The luxury condo market in Scottsdale and Phoenix had a quiet month in July 2012. (In this report, I am defining the luxury condo market as condos for sale with asking prices above $1 million.) As I alluded to in the June luxury condo report, there were not any pending condo sales on track for July. So, barring any quick closes with cash buyers, it was going to be a slow month.
Rather than show the entire report with breakouts by active, pending and sold activity, I am just going to include the active data for July 2012. The below information includes summary data as well as city-level data for Scottsdale and Phoenix.
Needless to say, performance was lacking in July 2012. Ideally August will at least get some pending sales on the books.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 8/1/2012 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2012 Heather Tawes Nelson