Condo Sales in Greater Phoenix are lower after a few month of increasing sales.  With 272 sales in June 2008 the decline is still steep from last years 448 sales. 

Part of the decline may be to the lower single family home prices; lower home prices have made them much more affordable thus competing, at least in part, with condo and townhouse sales. 

The Red line represents "total active listing" which hit a plateau in February 2008.  Since then there has been a decline in supply while sales were up reducing inventory. 

Still the inventory stands at 13.3 months which is very high, considering it was just under 8 months last year and 4.6 months at the peak of the market.

	Median Price	Units Sold	Days on Market	Supply (months)
2008	$184,900	272	99	13.3
2007	$210,000	448	84	7.7
2006	$242,000	571	47	4.6

The large supply of condos means that opportunities are abound for condo and townhouse shoppers.  You can start your search at our map based Phoenix condo search.

Some of the most sough after projects in recent years have units for sale at very affordable and bargain prices.  Places like Orpheum Lofts or Portland Place have great prices and a good selection of condos for sale.