Here are the sales figures for April 2010 for the luxury condo market in Scottsdale and Phoenix . For the purposes of this analysis, I am defining the luxury condo market as condos with asking prices in excess of $1 million.
Sales continue to be good for luxury condo sales in Scottsdale and Phoenix. At the end of April there were three pending condo sales and two sales had closed during the month. As of May 1st, there were 73 luxury condos on the market in Scottsdale and Phoenix – 40 of them in Scottsdale and the remaining 33 in Phoenix,
The two April luxury condo sales were evenly split between Scottsdale and Phoenix. The Scottsdale sale took place at the Scottsdale Waterfront Residences and was for a three bedroom, three and one-half bathroom, 2,296 square foot unit. The sale price was $1,100,000 or 92% of asking price. The other sale was at Esplanade Place in Phoenix. This particular unit was a two bedroom, three bathroom, 3,542 square foot condo that sold for $1,175,000 or 81% of list price.
The three pending luxury condo sales at the end of April were all located in Scottsdale. Two of the units were located in the Scottsdale Waterfront Residences community and the third was located at The Landmark, which is in the Kierland area.
Overall, luxury condo sales in Scottsdale and Phoenix had another good month and based on pending sales, May should also be another good month.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2010 and can change at any time. The analysis looks at resale condos in Scottsdale 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. This is the first month that Tempe is not included in this analysis.
Copyright © 2010 Heather Tawes Nelson