The luxury condo market in Scottsdale, Phoenix and Tempe, Arizona ended the year with a strong finish. By the end of the month, two luxury condos had sold and another three were pending. I define the luxury condo market as condos on the market with list prices in excess of one million dollars.
Inventory went down slightly to 70 over November’s 73 units for sale. Of these 70 units, the majority, 41, were in Scottsdale, 27 were in Phoenix and the remainder, 2, were in Tempe.
The two units that sold were both located in the Scottsdale Waterfront Residences community. One of them, the least expensive sale of the year in this category, was a two bedroom, two and one-half bathroom, 2,265 square foot short sale that was listed for $1,099,000 and sold for $800,000. The other sale was for a three bedroom, three bathroom, 3,472 square foot penthouse that was originally listed for $1,900,000 and sold for $1,750,000.
The three pending units are from three different communities, Optima Camelview in Scottsdale and Esplanade Place and Two Biltmore Estates in Phoenix. The unit at Optima Camelview is a brand new three bedroom, two and one-half bathroom, 2,593 square foot unit listed for $1,505,000. The Esplanade Place unit is a two bedroom, three bathroom, 3,000 square foot unit that is being sold furnished and is listed for $1,695,000. The final pending sale is a three bedroom, three and one-half bathroom, 3,890 square foot unit that is listed for $2,198,000.
Overall, December was a positive month for luxury condo sales in Scottsdale and Phoenix. Tempe did not fare as well as there was no activity once again. To learn more about the various luxury condo communities in the greater Phoenix valley, please click on the link.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at single-family resale condos in Scottsdale, Tempe and Phoenix over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2010 Heather Tawes Nelson