Here are the Phoenix and Scottsdale luxury condo sales for March 2012. This report considers luxury condos as those with list prices of $1 million or above. The data is broken into the current inventory for sale, pending sales as well as actual sales. You can see the summary information as well as individual sales information for Scottsdale and Phoenix.
Pending Luxury Condo Sales – By the end of March, there were three pending luxury condominium sales. All three of them were in Scottsdale and were at three different communities.
– The first pending sale was found at Safari Drive in Downtown Scottsdale. It was a 3 bedroom, 3.5 bathroom unit with 2,610 square feet. The asking price was $1,075,000.
– The second pending sale was at The Landmark at Kierland. This unit was a 3 bedroom, 2.5 bathroom, 2,688 square foot condo with a list price of $1,082,000.
– The final pending sale was a sixth floor unit at Scottsdale Waterfront Residences. This one was a 3 bedroom, 3.5 bathroom condo with 3,884 square feet and an asking price of $1,649,000.
March 2012 Luxury Condo Sales – In all, three luxury condos sold in March. Two of them were in Phoenix, which were the first luxury condo sales of the year. The final sale was in Scottsdale.
– The first sale was at 2 Biltmore Estates. This ground-floor luxury condo had 4 bedrooms, 4.5 bathrooms and 4,877 square feet. It had been on the market for $1,658,000 and ultimately sold for $1,510,000.
– The next sale was at The Residences at 2211 Camelback. This unit had 3 bedrooms, 3.5 bathrooms and 3,673 square feet. It sold after only being on the market 12 days at above asking price. It had been listed for $1,290,000 and sold for $1,300,000.
– The third sale in March was the largest sale of the year so far. It was at the Scottsdale Waterfront Residences and was a penthouse condo. It had 3 bedrooms, 3.5 bathrooms and 3,940 square feet. The asking price was $2,499,000 and it sold for $2,400,000.
SCOTTSDALE AND PHOENIX LUXURY CONDO SALES – FIRST QUARTER 2012
Here are the results for the first quarter of 2012. There were 9 luxury condo sales in all. Of those, 7 were in Scottsdale and the remaining 2 were in Phoenix. This is a good pace as it is almost one half of all of 2011’s luxury condo sales of 20. In Q1 2011, 6 luxury condos sold.
The communities these sales took place in include:
– Optima Camelview Village (Scottsdale)
– Scottsdale Waterfront Residences (Scottsdale)
– The Residences at 2211 Camelback (Phoenix)
– Kierland Plaza Lofts (Scottsdale)
– Two Biltmore Estates (Phoenix)
– The Landmark (Scottsdale)
Overall, March 2012 was a strong month for the luxury condo segment. Sales were brisk and there are three more sales in the pipeline. Inventory was down slightly as well. Looking forward to April, it should be interesting to see if any other quick sales pop up. For instance, at the beginning of March, there were no pending sales, but we ended up seeing three sales take place.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/31/2012 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