Arizona Real Estate and the Zillow List of “Million-Dollar Cities!”
According to the Zillow Group, this weeks report states that the number of million-dollar cities across the U.S. surged this year as they released their annual list of “Million Dollar Cities”
- There are now 312 U.S. cities with a typical home value of at least $1 million
- More than 70 percent of the million-dollar cities are concentrated in nine coastal metro areas, primarily San Francisco, New York and Los Angeles
- In 2020, home prices increased in all price ranges across most of the U.S. as a result of a recent increase in housing demand
So what about Arizona and its Top 5?
One city in the Phoenix metro area made the list; Paradise Valley with an average home value of a cool $2.09 million.
The rest of the Top 5 cities in Arizona are listed below with their typical home values:
- #2) Carefree at $868,000
- #3) Fort McDowell at $731,478
- #4) Cave Creek at $661,509
- #5) Rio Verde at $571,730
For the record, Scottsdale was just nudged off the Top 5 by Rio Verde, coming in at $556,939
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