Arizona golf communities have a lot to offer residents. The endless sunshine, hiking trails, superb shopping, variety of restaurants and of course, championship golf courses, all attract homebuyers from across the country, and even the world.
This summer is no exception. While the warmer temperatures and lower city population from late spring to early fall traditionally contributed to fewer condominium contracts in the past, the market has picked up for Arizona condos for sale this year as compared to the same time in 2014.
According to the Cromford Report, almost every condominium price range has increased in demand in 2015. The greatest increase has been seen in the $100-$150K range, and this range in particular has seen a 32.6% increase in the number of units under contract.
Graphic courtesy The Cromford Report.
Part of the reason for the increasing competition is the decrease in single family property inventory, especially near the $200K price point. So, buyers who were originally looking for a house are now looking to condos as an alternative.
The higher demand and competition is great news for sellers, but there’s plenty of good news for buyers, too. The third quarter, which we just started, remains the best time to buy if you want to take advantage of fewer homebuyers in the Valley in general. This is the time of year when the Phoenix Metro area tends to clear out as people go on summer vacations or return to cooler climates.
Simply put, less people means less competition and better potential for deals, as buyers have a greater advantage at negotiation time.
Unsurprisingly, luxury condos and Scottsdale luxury golf homes over $1M are currently a buyer’s best bet for taking advantage of the third quarter seasonal shift. This market is highly seasonal and buyers have over 40% more active listings to choose from now as compared to this time in 2014. This is a great time to reap the benefits from leftover busy season inventory, and again gives buyers a distinct advantage when making an offer and negotiating.
For more information on Arizona golf course communities and condos, whether you’re buying or selling, contact the experienced professionals at The Matheson Team. We know the communities, markets and seasons and can help you find your perfect golf home.
Don Matheson
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255
480-405-4228
[email protected]
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