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.
