Investment Properties in the Phoenix-Mesa Metro Area
Market Update: 2018
It has been an incredible first quarter in the Arizona Multi Family Sector. Inventory remains tight and properties are selling at 97% of offer price. The Investment Property market in Maricopa County saw 152 multi-family transactions in AZ MLS totaling $67,915,150 in sales during the first quarter. Broken down by City, Phoenix had 94 sales; $45,013,200, followed by 30 in Mesa, $9,538,650, 7 in Glendale; $1,639,800, 7 in Tempe; $3,723,000 and 3 in Scottsdale; $2,410,000, 2 in Fountain Hills; $895,000 the remaining 9 properties in the far West Valley cities of Goodyear, Avondale, Buckeye, El Mirage and Litchfld Park. Pinal County is also experiencing growth in the multi family sector as investors are moving outside Maricopa County. There were 17 sales in Pinal County totaling $3,271,000.
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