Condos in Phoenix on the Rise

Over a million condominiums have been sold in Phoenix in the past year, making them the most popular real estate market in the past three years. Family homes are definitely still in high demand, keeping them strong in the market. However, the market for condos has become a brilliant option instead of traditional family homes. The affordability of condos makes them very appealing to buyers who don’t have the financial ability to invest in a family home. However, not all condo purchases are made as an entry level sale. There are a number of buyers that are looking for luxury condos.

Condo prices have kept pace with the housing appreciation levels of other traditional homes. In some cases, condos are just as expensive as family homes. So clearly, it isn’t only a matter of affordable pricing that is making condos attractive to buyers. It’s the convenience of a low maintenance home combined with a great location. It is estimated that home owners aged 55 to 74 will increase by 36 percent through 2015. This aging population is making different decisions about what type of housing is most appropriate for them, and many are rejecting the idea of staying in the family home during retirement. Instead, this very mobile and active generation is choosing homes that better accommodate their busy lifestyle, which often leads into the condo market.

These buyers are finding lots of opportunity in the Phoenix real estate market. The condos that are for sale aren’t anything like the basic condo found in many markets. These homes are decidedly upscale and are definitely as comfortable as most single family homes.

Owning a luxury condominium gives home owners a chance to live in affordable comfort and ease, and there’s certainly no better market than the Phoenix real estate market to find these stunning condos. Phoenix is a pioneering community when it comes to condominium development. There are condos situated on golf courses, ones with breathtaking mountain views and also ones in the heart of the city. Whatever kind of condo home you are looking for, Phoenix is guaranteed to have it.