Investment Properties in the Phoenix-Mesa Metro Area
Market Update: 2nd QTR 2018
It has been an incredible second quarter in the Arizona Multi Family Sector. Inventory remains tight and properties are selling at 98% of offer price. The Investment Property market in Maricopa County saw 227 multi-family transactions in AZ MLS totaling $92,035,707 in sales during the second quarter. Broken down by City, Phoenix had 130 sales; $53,875,398, followed by 52 in Mesa, $16,560,830, 9 in Glendale; $3,242,899, 9 in Tempe; $5,658,650 and 11 in Scottsdale; $8,057,500, 2 in Fountain Hills; $785,000 the remaining 14 properties in the far West Valley cities of Goodyear, Avondale, Buckeye, El Mirage, Surprise and Litchfld Park. Pinal County is also experiencing growth in the multi family sector as investors are moving outside Maricopa County. There were 14 sales in Pinal County totaling $2,131,455.
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