HOME VALUES IN ARCADIA Skyrocket year after year
ARCADIA provides some of the most consistent and highest appreciation of home values in the State of Arizona. The numbers so outpace the rest of the metro Phoenix Valley real estate market, that real estate statisticians carve out this neighborhood when analyzing the Arizona market. Arcadia definitely exists in its own unique little bubble.
“Maybe it’s time to amend the old saying, because it seems three things in life are certain: death, taxes and Arcadia home values.” – Tina Tamboer, The Cromford Report, in Phoenix Magazine 9-1-2018
There are many reasons for Arcadia’s high home values: rich history, large lots, great schools and proximity to Old Town Scottsdale, Camelback Mountain and the Canal. Arcadia is also known for its lush, green, mature landscapes dating back to its origin as irrigated citrus groves. Established in 1919 by affluent Phoenicians looking for rural estates, many second and third generation residents stay or return to raise their own children. It is for sure the most popular trick-or-treating neighborhood during Arizona’s perfect fall weather. Wine tasting block parties for the parents has become a tradition on halloween night. Wide shady streets beckon runners, dog-walkers, and bicycles. Formal Homeowner Associations are rare, but the unofficial Community Association is strong and vocal.
Arcadia is located in both Phoenix & Scottsdale
Arcadia has experienced one of the highest home value appreciations in the entire state of Arizona. Although the majority of Arcadia is in Phoenix, it borders Old Town Scottsdale and is in the Scottsdale School District. Arcadia proper is relatively small, but straddles zip codes 85251 and 85018, requiring familiarity for both statisticians and appraisers. The east border is walking distance to Old Town Scottsdale and the Scottsdale Fashion Square (Scottsdale and Camelback Roads). The northern border runs along the southern base of Camelback Mountain, ending at 44th Street. Trendy new restaurants located here include the Henry and Steak44. The south end is bordered by the Canal at Indian School, an awesome hiking/running/riding path.
The north side of Camelback Road is no longer in Arcadia proper, but includes homes on the south side of Camelback Mountain, as well as the Phoenician and Royal Palms resorts and golf course. These can provide some of the most elevated Phoenix skyline views in the Valley.
Located just 15 minutes from Phoenix Sky Harbor International Airport, Arcadia is a short walk or drive to Scottsdale Fashion Square (Scottsdale Road & Camelback, Scottsdale) and the continuous updating of Old Town Scottsdale’s most trendy clubs and restaurants. Just 15 minutes south is the Arizona State University’s main campus in Tempe, providing plenty of youth and energy. Walk to a Spring Training game, Scottsdale City Hall, the Center for Performing Arts, and hundreds of shops and art galleries. If this isn’t enough, additional shopping, restaurants and night life can be found 15 minutes in any direction, ranging from the Scottsdale Quarter, Kierland Commons, or the Biltmore Fashion Park (24th Street & Camelback, Phoenix).
The public and private schools here are some of the best in the state. The biking paths along the Arizona Canal that borders Arcadia on the south offers 35.9 miles of level, car-free riding, running or hiking. The nearest public golf course is less than a mile. And just south of Arcadia at Thomas Road is the Arizona Country Club, home to the original Phoenix Open event, and very family friendly.
Home Prices: Arcadia Proper vs Arcadia Lite
Arcadia Proper. Exeter is the most exclusive street in Arcadia, and perhaps in the State of Arizona. Lots range from $1.5 to $3 Million per acre. There are still many of the original custom homes built in the 1920s to 1950s, but there is also plenty of construction replacing those homes with new builds and remodels. Homes have outpaced the rest of the Phoenix Valley and bidding wars are common with new listings. Celebrities who have lived on Exeter include Alice Cooper and Glen Campbell, and many Valley executives reside here. Arcadia Home Search
Arcadia Lite. The appreciation has been so rapid in Arcadia proper, that the borders have been pushed to neighboring streets, now known as “Arcadia Lite.” In 2014, Money Magazine ranked it among its #2 pick on the top 10 “Best Big-City Bargains.” Homes here can range from $300,000 to older, to new or full remodels at $1Million. These homes are on far smaller lots, typically ranch style built in the 1950s and 1960s. Some of the trendiest restaurants and bars have moved into the area as well, including La Grande Orange market and Postino Winebar (40thStreet & Campbell).
The public schools here are in the Scottsdale School District and have historically had long wait lists and active parent involvement. There are also plenty of private and top rated Charter Schools in the area. School Information Link
Arcadia has been listed as a “Best Place to Live” by Money Magazine, which elaborated on the architectural diversity: “Homeowners tend to do a lot of high-end Architect-involved remodeling, adding an unparalleled diversity to the once similar-looking homes; it’s not uncommon to see a country cottage adjacent to a Spanish hacienda.” Money.com also appreciated Arcadia’s proximity to the City Centers: “Residents relish the proximity to Scottsdale’s high-end shopping, world-class resorts, arts centers and good restaurants, as well as downtown Phoenix.” There are a handful of Phoenix Architects and builders that dominate the neighborhood and are knowledgeable regarding the construction which can date back to 1919. (Ask for recommendations)
The original Arcadia development was first recorded in 1919 and marketed as irrigable citrus estates in the Phoenix suburbs. According to www.Phoenix.gov/Planning, “By dividing the Arcadia Tract into relatively large five to ten acre lots and mandating that no home could be constructed for less than $5,000 (and later $10,000), the developers were clearly attempting to attract the more affluent homeowners for the purpose of creating upper class, rural estates suburbs.” Because assembling the necessary real estate in the Valley’s relatively mature agricultural environment was difficult, only one such subdivision emerged in the central Salt River Valley: the Arcadia Subdivision. Today, Arcadia is widely diversified, with original ranch style 1950s era quality constructed homes, next to 2020 new build mansions.
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