Here are the results for the Phoenix and Scottsdale luxury condo market for May 2012. These are units currently for sale with a list price of $1 million or above and this report takes a look their sales activity over the past month.
The data below is broken into three categories which include luxury condos on the market, pending condo sales and completed luxury condo sales in May 2012. I have also shown the same data for the individual cities of Scottsdale and Phoenix.
Pending Luxury Condo Sales – At the end of the month, there was a single pending sale. This unit was in Scottsdale and is found at the Kierland Plaza Lofts. It has 3 bedrooms, 3.5 bathrooms and 3,919 square feet. The asking price at the time of contract was $2,995,000.
May 2012 Luxury Condo Sales
All five of the luxury condo sales in May took place in Scottsdale. Each of the sales is outlined below.
– The least expensive sale was at Safari Drive in Downtown Scottsdale. It was listed for $1,075,000 and ultimately sold for $950,000. This unit had 3 bedrooms, 3.5 bathrooms and was 2,610 square feet.
– The next most expensive sales both happened at the Plaza Lofts at Kierland. These two units were the same model and were on the 5th and 6th floors. Both of these condos sold for list price at $1,050,000 and $1,060,000 respectively. This particular model comes with 2 bedrooms, 2.5 bathrooms and there are 2,047 square feet.
– The next sale was at the Scottsdale Waterfront Residences in downtown Scottsdale. It was for a 3 bedroom, 3.5 bathroom and 3,884 square foot condo. The unit had been listed for $1,649,000 and it sold for $1,575,000.
– The final and most expensive sale in May was a sixth floor condo with 3 bedrooms, 4.5 bathrooms and 3,066 square feet. This sale took place at the popular Optima Camelview in downtown Scottsdale. The asking price was $1,800,000 and it sold for $1,764,000.
It was another great month for luxury condo sales in Scottsdale, Arizona. Kierland Plaza Lofts continue to perform very well as they have been over the last several months. The single pending sale at the end of the month is promising because of the price point, but it does not bode well for sales in June 2012. And unfortunately, the luxury condo market in Phoenix is not performing well. For the second month in a row, we did not see any activity.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2012 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