2020 Real Estate Market Update Phoenix

Phoenix  Real  Estate  Market  Update  – First  Half  2020

Who could have predicted such a crazy six months as we’ve seen in the first half of 2020.  COVID-19 has made everyone sit back and wonder if there is any normalcy left in the world.  The pandemic and the associated events have left many wondering how the real estate market has fared.  That’s what we’re going to look at in this Phoenix real estate market update for the 1st half of the year.  If you are curious, click to  find out.

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The Islands Lake Community in Gilbert- Watertfront Homes

Waterfront Communities in The Islands

The Islands consists of three separate man made lakes that are boat friendly with over 400 single family home lakeside lots.  For those who enjoy the waterways, any three of the lakes provide over 1/2 mile of boating.  Many homes are located on lots where the opposite shore is over 200 feet.  The location of The Islands is equidistant between the US60, the 202, and the 101 freeways so getting around to any part of Phoenix is not a problem.  The Islands lake community cover 2.5 square miles, so you’re bound to find a house that is just right.

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Things to do in Gilbert, Az.

 Gilbert – A popular east valley community

Gilbert is known for many things.  A safe community with a family friendly atmosphere.  A  great place to raise children with a high quality of life.  A growing community with  highly rated schools.  Good freeway access to Phoenix and surrounding areas.  Affordable homes including waterfront and lake communities and award winning hospitals.   All in all, Gilbert is one of the most desireable towns in the Phoenix valley.   For a sample of some of the things that make Gilbert such a popluar community, read on.

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Not all Phoenix suburbs are recovering the same

 

Phoenix area cities have different recovery patterns

The graph to the left shows the the monthly price per square foot of sales for the last 10 years for Gilbert and Chandler.  A good opportunity to see where we are compared to pre-bubble sales activity.   The twin cities of Gibert and Chandler have similar trends for the last 10 years.   Current price per square foot is similar to 1993 levels.  Do other Phoenix area cities have similar patterns?

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