The numbers for July are in and the luxury condo market had a somewhat slow month in July. (Note: The luxury condo market is being defined as condos for sale for over $1 million.) These numbers are down quite a bit from May where there were 8 sales and 7 units pending.
At the end of July, there were 108 condos for sale throughout the valley. Fifty-three of these condos were in Scottsdale, thirty-eight of them were in Phoenix, and the remainder, seventeen, were in Tempe.
At the end of July 2008, two luxury condos were sold and four were pending. The two condos sold were located in the Scottsdale Waterfront and The Residences at 2211 Camelback. The pending condos are located in Scottsdale Waterfront, Esplanade Place and Two Biltmore Estates.
Here is a quick look at the July 2008’s numbers:
|Valleywide – July 2008*|
|Average Sale Price:||$1,544,000|
|Average Price/Sq. Ft. Sold:||$504.63|
|Scottsdale – July 2008*|
|Average Sale Price:||$1,688,000|
|Average Price/Sq. Ft. Sold:||$683.68|
|Phoenix – July 2008*|
|Average Sale Price:||$1,400,000|
|Average Price/Sq. Ft. Sold:||$337.19|
|Tempe- July 2008*|
|Average Sale Price:||$N/A|
|Average Price/Sq. Ft. Sold:||$N/A|
If you have any questions about the luxury condo market or would like to learn more about any of the communities mentioned above, please feel free to contact me.
Information herein deemed reliable but not guaranteed. Data pulled the Arizona Regional MLS (ARMLS) and can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2008 Heather Tawes Nelson