SAAR Serves 3 of Top 10 Cities with Highest Escrow Prices

By Angela Gonzales | Phoenix Business Journal

It’s no surprise the region’s highest-priced homes are in the East Valley, but a couple of cities in the West Valley are among those with the highest escrow closing prices.

RL Brown, founder of HomeBuilders Marketing Inc., identified the top 10 metro Phoenix cities with the highest escrow prices in August.

The cities where there is little difference between the average new home escrow closing price and the resale price often are cities where more of the housing stock is newer — where resale prices are more comparable with new home prices, Brown said.

In Cave Creek, a new home can be purchased for less money than a resale home, according to Brown’s findings.

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