When considering buying a home or investing in real estate, there are a variety of factors that go into accurately assessing the outlook for a particular community or area. The overall forecast for the state as a whole looks great. Arizona is on track to outpace the rest of the country in terms of economic growth and real estate remains a great investment. When more closely examining the greater Phoenix metropolitan area, the Glendale AZ real estate market looks exceptionally promising in the upcoming year for multiple reasons.
Factors are contributing to increased demand in the Glendale AZ real estate market.
Average Home Prices
When compared to the average home price in Phoenix, AZ and the average home price in Peoria, AZ, Glendale AZ real estate stands out with an average price coming in around $200,000 and a price per square foot of $123—a 9% increase when compared to the same period last year. This is $15 less per square foot that the average home price in Phoenix and $5 less per square foot than neighboring Peoria. It is not hard to figure out why Glendale is the destination for upper-middle class families looking to enjoy suburban living with easy access to Phoenix proper. The average commute time for residents of Glendale is less than 20 minutes and they enjoy easy access to two major freeways.
As mentioned earlier, the overall economic forecast for the state is strong. According to the Bureau for Labor Statistics, Glendale’s current unemployment rate is a full percentage lower than the rest of the state, sitting at only 5%. While many large companies in key industries already call Glendale home, in the past year, another dozen companies have announced plans to relocate to or expand in Glendale, translating to an additional 3,300 job being added soon.
One thing is for certain here: The booming job market will result in an increased demand for Glendale, AZ real estate and these relatively low housing prices will not last long.
Glendale is an eclectic area. Regardless of your interests and living preferences, there’s sure to be a neighborhood that will satisfy your appetite. Among the top up-and-coming communities in the suburb:
Arrowhead: This neighborhood is particularly unique because of the houses surrounded by manmade lakes and beautiful mountain views. Located in North Glendale, north of the Loop 101 and south of the Thunderbird Mountain Park, Arrowhead real estate is among the most coveted in the West Valley.
Downtown Glendale: If historic homes and antique shops are your thing, be sure to check out Glendale real estate listing in the city’s downtown area. The homes in this area span the 1920s-1970s, encompassing a large range of architectural styles. Popular areas of downtown Glendale include Caitlin Court and Old Town. Check out the Cerreta Candy Company to get a tour and see Arizona’s largest chocolate heart—it’s over 300 pounds!
Westgate: This area is home to the Arizona Cardinals and the Phoenix Coyotes, which University of Phoenix Stadium and Gila River Arena anchoring the neighborhood. If sports aren’t your thing, have no worries. The Westgate Entertainment District provides numerous eateries and nightlife destinations, all with easy access to the rest of the Valley. Development in this area started fairly recently, meaning that these is a place to look if you’re in the market for new Glendale, AZ real estate.
In addition to the Arizona Cardinals and Phoenix Coyotes, the Seattle Marlins and San Diego Padres round out the city’s national professional sports teams when they make their home at a facility in Glendale during spring training.
Shopping opportunities abound: The Arrowhead Towne Center, Tanger Outlets and numerous stores throughout the city of Glendale make this a reputable destination for many of the Valley’s seasoned fashionistas.
For outdoor enthusiasts, the Adobe Dam Regional Park, Thunderbird Recreation Park, nearby Deems Hills Recreation Area and plentiful parks form an impressive and unmatched opportunity to play, no matter your sport of choice.
Glendale, AZ is also home to award-winning and A-rated school districts. Families looking to relocate with their children’s’ educations in mind will be hard-pressed to find better schools than those in North Glendale. Furthermore, for families with older children or adults looking to further their education Glendale Community College offers the opportunity to study up, close to home.
All of the things that make Glendale such a great city to live in are also working in its favor to make the Glendale AZ real estate a smart long-term investment. Real estate continues to be one of the greatest, most stable assets you can have. Why not make it a financial investment AND an investment in your quality of life?
If you are interested in investing now or just want to do some more research on the area, check out a complete list of Glendale, AZ real estate offerings currently on the market.