Arcadia Is a Luxury Rental Hot Spot for Residents & High-end Investors
The easiest way to identify Arcadia on the map is to look for the iconic Camelback Mountain and the Arizona Canal. The Arcadia community weaves in and out of these stunning natural wonders. It also shares borders with other popular and affluent areas, like Old Town Scottsdale, Paradise Valley and Biltmore Phoenix.
Some Arcadia Area Highlights
Needless to say, the striking landscape is one of the area’s biggest draws for current and prospective residents. Here are some other unique draws to this area.
- Breathtaking Camelback Mountain views
- Access to the Arizona Canal, a historic waterway that still runs today
- Charming walking, running and biking paths that feed this active community
- An abundance of citrus trees and greenery
- Historic neighborhoods with retrofitted homes & buildings
- Some of the largest (and rarest) lots in Phoenix
- Trendy local restaurants & businesses
- A bike-friendly community & small-town culture
- Some of the Valley’s top schools
- Close, easy access to Central & Downtown Phoenix
- Extremely walkable and provides easy access to travel throughout the city.
3 Arcadia Neighborhoods to Know
- Arcadia Proper: This is also known as the heart of the Arcadia community. The neighborhood is from Indian School Road to Camelback Road and between 44th and 68th Street. In 2017, average home values here were $1.5 million and quickly go up from there. There are very few parcels available in this area. Here are some of the last few lots in Arcadia with land to build and luxury home plans to match.
- Arcadia Lite: This quickly rising community is found from Indian School Road to Camelback Road and between 32nd and 44th Street. It’s known for many things, including some of the hottest local restaurants. Chelsea’s Kitchen, Postino and La Grande Orange to name a few. The average home price continues to rise – with home values in 2017 in the $600,000 – $2 million+.
- Lower Arcadia: This is a growing area of Arcadia, found south of Indian School Road to Thomas Road and between 44th and 56th Streets. Properties start in the $300,000 range and are currently moving above $800,000. Investors will find great returns here, in particular, with values quickly rising to those of other Arcadia neighborhoods.
The Arcadia Audience
Arcadia has attracted affluent homebuyers and residents since its earliest beginnings. It continues to be a top real estate market among millennials, young families, affluent audiences, and those seeking highly strategic investment properties.
Arcadia Real Estate By The Numbers
In 2017, here’s what the MLS showed in this luxury market.
- Median sales price: $655,000. This is up 22.4% from 2016. (December 2017)
- Median days on market: 61 days (December 2017)
- Average sales price: $1,520,757 (Arcadia Proper, April-June 2017)
- Average price per foot Ft – $391/ft (Arcadia Proper, April-June 2017)
Arcadia has been a valuable Phoenix real estate for more than a century. And its poised to rise more and more in today’s market. Arcadia continues to prove itself as one of the best places to live in Arizona — not to mention, one of the best places to invest in luxury property.
The Mackey Martin Group specializes in luxury real estate in Arcadia, Arizona. Get more value and return on your real estate investment, learn more about our luxury property management services.