Phoenix Luxury Condo Market
Has the influx of luxury condo projects saturated the Phoenix market? That is the opinion shared by many market watchers. More than 30 projects are either finished or under construction in the Valley. More than 20 of those projects, mainly in Phoenix and Scottsdale, feature units costing $1 million or more.
Like the single family home market, the condo market is also feeling the pain of a softer market. And, with a large selection of high-end condo projects to choose from, buyers are getting pickier and shopping around more. A relatively large pool of potential buyers for luxury condo units in the Phoneix area may translate into pricing coming down on many projects in the coming months. A good thing for selective buyers looking to get the most bang for their buck.