Top 4 Things That Determine Price

The price of your Phoenix condo is determined by weighing many different factors. I find though that in an area where space is tight and the market moves rapidly, condominiums are often priced according to the square footage of the living area and their location (Location Location Location) in relation to shopping resources and schools etc. There are several other factors that are important in this process as well. Phoenix condo agents or Realtors price homes according to comparable sales in the same Phoenix high rise condo neighborhoods that are relatively close in size and design.  Here are the most important things that will impact the price of your Phoenix real estate:

CONDO SQUARE FOOTAGE

As I stated above, the most obvious factor but not the only thing impacting the price of your Phoenix condo is the square footage of the condominium. The average high rise condo in Phoenix is around 2000 sq feet. If you have extra bedrooms and living space are highly sought after and can really drive up values. The better use in the layout of the Phoenix condo, the higher the price per square foot. Large kitchens and extra bathrooms or master bathroom suites tend to add even more value to your condominium. Finally storage space such as walk in closets are considered a luxury feature or item afforded by the extra square footage.

CONDO LOCATION

Location as always plays a huge role in determining home price or value. The neighborhood or building and nearby condo set the bar for home values in an area, but many buyers also consider the distance from public transportation, shopping and quality restaurants as key determining factors. The more convenient the condo is to and access major interstates and other important resources, the higher the price goes. On the other hand, being in the vicinity of airports or poor schools can drive prices down.

Phoenix is known for its historic neighborhoods like the Central Corridor,so real estate located near these destinations may be much more expensive than other locations farther outside Phoenix.

CONDO CONDITION

Obviously, the better the Phoenix condo building and unit is cared for, the more it will sell for. Common signs of wear and tear like worn down carpet or broken doors and faucets can drop the price. Even a fresh coat of paint can really ad to the value and appearance of a condo overnight.  If the exterior of the condo building has grown out of control, the home will automatically show for less. Looking good is a big selling point of your home, and maintaining it is important for determining the listing price of your condo.

CONDO AMENITIES

There are some amenities that boost value every time, while others are maybe not so much. For instance, new energy efficient appliances in the kitchen or an oversized bedrooms are beneficial. Pools, Parking spaces (private even more) and even an on site gym can be big in values of your condo to potential buyers.  Other popular amenities include common or private roof decks, permanent storage in the buildings, and other add-ons that may not be available in other real estate options.

As you shop for your dream Phoenix condo for sale or prepare to sell your own Phoenix high rise condo, keep in mind that these above factors will go a long way in determining the price you get for your home.