Canadians represent 4% of buyers
Hi,
Arizona and more specifically the Phoenix/Scottsdale area has long been a great winter destination for residents of colder climates. This includes many people who come here and rent a property for a short term or all winter as well as the thousands of tourists that occupy our hotel rooms.
This has also included many people who purchase a 2nd home to be used as a winter get away. In 2003, before the boom in our market, Canadians represented less than half of 1% of buyers. Now, due to the relative parity of the monetary exchange and our low prices due to the bust, Canadians represent approximately 4% of all buyers. That's a ten fold increase. Currently, according to tax records in Maricopa County, there are over 11,000 residences with tax mailing addresses in Canada. Since some buyers use the local address for tax purposes, or even another US address, the number of residences owned by Canadians is surely higher. Keep in mind that these numbers are only Maricopa County, so other areas within the Phoenix metro that are popular for winter visitors, such as San Tan Valley and Maricopa, which are in Pinal County, aren't included in those numbers.
The make up of the Canadian demographic certainly spreads across the entire spectrum. Of course, not all of these properties are second homes, many are investmens, but they include all areas of the Valley. From Scottsdale to Surprise, Buckey to Queen Creek, you will find all cities and zip codes represented. The highest concetrations are found in Scottsdale, Mesa, Sun City, but there are many very popular areas, including some age restricted communities in Chandler and Goodyear. But don't think it's all about the age restricted communities. Properties are purchase all over. Price also range widely from below $100K to well over $1M.
So, where are the Canadians coming from? The highest percentage are coming from Alberta, followed by British Columbia,Ontario, and Saskatchewan. While all the provinces are represented, the numbers are much lower than these four.
Keep in mind that this data is only Canadians. Don't forget there are many northern states well represent he in the Valley of the Sun as well. So, why do they come. The obvious reason is our climate. Today we have a forecast high of 80 degress F (the normal high is 66F). How can you not like this! I went for a hike yesterday on Pinnacle Peak and the weather was absolutely glorious!. Climate isn't the only draw though. As everyone knows, real estate has taken a beating nationwide over the past few years and the Phoenix area has been one of the hardest hit. So there are some real good values out there in the market right now. Many properties are getting multiple offers and the market is quite competitive in many categories.
So, if you wonder why we see so many Canadian license plates on our roads this time of year, maybe it's a little more clear why.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374
adam@WeAreAZRealEstate.com
Resort and Second-Home Property Specialist (RSPS),
ABR,CDPE,CNE,SFR
Arizona and more specifically the Phoenix/Scottsdale area has long been a great winter destination for residents of colder climates. This includes many people who come here and rent a property for a short term or all winter as well as the thousands of tourists that occupy our hotel rooms.
This has also included many people who purchase a 2nd home to be used as a winter get away. In 2003, before the boom in our market, Canadians represented less than half of 1% of buyers. Now, due to the relative parity of the monetary exchange and our low prices due to the bust, Canadians represent approximately 4% of all buyers. That's a ten fold increase. Currently, according to tax records in Maricopa County, there are over 11,000 residences with tax mailing addresses in Canada. Since some buyers use the local address for tax purposes, or even another US address, the number of residences owned by Canadians is surely higher. Keep in mind that these numbers are only Maricopa County, so other areas within the Phoenix metro that are popular for winter visitors, such as San Tan Valley and Maricopa, which are in Pinal County, aren't included in those numbers.
The make up of the Canadian demographic certainly spreads across the entire spectrum. Of course, not all of these properties are second homes, many are investmens, but they include all areas of the Valley. From Scottsdale to Surprise, Buckey to Queen Creek, you will find all cities and zip codes represented. The highest concetrations are found in Scottsdale, Mesa, Sun City, but there are many very popular areas, including some age restricted communities in Chandler and Goodyear. But don't think it's all about the age restricted communities. Properties are purchase all over. Price also range widely from below $100K to well over $1M.
So, where are the Canadians coming from? The highest percentage are coming from Alberta, followed by British Columbia,Ontario, and Saskatchewan. While all the provinces are represented, the numbers are much lower than these four.
Keep in mind that this data is only Canadians. Don't forget there are many northern states well represent he in the Valley of the Sun as well. So, why do they come. The obvious reason is our climate. Today we have a forecast high of 80 degress F (the normal high is 66F). How can you not like this! I went for a hike yesterday on Pinnacle Peak and the weather was absolutely glorious!. Climate isn't the only draw though. As everyone knows, real estate has taken a beating nationwide over the past few years and the Phoenix area has been one of the hardest hit. So there are some real good values out there in the market right now. Many properties are getting multiple offers and the market is quite competitive in many categories.
So, if you wonder why we see so many Canadian license plates on our roads this time of year, maybe it's a little more clear why.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374
adam@WeAreAZRealEstate.com
Resort and Second-Home Property Specialist (RSPS),
ABR,CDPE,CNE,SFR