Scottsdale Condo – Townhome Prices Continue To Climb

Stephen Proski
Published on August 29, 2012

Scottsdale Condo – Townhome Prices Continue To Climb

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Scottsdale Condo – Townhome Prices Continue to Climb as the inventory decreases and demand is still strong.  At the present time, there are only 443 condo – townhomes for sale in Scottsdale.  Of those 443 condo – townhomes available for sale, the lowest priced condo is located in south Scottsdale priced at $28,000.00 for a 1 bedroom 1 bath coop unit.  The highest priced condo is located at the Landmark Kierland at $2,650,000.00 and that is a penthouse suite overlooking the golf course and city views that has more than 3900 square feet with 4 bedrooms and 3 baths.

We have seen inventory declining throughout the year in both Short Sale, Foreclosures as well as regular sales.   The Scottsdale market has slowly changed from a buyers market to a sellers market, but by no means have we seen a total recovery from the highs of 2004 thru 2006.  Total condo-townhome sales last year in Scottsdale were 1779 units.  To date, we have had 1467 condo-townhome sales and there are currently 339 pending sales.  With that being said with 4 more months to go in the year, we will have exceeded our total condo-townhome sales from 2011. To view current condo – townhomes for sale in Scottsdale.

 

Buyers looking to purchae a condo – townhomes in Scottsdale that are priced under $250,000.00 are having a harder time these days finding a property.  73% of all condo – townhome sales this year in Scottsdale have been priced under $250,000.00.   The majority of my clients who are looking within this price range are dealing with bidding wars and paying above list price in most instances.  In 2011 the average list price for a condo – townhome in Scottsdale was $185,000.00 and the average sold price was $175,000.00.  During the same time period this year, the average list price for a condo – townhome in Scottsdale was $227,000.00 with an average sales price of $219,000.00 dollars.  We have seen a 25% increase in condo -townhome prices within Scottsdale since last year and that is good news for sellers.

 

If your looking for a nice condo – townhome in the Grayhawk or McDowell Mountain Ranch communities under $250,000.00 you will be standing in line with many other buyers if you don’t jump in and purchase a unit soon.  With interest rates at an all time low, inventory dramatically down and prices starting to climb, buyers can’t sit on the fence much longer or they will be without a property.  Now if you want to look in other areas besides Scottsdale, then the opportunities are much better, but it depends on the area and price range one is looking at.  Scottsdale Condo-Townhomes For Sale  If you would like more information about Scottsdale condo townhomes for sale, please call me today at 1-866-620-2164 or contact me

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Scottsdale Condo – Townhome Prices Continue To Climb
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