The Condo Mania Team
Phoenix Condo ManiaNews > First Quarter Phoenix Condo Sales Blasted Out of the Park
published on 2017-04-15
The first quarter of 2017 saw a huge increase in number of sales and prices. 19.5% more condos sold than the same quarter last year, and the median price rose 22% as well.
Investors are buying up the low end. Approximately 90% of the 100 lowest priced condos that sold are categorized as "Rental Residential."
The high-end was busy too. 34 condos and townhomes sold for over $500,000 vs. just 15 in the first quarter. Some of the high-end sales are from new condos in downtown Phoenix, like Portland on the Park, a favorite among our clients.
Months of inventory is 2.24, which is as low as it has been in at least the last 2 years. Inventory is especially tight for condos between $100,000 and $300,000. If you are looking in this price point, contact us early so we can start looking for you.
See the whole Phoenix Condo Real Estate Report here.
Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.
The Fair Housing Act prohibits discrimination in housing based on color, race, religion, national origin, sex, familial status, or disability.
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: 2024-04-24 00:47:24