The Recap

This week’s updates are packed with major developments on both sides of the Valley. In Gilbert, Dick’s Sporting Goods is bringing its high-end House of Sport concept, and in San Tan Valley, a massive new medical campus just broke ground. Meanwhile, Glendale continues to expand its sports and entertainment hub. On the real estate front, supply is outpacing demand again—especially in the more affordable ranges—shifting leverage toward buyers. Plus, don’t miss the local events happening this weekend, from reggae concerts to spring fairs.

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_{Rates vary based on credit score, loan type, and lender policies. For the most accurate estimate, consult with a lender.}

East Valley News & Developments

🏈Dick’s House of Sport Coming to Gilbert

Dick’s Sporting Goods is bringing its premium House of Sport concept to a new shopping center in Gilbert. The 119,000+ sq ft store will feature a climbing wall, golf simulator, outdoor field, and more. It’ll anchor the upcoming Signature at SanTan Village development, alongside a new Whole Foods Market—the grocer’s first Gilbert location.
📍 Williams Field Rd & SanTan Village Pkwy
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🚨State Law May Override Local Zoning for Axon HQ in Scottsdale

Arizona lawmakers are advancing a bill that could help Axon build its new headquarters campus—despite opposition from Scottsdale’s anti-apartment groups. If passed, the law would bypass certain zoning rules for international HQs, letting Axon move forward with a massive mixed-use development.
📍 Hayden Rd & Mayo Blvd, Scottsdale
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💻$296M Data Center Coming to Mesa

NTT Global Data Centers has acquired 173 acres in southeast Mesa to build a new data campus. The project will include seven data halls and a two-story office building, and it’s designed with a water-saving closed-loop cooling system.
📍 Pecos & Crismon Roads, Mesa
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🏡Terraza Medical Village Breaks Ground in San Tan Valley

Tri-City Cardiology is investing $45 million into a 5-building medical campus called Terraza Medical Village. The facility will offer centralized care and aims to become a major health hub for the far East Valley.
📍 40245 N. Gantzel Rd, San Tan Valley
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West Valley News & Developments

🏙️ Envision Encore Mixed-Use Project Proposed in Glendale

A 39-acre development called Envision Encore is in the works across from State Farm Stadium. Plans include apartments, retail, and possibly hotels. The site sits near big names like PopStroke, Top Golf, and the future Mattel Adventure Park.
📍 99th Ave & Ballpark Blvd, Glendale
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🏘️ Affordable Housing Project Moves Ahead in Surprise

Dominium is moving forward with Truman Ranch Marketplace—a 600-unit affordable housing complex that will also include senior living, retail, and self-storage. Despite initial opposition, the development is now cleared and expected to open by 2026.
📍 Cotton Ln & Waddell Rd, Surprise
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🏢 Zen@Angelina Breaks Ground in Avondale

Construction has begun on Zen@Angelina, a build-to-rent community featuring 130 townhomes with upscale finishes, garages, and pet-friendly amenities. Leasing is expected to begin in Fall 2026.
📍 Indian School & Dysart Roads, Avondale
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🏡Dream Finders Expanding West with 3 New Communities

Florida-based builder Dream Finders Homes is launching three new projects across the West Valley: Sunrise in Surprise, El Cidro in Goodyear, and Bella Vista Farms in San Tan Valley. Homes will offer modern designs and family-first features.
📍 Multiple Locations
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🏡 Real Estate Trends

🔑 Buyers Gaining the Upper Hand

The Cromford® Market Index continues its slide in favor of buyers. Over the past month, 13 of the 17 largest cities in Greater Phoenix have shifted away from sellers. Tempe, Queen Creek, and Goodyear are leading that trend. Supply has officially returned to normal levels for the first time in 14 years, and demand remains weak—about 19% below average. That means we now have 24% more homes on the market than we need.

Translation?
It’s a strong negotiating market for buyers, especially below $600K. But sellers are feeling the pressure—and the longer this trend continues, the more likely we are to see actual price drops in the months ahead.

📉 Median sales price (Feb 2025): $488,613
📈 Monthly average price per sq. ft.: $312.54
🏘️ Active listings: Up 44% year-over-year
📉 Pending sales: Down 6.4% year-over-year
💰 Price performance: Still holding—for now, thanks to luxury sales

Luxury Market Keeps Prices Afloat
While the rest of the market slows, high-end buyers are keeping things interesting. Homes over $3 million are skewing average price per square foot upwards, even as asking prices begin to dip for more typical listings.

Caution Flags Are Up

• Sellers are offering bigger concessions.

• Active listings are rising rapidly.

• Buyers are waiting for prices to fall before jumping in.

• Inventory levels—especially under $350K—are rising fast (up 70% YoY).

Unless we see a sharp drop in interest rates (still hovering around 6.75%), this could mark the start of a broader cooling trend.
Check current mortgage rates
_{Mortgage rates vary based on individual qualifications, including credit score, loan type, and lender policies. For a personalized rate estimate, it’s best to consult with a lender.}

🎉 Events Around the Valley

📍 Maricopa County Fair
Carnival rides, farm animals, live music, and more.
🗓️ April 10–14
📍 Arizona State Fairgrounds
💵 $10 admission (kids under 8 free)
🔗 More info

🎶 Reggae Rise Up Arizona
3-day outdoor music festival featuring top reggae artists.
🗓️ April 19–21
📍 Phoenix Raceway
💵 Tickets start at $65
🔗 More info

🛍️ Park West First Saturday Market
Shop local vendors, grab a bite, and enjoy live entertainment.
🗓️ Saturday, April 6
📍 Park West, Peoria
💵 Free entry
🔗 More info

🌼 El Mirage Spring Faire
Family-friendly festival with food, crafts, and games.
🗓️ Saturday, April 6
📍 Gentry Park, El Mirage
💵 Free entry
🔗 More info

🎭 El Puente Festival
Celebrate diversity through dance, music, and cultural performances.
🗓️ Sunday, April 7 | 2–6 PM
📍 Tempe Center for the Arts
💵 Free entry
🔗 More info

🏍️ Arizona Bike Week 2025
Motorcycles, concerts, and vendors all weekend long.
🗓️ April 3–7
📍 WestWorld of Scottsdale
💵 Tickets start at $15
🔗 More info

🌵See You Next Week in the Desert

Thank you for joining us this week on The Desert Real! We’re thrilled to have you as part of our growing community!

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-Brad