The Scottsdale and Phoenix luxury condo market had a decent sales month in June 2012. For the purposes of this report, I am defining the luxury condo market as those condos with list prices above $1 million.
The below information for June 2012 has been divided into three categories. They include luxury condos currently for sale, pending condo sales and actual luxury condo sales. This data is further broken out into city-level data for Scottsdale and Phoenix.
Pending Luxury Condo Sales – At the end of the June, there were not any pending sales.
June 2012 Luxury Condo Sales
June saw a total of three luxury condo sales and for the first time in many months, Phoenix had a luxury condo sale. More information on each of the sales is below:
– Phoenix’s luxury condo sale was in Esplanade Place in the upscale Biltmore neighborhood. It was a two bedroom, two bathroom unit on the 9th floor with 2,417 square feet. It had been listed for $1,199,995 and sold for $975,000.
– The most expensive sale of the month was at the Kierland Plaza Lofts. The expansive 3,919 square foot unit with three bedrooms and three and one-half bathrooms sold for $2,700,000. The asking price had been $2,995,000.
– The final sale in June 2012 was at The Scottsdale Waterfront Residences. This sale was for a two bedroom, three and one-half bathroom 2,265 square foot condo. It had been listed for $1,195,000 and sold for $1,050,000.
June 2012 was a solid month for luxury condo sales in Scottsdale and Phoenix, Arizona. There were three sales, which keeps it on pace with what we have been seeing and Phoenix finally had a luxury condo sale after many quiet months. Unfortunately, at the end of June, there were no pending sales, so unless we see cash buyers or situations where buyers can close quickly, the forecast for July 2012 does not look promising.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/30/2012 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