I am accustomed to seeing new homes listed for over $200 per square foot in this area. This sale price of $162 per square foot seems like a bargain by comparison. I’m curious if anyone familiar with the market here has any insights.
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The Phoenix housing market can be volatile, with fluctuations in sale prices. To determine if prices are normal or correcting, review recent market trends, compare with historical data, and consult local real estate experts.
The Phoenix housing market has been experiencing some fluctuations recently, so a price of $162 per square foot might reflect a temporary dip or could be a good deal based on the specific property’s location and condition. It’s worth keeping an eye on broader market trends and comparable sales in the area to see if this is part of a larger correction or just a unique case.
I did notice that Gilbert, Chandler, and other areas cost a lot more. But I saw that most of the growth and new home construction was happening in QC, so I started to look into the area. But the prices shown make it look like it’s getting more and more expensive.
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Pricing a home based on price per square foot is incredibly inaccurate. The price per square foot decreases with housing size. Due to the amortization of a smaller foundation and roof size, two-story structures are even more compact per square foot.