– Scottsdale and Phoenix Luxury Condo Sales – Through Q3 2013 –
Here are the results for the first three quarters of 2013 for luxury condo sales in Scottsdale and Phoenix, Arizona. In this report, for a condo to be considered ‘luxury,’ it needs to have had an asking price of $1 million or more.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX – Through Q3 2013
As you can see, there was quite a large drop in activity between Q2 and Q3. Only three units sold over the course of the third quarter and all of the sales took place in Scottsdale. Interestingly enough, there were also only three sales in Q3 2012.
A stunning penthouse at the Scottsdale Waterfront Residences in downtown Scottsdale is still the highest priced sale for 2013. It had been listed for $3,800,000 and sold for $3,600,000 in a matter of a couple of weeks. The penthouse had four bedrooms, four and one-half bathrooms, 4,437 square feet, large outdoor spaces as well as separate guest unit with kitchen and laundry.
The lowest priced sale of 2013 occurred in the third quarter. The unit was located at The Mark, a small luxury community in Old Town Scottsdale. The unit had two bedrooms, two and one-half bathrooms and 2,162 square feet. The final sales price was $920,000.
SCOTTSDALE LUXURY CONDO SALES – Through Q3 2013
Here is the same data, but for Scottsdale condos only. As we have seen across the market, sales tapered off quite a bit after a vibrant second quarter.
At the same time last year, there had also been 18 home sales through the third quarter, so we are on the same pace as 2012.
As mentioned above, the highest and lowest sales that occurred this year were in downtown Scottsdale.
PHOENIX LUXURY CONDO SALES – Through Q3 2013
This is the data for the Phoenix luxury condo market.
In Q3, there were no luxury condo sales in Phoenix. However, there was healthy pending inventory in the Two Bilmore Estates community, which is almost finished with the construction of new units. Based on this, I anticipate seeing some activity in Phoenix in Q4.
As anticipated, there was a dropoff in sales activity in the third quarter after a very strong Q2. If 2013 performs as other years have, Q4 should finish out with an uptick in sales, although not quite as high as we saw in the first half of the year.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2013 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 © 2013 Heather Tawes Nelson