Midtown Condos Market Overview
Midtown Condos Market Highlights
As of May 5, 2025, the condo/townhome/patio home market in Midtown reflects a landscape of shifting trends that is important for both buyers and sellers to understand.
- Over the past month, the number of active listings has expanded to 118, a notable increase from 107 three months ago.
- Although the average sold price remains relatively stable at $580,007, it marks a discernible rise compared to $350,207 three months prior, showcasing increased buyer confidence.
- The average days on market (DOM) for active listings currently sits at 169 days, which is longer than the 222 days recorded three months ago, suggesting sales are gradually speeding up.
- Notably, the months of inventory stands at 10.4, indicating a balanced market in Midtown.
Curious how the Midtown Condos market has changed over time?
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Midtown Condos Market Report
An In-Depth Look at the Midtown Condos Market
The Midtown condo/townhome/patio home market displays a range of dynamics that could significantly impact buying and selling strategies. Currently, the active listings count has increased to 118 over the past month, up from 107 three months ago. This trend suggests a growing inventory that offers more choices for potential buyers. However, it is essential to note that the average sold price is $580,007, reflecting a significant hike from $350,207 three months ago.
Interestingly, these higher sold prices come amidst an increase in DOM, which currently averages 169 days. This suggests that while listings are moving, they are doing so at a slower pace compared to the previous quarter, which recorded an average of 222 days. The longer DOM could lead sellers to reconsider their pricing strategies to attract more potential buyers, especially in a market where buyers may benefit from increased choices and potentially negotiate better offers.
The current months of inventory, which stand at 10.4, indicates a relatively stable market. As a rule of thumb, a months of inventory figure above 6 typically suggests a buyer-favored market, allowing for more negotiation leverage for buyers. Therefore, the insights gathered from these metrics illustrate the importance for sellers to position their listings competitively, potentially via attractive pricing or enhancing property features to reduce the DOM.
Looking back over the past year, the market has shown fluctuations in both inventory and prices. For instance, one year ago, average sold prices were lower at $453,197, while the current average price indicates a recovery trajectory which is promising for sellers. Additionally, examining the price per square foot and other metrics could provide actionable insights moving forward. For example, the average price per square foot currently sits at $356, slightly tapering from $357 three months ago for active listings.
In summary, the Midtown market presents opportunities alongside challenges. Prospective buyers should remain vigilant, capitalizing on a more expansive selection of listings, while sellers must adapt to the nuanced balance of pricing and market dynamics, ensuring that their properties remain attractive contenders in the evolving marketplace.
Info About Midtown Condos
For those seeking a distinctive urban lifestyle, Midtown Phoenix has grown to be a thriving and bustling neighborhood. For those looking to live in the center of the city without having to worry about maintaining a yard, Midtown Phoenix has a variety of condos for sale (including townhomes and patio homes). These condos are conveniently located close to some of the best eateries, museums, art galleries, hospitals, schools, entertainment venues, and businesses the city has to offer. They also offer a variety of amenities. Read More...Dining Out
The wide variety of restaurants in the area is among its best features. El Chullo Peruvian Restaurant & Bar, the infamous Durant's, Blue Fin, and Mary Coyle Ol' Fashion Ice Cream are just a few of the city's top eateries that are located there. No matter what your cravings are—fine dining, pizza, or something completely different—you're sure to find a restaurant that will suit them.Culture
Midtown Phoenix is home to several museums and art exhibits for those who have an interest in the arts. With its impressive collection of modern and contemporary art, the Phoenix Art Museum is a must-see attraction. There is also the Heard Museum nearby, which is devoted to Native American art and culture. There are also a number of smaller galleries and studios where local artists' creations are displayed.Time with the Family
At the NE corner of Central Avenue and Indian School Road, one of the many parks is Steele Indian School Park, where one can play basketball or volleyball or simply relax and take in the vast grassy areas. Throughout the year, a number of events take place here as well. Encanto Park, another very well-liked park, is home to Enchanted Island Amusement Park, which offers rides, a train ride, pedal boats, and even the option to just sit and watch the ducks. Being surrounded by old growth trees, palm trees, and other lush vegetation makes it difficult to believe you are in a desert when you are walking around.Health Care Services
There are several hospitals and healthcare facilities in Midtown Phoenix, including St. Joseph's Hospital and Medical Center and Banner - University Medical Center Phoenix. Phoenix Children's Hospital, which is in Central Phoenix but only a short distance from Midtown, is well-regarded. Residents have access to world-class medical services and care at these facilities.Education
There are many public schools to choose from as well as a few private schools, including Brophy College Preparatory and Xavier College Preparatory, when it comes to education. Additionally, there is the highly regarded charter school BASIS.
Midtown Phoenix Condos for Sale
Getting Around
The light rail runs through the center of Midtown Phoenix, making it simple for locals to get around without a car. Residents can access other areas of the city, such as Uptown Phoenix, Downtown Phoenix, Tempe, Mesa, and the airport.Final Thoughts
Residents of Midtown Phoenix have access to some of the best restaurants, museums, art galleries, hospitals, schools, entertainment venues, and businesses in the city. It is a thriving and exciting neighborhood. With its wide selection of condos for sale, Midtown Phoenix is sure to have a living option that fits your needs and way of life. Therefore, Midtown Phoenix condos are definitely something to think about if you're looking for an urban lifestyle with minimal maintenance.Brian Adamski, Realtor
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