to live in the valley is South Phoenix.
“For the fourth year in a row now, Maricopa County has been the fastest growing county in the U.S.,” said Thomas Maynard, the vice president of Business Development of the Greater Phoenix Economic Council, GPEC.
According to restate experts, the current market isn’t a “housing boom,” but South Phoenix is growing the fastest.
“I would say the south Phoenix area is definitely an up and coming market,” said Maynard. The area has been avoided by homeowners but not anymore. Maracay Home Builders agree.
“At Maracay, we’re huge believers in this South Mountain area as evidence of what we’re doing here at Avance,” said Andy Warren, the president of Maracay Home and the chairman of the board of GPEC.
He’s betting millions that the area is the new place to be. He’s building Avance. Avance is a premier community with about 400 homes.
“We’ve been saying that if this was in a location like Scottsdale or something like that, you’d have to put another digit on the price points at least so there’s no question it’s a hidden gem,” said Warren.
Warren and Maynard say the area will only get better with the light rail and the Loop 202.
“People don’t want to live a hour’s drive whether it’s east or north or west. And they say, ‘Wait, what kind of alternatives do we have closer in?’ and all of a sudden a South Mountain area is a place that gets rediscovered,” said Warren.
The beauty of the area is also a draw.
“Once people get down here, they realize they’re sitting on the foothills of South Mountain. You might as well be sitting in the foothills of Camelback Mountain just at a much lower price point,” said Maynard.
“The fact that we’re right up against South Mountain Park, 16,000 acres, the largest urban park of the urban universe,” said Warren.
Businesses and developers are coming to the area too.
“It’s no secret they know this is going to be a high-growth area in the Phoenix metropolitan area so they want to be the first ones in ’cause that’s gonna be valuable real estate here pretty soon,” said Maynard.
The new homes in Avance will be in the mid-$300,000s up to the mid-$600,000s.
