The downtown Phoenix high-rise condo sales have slowed down considerably.
Many condo building projects have added apartments to their developments, and some Phoenix Arizona condominium projects have become apartment projects instead, including Jet and Alta Phoenix.
Some Phoenix Condominium projects, such as Summit at Copper Square remain around 30% unsold.
Summit at Copper Square is a 23-story luxury high-rise condominium project on 4th St and Camelback in Phoenix, Arizona, 85004. The condos range in price from $440K to $1.6mil for 1 to 3 bedrooms, with 900 to 2000 square feet. The Phoenix location is prime, across the street from the Arizona Diamondbacks, Chase Field, and only a short drive to the Biltmore and Scottsdale Fashion Square, but the market doesn't seem to want to bear the cost for the convenience.
Throughout Maricopa County, condo sales are reportedly down by more than 35% since 2005. Stats are showing that downtown Phoenix condo sales are up slightly in the 85003 and 85004 zip codes, but that is likely to be due to home buyers that signed contracts a couple of years ago when the projects first began.
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