– Phoenix and Scottsdale AZ Luxury Condo Sales – June 2013 –
In this analysis, we are looking luxury at condos for sale with list prices over $1 million.
ACTIVE LISTINGS & PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Inventory was down slightly at the end of June to 25 luxury condos on the market. The most expensive condo currently listed is $3,695,000 and is is a penthouse at the prestigious Scottsdale Waterfront Residences. The least expensive luxury condo is listed for $1,050,000 and is located at The Landmark in the Kierland area of Scottsdale.
The two pending sales at the end of June were carryovers from May. Both were located in the Two Biltmore Estates community in Phoenix. The asking prices at time of contract were $1,798,000 for a three bedroom, four bath unit and $1,878,000 for a four bedroom, four and one-half bathroom unit.
JUNE 2013 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Based on pending sales at the end of May, I had anticipated a strong sales month for June, and the figures did not disappoint. Five luxury condos sold in June and all five were in Scottsdale.
- Two sales were completed at the Kierland Plaza Lofts. The first was a 2,047 square foot unit with two bedrooms and two and one-half bathrooms. It had been listed for $1,245,000 and sold for asking price. The second condo had the same square footage and layout, but was one floor lower. Asking price was $1,195,000 and it sold for $1,135,000.
- The home that comprises the top floor of the Camelback Tower commercial building finally sold after many months. This unique property has incredible potential but will need significant work to make it habitable. It had been listed for $2,499,000 and sold for $1,850,000.
- Scottsdale Waterfront Residences had a sale in June as well. It was a two bedroom, two and one-half bathroom condo with 1,919 square feet. Asking price was $1,099,000 and it sold for that amount.
- The final sale in June was at Optima Camelview. The unit had been listed for $1,429,700 and sold for $1,380,000. It had three bedrooms, two bathrooms and 2,152 square feet.
Overall, June was an excellent month for luxury condo sales in Scottsdale and Phoenix. Usually, we see a couple of sales per month, so seeing five was a nice performance. There are still two ongoing pending sales in Phoenix, so ideally they will close out some time in July.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2013 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed. There June be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson