By Catherine Reagor, Kunle Falayi | Arizona Republic
Home prices in an area of Apache Junction shot up during the second quarter of the year more than in any other metro Phoenix neighborhood, and it’s still the most affordable part of the Valley.
The Maricopa County portion of the East Valley’s 85120 ZIP code, in the shadow of the Superstition Mountains, saw an almost 125% jump in its median home price during April, May and June.
The median price in that area, where there were 18 sales, climbed to $212,500, according to the Arizona Regional Multiple Listing Service.
That’s less than half metro Phoenix’s overall median of $443,000.
Charlie Wise, co-owner of Lost Dutchman Realty, said families preapproved for FHA loans and veterans with VA mortgages have been priced out of other parts of the Valley and are coming to Apache Junction. The area has manufactured and mobile homes as well as site-built single-family houses.
