The Northeast Valley is often referred to as zip codes and when talking to fellow locals the question is always asked... which zip code do you live in?   The housing bubble of the 2,000's had a field day with the Northeast Valley zip codes and wreaked havoc on home values.  As we slowly find our way coming out of the bubble a handful of zip codes are performing better than others!  Michael Orr of The Cromford Report said it best:

"It is interesting to see which zip codes have moved closest to the peak prices during the housing bubble. Most are still a substantial way below those maximum prices. However the variation among the zip codes is quite noticeable.  South Scottsdale and Old Town Scottsdale are clearly the top performers in this group and beat any area from the West Valley or Central & North Valley that we examined in this snapshot."

The percentage in the table below is comparing the current average $/SF for single family homes compared to the average of the mid 2000's:

Scottsdale 

85251 -2%

85257 -8%

85250 -15%

85255 -15%

85258 -20%

85254 -21%

85260 -24%

85259 -27%

85262 -28%

85266 -31%

Fountain Hills 

85268 -26%

Carefree 

85377 -26%

Cave Creek 

85331 -27%

Paradise Valley 

-29%

Rio Verde 

85263 -36%