North to South Migration in the Valley and Downsizing Trends

Posted on Posted in Market Update

As the market for golf community properties in Northern Scottsdale has improved, many of these Sellers relocate closer to downtown Phoenix and Scottsdale. Urban living in high rise condominiums, such as Kierland, is very popular as are new communities like Mountain Shadows and around the planned Ritz Carleton Hotel in Paradise Valley. Many more gravitate to down Valley golf communities like DC Ranch and Silverleaf. Record prices for resales have occurred in both golf communities. Others want to be closer to cultural activities, stores and schools. We expect this trend to continue as the baby boomers decide to migrate and downsize. FireRock should get its fair share of such migration, but has not done so as of this date.

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