As a Realtor, having the opportunity to work for many clients in the Northwest Valley, it is not uncommon for me to share desirable locations by offering statistics or information for specific neighborhoods and/or ZIP codes. You can expect detailed knowledge for pin-point areas from an experienced Realtor.
However, what I don’t typically find are the clients — or prospective clients — asking about specific ZIP code and/or neighborhoods, especially when they don’t know much about Arizona.
When getting those out of state phone calls — whether it’s another agent wanting to refer a client or a future home buyer looking to move to Arizona — they are consistently inquiring about the 85383 ZIP code, and have little desire to hear about other areas. This validates that Peoria’s 85383 ZIP code has become the most desirable area to live in the Northwest Valley.
If we consider the economic strength of this ZIP code, it makes sense that there is another record year of homes listed and sold over the million-dollar price point.
Besides the great schools, amenities, and freeway access, I have one statistical data point showing the 85383 median income per household is around $140,000 annually. That is a high number.
In Scottsdale, where people inside and outside Arizona often assume the most affluent people live, my statistical data site shows under $110,000 as the median annual household income. While I would be able to pick and choose a few ZIP codes in Scottsdale or Paradise Valley that could dwarf $140,000 per annual household income, there are not many.
The 85383 ZIP code is a fantastic place for those who have the ability to afford the prices and who want to reside in an area that has been perceived by the community as “friendly” and a non-pretentious lifestyle.
The 85383 market has clearly become comfortable with homes listed at $1 million and above, and based on the number of homes that have closed in that price point over the past two years, that luxury home market has been accepted with open arms.
We will want to keep an eye on this ZIP code. I believe it is going to continue to gain momentum and strength over the next five years. The million-dollar listings are here to stay, I am certain, but it’s the $2 million and above listings that will be interesting to watch going forward.
The luxury market has made nice strides in 85383. I won’t be surprised when we check back in a few years and see record numbers of $2 million and $3 million price points, especially as our more affluent buyers continue to flock to this desirable Northwest Valley location.
Editor’s note: Rebecca Durfey is a Peoria-based Realtor with Keller Williams Realty Professional Partners.