Earlier in the summer we looked at Peoria, and how different the pricing was for each of the zip codes (Peoria Highlights the Pricing Trend). The chart showed how homes in 85383 in North Peoria were much more expensive than homes in 85381 in South Peoria, while homes in 85382 (in the middle) were priced in the middle.
Based on that information, I was surprised to see how closely the $/sqft numbers are bunched together. Yes, 85381 is usually the lowest priced, but not always. And the other two seem to flip-flop every other month. But by and large, all 3 zip codes’ pricing tends to stay within about $10/sqft of each other.
This means the primary driver for the differing prices between the zip codes must be the size of the houses: the south end of the city has smaller (and older) homes, while the north end of the city has more large (and newer) homes.
I wonder if this pricing idiosyncrasy appears in other parts of the Valley? I’ll look into it in the coming months…
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.