What's Going On In Zip 85016? (the Biltmore Area)
ZIP code 85016 comprises a 10 square mile area of Northeast Phoenix. Another one of my favorite zip codes in the city due to its location to central Phoenix activities, light rail, amazing shopping at the Biltmore and Scottsdale Fashion Square, and outdoor activities with nearby Camelback Mountain, Picacho Peak and Dreamy Draw mountain reserves!
It lies between Thomas Road in the south and Phoenix Mountains Park in the north. The western boundary runs along 16th Street and the eastern boundary runs north along 32nd Street until it hits Lincoln Drive. From this point north the eastern boundary runs just west of 40th Street. It lies north of ZIP codes 85004 and 85008, with ZIP code 85014 to the west and 85018 and 85253 to the east. ZIP codes 85020 and 85028 lie to the north.
85016 includes the Biltmore district, Camelback Colonnade, Town & Country Shopping Center, Camelback Esplanade, Los Olivos Park, Biltmore Fashion Park, Granada Park, Desert Storm Park, Arizona Biltmore Golf Course, and the southern section of the Phoenix Mountains Park.
It seems as though we may see an increase in November ’09 due to the much higher number of pending sales holding this month compared to last. With a lower pricing average, which very well could be directly related to the number of pre-foreclosures in this area (20%), we may see a trend in upward advancement of purchases in the next coming months. All in all, change in this zip code isn’t all that drastic and seems to be holding steady (relatively speaking).
With the Tax Credit of $8,000 for first time home buyers (those who haven’t owned a home in the last 3 years) and the tax benefits in deducting mortgage interest, the lower housing pricing, the amount of inventory available along with the extremely low mortgage rates, now is still certainly a great time for anyone even thinking about the possibility of becoming a home owner to take it one step further and let’s start looking. Even those of you who have been thinking that you may want to upgrade, an upgrade in today’s market is relatively easy to find.
- Active Listings for October '09 - 197, down from 198 in September '09
- Listings holding Pending Sales rose to 52 for October '09, up from 41 in September '09
- Closed sales are down for the month of October '09 so far at 23 with an average of 66 days on the market, down from 36 in September '09, with an average of 154 days on the market
- Days on Market for Active Listings are up a stitch for the month of October '09 at 190 from 181 in September '09
- 20% of the total active listings are pre-foreclosures
- 11% of the total active listings are lender owned properties
- Annual Appreciation dropped a stitch in October '09 to -42% from -39% in September of '09.
Joe Janus - Architecturally Distinctive homes for sale in Phoenix, Scottsdale and Paradise Valley AZ
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