Study Puts Value on Mountainside Living in Valley

Does living near a mountain really add value to one’s home? During a recent study conducted by The Hill Group of Coldwell Banker Residential Brokerage, the team set out to calculate average values of home sales based on various elevations among nine mountains in the greater Phoenix area: Camelback Mountain, Mummy Mountain, Piestewa Peak, South Mountain, Red Mountain, Black Mountain, Scottsdale Mountain, McDowell Mountain and Pinnacle Peak.

“I learned very early on as an agent that mountains matter to both buyers and sellers, especially in the greater Phoenix area,” says Kirsten Hill, co-founder of The Hill Group, in a press release. “But the big question that has always remained is how much value does a mountain add to a home? Having a higher elevation (and better views) can make a big difference, as can the location of the mountain and what neighborhoods and attractions surround it. This study takes all of those factors into account and puts a number on the top nine mountains in the area.”

Below are the group’s findings:

Camelback Mountain (elevation: 2,707 ft)

On the mountain: $1,701,971

Off the mountain: $1,160,758

Mummy Mountain (elevation: 2,264 ft)

On the mountain: $1,881,901

Off the mountain: $1,670,106

Piestewa Peak (elevation: 2,612 ft)

On the mountain: $945,457

Off the mountain: $885,838

South Mountain (elevation 2,690 ft)

On the mountain: $316,684

Off the mountain: $252,188

Red Mountain (elevation: 2,832 ft)

On the mountain: $376,676

Off the mountain: $322,708

Black Mountain (elevation: 3,403 ft)

On the mountain: $736,605

Off the mountain: $493,415

Scottsdale Mountain (elevation: 4,057 ft)

On the mountain: $754,209

Off the mountain: $492,374

McDowell Mountain (elevation: 4,057 ft)

On the mountain: $1,368,790

Off the mountain: $747,203

Pictured: Pinnacle Peak (elevation: 3,173 ft)

On the mountain: $1,591,693

Off the mountain: $1,152,191

To view the full study and findings from each mountain, visit www.WhatsThatMountainWorth.com.

 

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