Excerpt from: Greater Phoenix trends and statistics
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| February 13, 2008 | | Median condo and townhome prices in Greater Phoenix. | The condo and townhome market in Greater Phoenix is holding prices up more then the single family homes. Below are the most recent median condo/townhome prices in Greater Phoenix. If you'd like to search for a condo take a look at the Phoenix cities Condo and Townhome search. Condos / Townhomes / Patiohomes | | Median Sale Price | Median Sale Price | % Change | | | Jan. '07 | Jan. '08 | | | VALLEY | $ 175,000 | $ 174,500 | 0.0% | | Phoenix | $ 150,500 | $ 165,750 | 10.5% | | Scottsdale | $ 272,500 | $ 272,500 | 0.0% | | Glendale | $ 139,150 | $ 123,000 | -11.6% | | Mesa | $ 165,000 | $ 145,000 | -12.1% | | Tempe | $ 201,000 | $ 167,000 | -16.9% |
Date from ASU Poly. Graphed by Artur Ciesielski, CCIM
Though Glendale, Mesa and Tempe all had larger declines in median prices of condos then in previous months, the Phoenix metro area stayed flat as did Scottsdale. A total of 640 townhome/condominiums sold in January 2008. This is 5 more then in December and 110 less then in January 2007. This type of housing has more demand as its appeals more to second home buyers as vacation homes. There have been many Canadians buying condos in the valley, especially Scottsdale the most popular vacation home spot. Condos are also popular as investment properties with many investors. | |
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