News > Phoenix Condo Price per Square Foot up 9% in the Third Quarter

published on 2016-10-08

Sales were almost flat for Phoenix condos in the third quarter of 2016 compared to the same quarter last year, but Price-per-square-foot numbers rose 9%. That means you now have to pay on average $130 for every square foot of condo you buy if prices hold up the rest of the year.

An anomoly on the Median Price per Square foot in Phoenix showed an increase of a whopping 16%. One contribution to this difference is that the higher priced condo closings disappeared this quarter, with only one condo over $600,000 closing.

One reason Phoenix luxury condo buyers didn't close last quarter is exceptional choices luxury buyers have at new Phoenix developments - specifically Portland Place and One Biltmore Estates.  Four of our luxury clients have entered into contracts at Portland Place which will start closing later this year.  There are some other great infill building projects going on in urban Phoenix -  contact us before you visit the builder if you want expert representation at no additional cost to you.

For more sales statistics, check out our third quarter Phoenix Condo Sales report.

 

 

Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.