Sun City West 85375
Sun City West and it’s neighboring zip code immediately to the south, Surprise 85374, had pretty much identical costs per square foot of single family homes sold from 2000 to 2004. Today, however, the difference is about $25 per square foot.
That’s not so bad because in 2009 the difference was about $40 per square foot.
My conclusion is that, from 2009 on, those low prices in Surprise 85374 have been pulling down the median home price per square foot next door in Sun City West 85375.
I also expect that the median home price per square foot in Sun City West 85375 will continue to be pulled down until the prices in Sun City West 85375 gets closer to their traditional relationship to home prices in 85374 and surrounding areas.
Click on chart to see a larger version.
Tempe (ASU area) 85281
Looking at the historical data, the median price per square foot in Tempe 85281 (northern Tempe, including ASU) traditionally ran about $15 per square foot more than in Mesa 85201, the zip code next door.
Today the difference is running about $25 per square foot (in 2009 the difference was around $40 a square foot).
That historically large difference in prices makes me think that the median home price per square foot in Tempe 85281 is more likely to fall than in most zip codes in metro Phoenix.
Click on chart to see a larger version.
