Which ZIP codes had home price hikes?

Top neighborhoods for rising home prices

Home prices are climbing again in many metro Phoenix neighborhoods despite higher interest rates.

Most Valley ZIP codes saw home prices increase during the first quarter of this year, compared to the same three months in 2023.

And median home prices in about 20 Phoenix areas jumped by double digits, according to the Arizona Multiple Listing Service.

“Some signs (for the housing market) are starting to look slightly positive,” said Mike Orr, founder of The Cromford Report. “Pricing is the brightest spot for sellers.”

Metro Phoenix’s median price ticked up in April and is expected to be flat in May.

The Phoenix-area neighborhoods that posted the biggest price increases span from Apache Junction across central Phoenix, north to Scottsdale and Fountain Hills and west to Glendale.

The areas with the biggest median home price decreases span from south Scottsdale and Paradise Valley, to Mesa and Tempe in the East Valley and Surprise in the West Valley.

Here’s a rundown of the top 10 metro Phoenix ZIP codes for increases in median home prices during the year, ending March 31.

Home prices shot up in the Apache Junction ZIP code 85120 by 141% to $228,500, which is still very affordable compared to the Valley’s overall median price of $450,000.

The west central Phoenix neighborhood of ZIP 85021 saw its median soar 38% to $480,000.

Downtown Phoenix ZIP 85004 had a 33% home price jump to $525,000.

The 85003 area in central Phoenix posted a 31% jump to a $740,000 median.

In the north Phoenix area ZIP spanning Phoenix and Scottsdale, the price climbed 29% to $824,535.

Central Phoenix’s 85013 area saw its median rise by 23% to $524,000.

85012 in north-central Phoenix also posted a 23% increase in its median to $500,000.

Fountain Hills ZIP 85268 had a 20% price gain to $710,000.

In the northeast Phoenix area 85050, the median grew by 19% to $591,125.

And east Glendale ZIP 85303 saw

prices rise 18% to $430,000.

Top neighborhoods for falling home prices

South Scottsdale’s 85251 area had the biggest drop in its median, which fell 15% to $455,000.

In Wickenburg’s 85390, prices dropped 13% to $425,000.

Paradise Valley’s median price in 85253 sagged 13% to $2.62 million.

85377 in Carefree saw an 11% drop in its median to $975,000.

The central Phoenix area 85007 had a 10% decline to $433,000.

Located in central Mesa, the 85210 ZIP experienced a 9% price slide to $315,000.

South Tempe’s 85284 area saw an 8% drop to a median of $577,000.

The 85355 ZIP in Surprise and Waddell had an 8% dip to $439,000.

The median price across Surprise’s 85378 saw an 8% decline to $329,000.

And in central Phoenix’s 85006 area, prices slipped 7% to $435,000.