Phoenix proves ‘most resilient condo market

By AZRE | Via AZ Big Media

Leading multifamily developer Optima is capitalizing on the resilient Phoenix condo market as the newest tower within its $500 million Optima Kierland development, 7180 Optima Kierland, is now 85 percent sold as it averages 4.5 sales per month, making it among the top two fastest-selling luxury condominium developments on the West Coast.

As the housing market in Arizona continues strong sales in 2020 with healthy annual price increases and substantial sales volume, the multifamily market echoes similar success. 7180 Optima Kierland leads the Arizona condominium market, averaging 4.5 sales per month since January 2020, which is approximately five times greater than the rest of the market where a typical new condominium development averages only 0.89 sales per month.

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