The Arcadia neighborhood is booming and so are the prices of prime lots in Arcadia. The average price for a half acre lot in Arcadia Proper is now around $850,000-$950,000 depending on the location. What makes it even tougher to find good lots for sale in Arcadia is that most of the good deals are picked off before they hit the market. I documented what is taking place in the neighborhood here.
While Arcadia lot prices are high right now, there are many benefits to building a new home. First off, you will be able to customize all of the finishes to your tastes. This alone is why some people prefer to build new rather than purchasing an existing home. You will also incur fewer costs because new homes are more efficient and require less repairs. Last but not least, building a home allows you to create much more upside because of the sweat equity (assuming you stay within budget). When it comes time to sell you can bet there will be more people looking at your home than the old home across the street.
Keep these points in mind when you are deciding whether to buy an existing home or build your own. If you would like me to find you lots for sale in Arcadia or have any other Arcadia real estate needs, please call me at 602-ARCADIA. I would love to help you find the perfect Arcadia lot!