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Where is the Valley’s next hot housing submarket with ‘Fixer Upper’ type renovations, rebuilds?

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By Mike Sunnucks | Phoenix Business Journal

The affluent Arcadia area has been one of the Phoenix real estate market’s top performers since the last crash.

In 2009, the price per square foot for homes in Arcadia ­— centered around 44th Street and Indian School Road — was just under $238 per foot according to The Karas Group at Launch Real Estate.

Now, Arcadia homes are now selling for more than $370 per foot, according to Karas.

So where might by the next hot housing market in metro Phoenix. Chris Karas, president and founder of Karas Group, pegs McCormick Ranch in Scottsdale as potentially the next submarket to take off locally.

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