Originally Posted by PhxDT
I have been talking with the realtors on this project, this hasnt been selling too well, and with a 500-625/ft cost, it is understandable (sold 35% as of two weeks ago). I am not certain, but I believe a parking space is in addition to that cost.
I can't say I'm surprised. My complaining about being squeezed out of the downtown condo market aside, I can't see how there is a huge market for really expensive, really small condos.
$400,000 for 800 square feet? I mean, most people that can afford that kind of pricing would most likely be looking for a bigger condo in a much better neighborhood.
That's 24th Street and Camelback pricing in a downtown that is years away from being a vibrant, sophisticated place to live. This is probably the biggest problem with urban renewal in Phoenix at this time.
There's no disparity in pricing even though there is a huge disparity in the quality -- and safety -- of the surrounding neighborhoods. One should be able to buy the same condo at a lower price in sketchier neighborhoods, much like you pay less for a new house in South Phoenix than you do in Scottsdale, even if the builder and model are virtually identical.