Here are the results for the final month of 2011 for the Scottsdale and Phoenix luxury condo market. The end of the year was decent for the luxury condo segment. For the purposes of this analysis, I am considering the luxury condo market as condominiums for sale with list prices of over $1 million.
Pending Luxury Condo Sales – At the end of the year, there were two pending condo sales in the luxury price point. Both of the pending sales were in Scottsdale. The first was a unit at Safari Drive in Downtown Scottsdale. It was a three bedroom, three and one-half bathroom unit with 2,610 square feet. The list price was $1,050,000. The second pending sale was at Landmark Condos in the Kierland area of Scottsdale. This one was a large unit with 4,065 square feet and four bedrooms and four bathrooms. The asking price was $2,541,000.
December 2011 Luxury Condo Sales – There was a single luxury condo sale in December 2011. This unit was at Optima Camelview in the heart of Downtown Scottsdale. This condo had three bathrooms, two bedrooms and 2,190 square feet. The asking price was $1,328,000 and the final sales price was $1,175,000.
December 2011 was decent month for the performance of Phoenix and Scottsdale Luxury Condo sales. At the end of the year, we found ourselves with a luxury condo sale as well as two pending luxury condo sales. Based on these figures, we should see a decent sales month in January of 2012.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2012 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