Phoenix's Hottest Housing Markets: Glendale, Midtown/Uptown, and Deer Valley Lead the Surge

by Jeff Hernandez

The Phoenix metropolitan area has experienced notable shifts in its housing market, with certain neighborhoods emerging as hotspots for real estate activity. According to recent data from Phoenix REALTORS, specific zip codes have seen significant increases in closed single-family home transactions, indicating robust demand and growth.

Top Performing Neighborhoods in Metro Phoenix

Glendale (Zip Code 85303)
Closed Transactions Increase: 50.8% in 2024
Central Glendale's 85303 zip code leads the pack with a remarkable 50.8% rise in closed transactions. This surge is attributed to new employment opportunities and developments attracting buyers to the area.
Midtown and Uptown Phoenix
Closed Transactions Increase: 35.3% in 2024
These central Phoenix neighborhoods have experienced a 35.3% uptick in sales, reflecting a growing interest in urban living and revitalized communities.
West Deer Valley Area
Closed Transactions Increase: 23.1% in 2024
The West Deer Valley region has seen a 23.1% increase in closed transactions, bolstered by the development of the Taiwan Semiconductor Manufacturing Company (TSMC) facilities and supporting industries.

Factors Driving Growth in These Markets

Economic Development: The introduction of major employers, such as TSMC, has spurred job growth, making nearby neighborhoods more attractive to homebuyers.
Urban Revitalization: Midtown and Uptown Phoenix have benefited from urban renewal projects, enhancing their appeal to those seeking vibrant city living.
Increased Inventory: A 3.7-month housing inventory at the start of 2025, up from previous years, offers buyers more options and has stimulated market activity.

Implications for Buyers and Sellers

For Buyers: The increased inventory provides more choices, but heightened demand in these hotspots may lead to competitive bidding. Acting swiftly and securing financing pre-approval is advisable.
For Sellers: Rising transaction volumes and price appreciation present opportunities to capitalize on favorable market conditions. Proper pricing and strategic marketing are key to maximizing returns.

Conclusion

The Phoenix housing market's dynamism, particularly in Glendale's 85303, Midtown/Uptown Phoenix, and West Deer Valley, underscores the region's economic vitality and residential appeal. Staying informed about these trends is essential for making strategic real estate decisions in this evolving landscape.

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