"Much like the single-family market the townhouse/condominium market also showed some improvement in October with 710 recorded sales. This is better than the 685 sales of September, but below the 915 sales of a year ago. Townhouse-condominiums tend to be popular with seasonal visitors, investors and people seeking affordable housing. Unlike the single-family market, the median home price remained stable at $170,000 and comparable to last year's $175,000. However, the median price has fallen greatly from the record $184,990 set in May 2007. Some of the price decline can be attributed to slowing of the higher priced condo conversion projects."
Full Article: http://www.poly.asu.edu/news/2007/11/15/
Other than the anomaly in the May time frame, it's encouraging to see that condo pricing is relatively stable, especially compared to single family homes.
You can find more historical pricing data and analysis here: http://www.poly.asu.edu/realty/, including breakdowns by city.
Look here for listings of condos around the ASU area, or here to search for condos in the metro Phoenix area.
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