“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me email@example.com. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE and CLICK HERE for Map of Apartments Under Construction or in Pipeline.
Catherine Reagor, The Republic | azcentral.com Published 7:00 a.m. MT June 6, 2017
- Since last year, condo sales throughout the Valley have almost tripled, while prices are up 17 percent
- Condo prices in Phoenix vary greatly. Prices in the Optima Kierland towers under construction in Kierland top $1 million
- Downtown Phoenix, which went without any new housing for decades, now has new highrise condo projects planned on several prime corners
Phoenix is in the midst of a condominium building boom.
New high-rise developments are going up from downtown Phoenix northeast to Kierland near the Loop 101. New urban-style attached homes can be found from midtown and uptown to the Biltmore area and east to the Arcadia neighborhood.
Since last year, condo sales throughout the Valley have almost tripled, while prices are up 17 percent, outpacing gains for the housing market as a whole.
“Condos are gaining market share in the Phoenix area, selling in larger numbers and seeing higher prices, Location, location, location
Millennial Sean Coleman has always been keen on the urban lifestyle and bought a condo in Tempe when he went to Arizona State University. He still owns that home and is buying another condo at Contour on Campbell near the Biltmore area in Phoenix, where prices start in the $300,000s.
“I’ve always lived in condos or apartments and prefer urban living,” said Coleman, director of technology at Drawbackwards. “I never had a desire to live in a big house and accumulate stuff. I am more interested in collecting experiences than physical possessions.”
Condo prices in Phoenix vary greatly. Prices in the Optima Kierland towers under construction top $1 million, while new condos in downtown Phoenix’s en Hance condos next to Margaret T. Hance Park start at $235,000.” said Mike Orr, real estate analyst with the Cromford Report.
Downtown Phoenix, which went without any new housing for decades, now has new high-rise condo projects planned on several prime corners.
At Portland on the Park, a 149-unit project on Portland Street and Central Avenue, 75 percent of the condos have sold. Prices start in the $400,000s and top out at $1.3 million.
MORE: 5 changes to watch for on Roosevelt Row in 2017
“Our first residents are a part of a movement writing the next chapter in a more connected, more robust downtown Phoenix,” said Portland on the Park developer Tim Sprague, principal of Habitat Metro.
A 31-story residential tower was recently announced for downtown Phoenix’s Arizona Center by North American Development Group.
“It’s clear people want to live in connected areas like downtown Phoenix now,” said Chris Chamberlain, a partner with North American Development Group.
A shift toward denser infill housing for metro Phoenix is occurring mainly because of changing lifestyles of Baby Boomers and Millennials, who want luxury residences with the amenities of an urban setting. Also, rising home values are helping people sell homes farther out and move closer in.
The right location
Valley luxury homes by the numbers
A year ago, some housing market watchers were concerned too many new condos were going up too fast in metro Phoenix. So far, sales and prices are beating expectations.
More than 4,000 new condos were started or completed in the past two years.
The median price for new condos has climbed to $384,000 from $301,000 a year ago.
The median price for a new single-family home is about $302,000.
During the first quarter of 2017, 50 new condos sold, compared to 11 during the first three months of 2016.
The average price of new condo is $547 per square foot.
Luxury condo sales have quadrupled from last year.
But not every Valley condo project is drawing buyers at the rate developers had hoped. Experts attribute the slack sales in those cases to location and pricing.
“Attached projects dominate the landscape in many parts of the Valley, but the reality is that about one in five infill projects is selling really well and others are struggling,” said real estate analyst Jim Belfiore of Phoenix-based Belfiore Real Estate Consulting,
Condo projects close to shopping, restaurants, jobs, freeway and light rail are drawing the most buyers.
“Behind the Valley’s infill growth is a trend toward people wanting to live near places they can interact with their neighbors more,” said Arizona real estate analyst Mark Stapp, director of the Master of Real Estate Development program at ASU.
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me firstname.lastname@example.org. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE and CLICK HERE for Map of Apartments Under Construction or in Pipeline.
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME 520-975-5207 OR E-MAIL ME email@example.com
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me firstname.lastname@example.org
Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail email@example.com or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
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