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Canadian Buyers

For Canadians, buying a home in Arizona is not only affordable but a great investment as well.  Whether you are looking to retire in Arizona or purchase a second home, Arizona provides a close getaway for Canadians. With Arizona’s warm climate, great restaurants, entertainment, and endless outdoor activities, it continues to remain a popular destination.

To get a sense of value that Canadian homebuyers can achieve in the current market, 4 years ago, the average price of a home in Phoenix was roughly $217,000, according to  As of December 2012, the average price has fallen to $150,000.  The Phoenix market has actually seen a substantial increase in values over the past 11 months, rising more than 20% but compared with just 4 years ago, we still have a long ways to go.  In addition, if we look at a more prestigious area of Phoenix, such as Scottsdale, a common and popular destinations for Canadians, the median home value 4 years ago was around $400,000.  4 years later, we are just under $310,000; 22% down from where we were in 2008.  Another piece of data to consider when assessing value is to look at the square footage cost.  When we look at Scottsdale again for the average price per square foot, prices are currently hovering around $160.  Comparing that to the average price per square foot in major cities throughout Canada like Toronto, Vancouver, or Calgary, it’s not uncommon for square foot costs to be double or even triple what Scottsdale currently offers.  So not only are prices much more affordable than they were 4 years ago, but Canadian buyers coming from major cities, can expect to see huge difference in the size of home their money can buy in Arizona versus Canada.

With that being said, home values in Phoenix and Scottsdale are on the rise and data indicates values will continue on this path for years to come.  As a result, it truly is a great time to buy if you’re looking for an investment property or residence in the Arizona.

At the Marsh Partners, we specialize in helping our Canadian clients find homes that suit their lifestyle and needs.  Our team can be a valuable resource if you are looking to purchase a home so please click here if you would like one of our team members to contact you now.

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