The Scottsdale and Phoenix luxury condo market experienced and excellent month in April. Sales were the highest we have seen in a while and there was solid pending inventory as well.
Below you will see a chart with sales activity of luxury condos during the month of April. I am defining luxury condos as those with asking prices above $1 million.
ACTIVE LISTINGS & PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
The inventory of luxury condos for sale has been hovering in the just under 30 listings range for many months. Asking prices range from $1,070,000 for a three bedroom unit at The Landmark in the Kierland area to a penthouse at the Scottsdale Waterfront Residences listed for $3,695,000.
At the end of April, there were three pending sales. Two of them were in Scottsdale and the other was in Phoenix.
APRIL 2013 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
April saw an excellent month for luxury condo sales, coming in at five. Four of these sales were in Scottsdale and the final one was in Phoenix.
- Optima Camelview Village in downtown Scottsdale had a sale in April for $1,050,000. This unit was a three bedroom, three and one-half bathroom with 2,315 square feet. It had been listed for $1,100,000 and was on the market for one day.
- The second sale took place at The Mark, in Old Town Scottsdale. This unit had two bedrooms and a den, two and one-half bathrooms and 2,470 square feet. The asking price had been $1,090,000 and it sold for $1,057,000.
- The Scottsdale Waterfront Residences also saw a sale in April. This 9th floor condo had two bedrooms, two and one-half bathrooms and 2,469 square feet. The sales price was $1,475,000 on a listed price of $1,725,000.
- The final sale in Scottsdale in April was at the Kierland Plaza Lofts. This sixth floor unit had three bedrooms, two bathrooms and 2,802 square feet. The asking price was $1,650,000 and the sales price was $1,550,000.
- Phoenix’s single sale took place in the 2 Biltmore Estates community and it was the highest priced sale of the month. This unit had three bedrooms, three and one-half bathrooms and 4,877 square feet. They had been asking $2,200,000 and it sold for $2,000,000.
April was a positive month for the Scottsdale and Phoenix luxury condo market. Sales surpassed expectations and there was healthy inventory in pending status to move us into May. May numbers should come in decent as well.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2013 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson