The Condo Mania Team
Phoenix Condo ManiaNews > First Quarter 2014 Phoenix Condo Sales - late inning pick-up
by Liz Suto
Phoenix condo sales had a late inning pick up in March, which saved the quarter. January and February sales volume were some of the lowest we've seen in several years. March sales came roaring in (we'll join the pundits saying it was a side effect of the COLD WINTER BACK EAST). Here are some additional statistics for Phoenix condos for sale. All statistics are based on sales for condos, townhomes and lofts.
Even though March was strong, Phoenix had a definite decrease in resale activity in the 1st quarter, with 685 sold compared to 760 in 2013 during the same period. This represents a drop of nearly 9.9% over the same quarter the previous year.
Because of a weak January and February in sales volume, condos and townhomes stayed on the market for an average of 75 days, which is 23% more than the 61 during the 1st quarter in 2013.
The median condo price increased from $86,750 during the 1st quarter in 2013, to $108,000 representing a 24.5% gain. Higher priced condos sold well this quarter, which helped to bump up the median price. But prices this quarter rose across the board too.
For the 685 sold condos and townhomes in Phoenix, the average price per square foot during the 1st quarter was $106, which shows an increase from $91 in the 1st quarter of 2013.
Though median and average sales prices have started to level in the past few quarters as supply and demand start to stabilize, every condo community may be slightly different. Contact Us to get a a comparable analysis of the area and price point within Phoenix that is tailored to you.
© 2014 ARMLS and FBS. All information deemed accurate but not guaranteed.
Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.
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The Valley of the Sun, the sixth most populated city in the country, owes its striking beauty to rugged mountains, desert cactus, and tropical palm trees. Its growing downtown and midtown area is attracting those looking for the urban lifestyle.
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Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.
Last Updated: 2024-04-18 00:46:46