– Luxury Condo Sales in Scottsdale and Phoenix – April 2014 –
April was a much improved month for the Phoenix and Scottsdale luxury condo market when compared to March. For the purposes of this report, I am defining luxury condos as units with an asking price of $1 million or above.
ACTIVE LISTINGS AT THE END OF APRIL
The number of active listings stayed level, coming down one unit from the end of March. Of the 36 luxury condos for sale, 26 were located in Scottsdale and the remaining 10 were located in Phoenix.
An elegant and spacious penthouse at The Landmark was the highest priced unit on the market. Listed for $3,700,000 it had three bedrooms, three and one-half bathrooms and is 4,877 square feet.
A 2,451 square foot, two bedroom, two and one-half bathroom located in The Mark in Old Town Scottsdale was the least expensive unit on the market. It was asking $1,000,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of April, there were three pending sales.
The first one was located in Phoenix in the elegant community of Fairway Lodge at 8 Biltmore. It had two bedrooms, two and one-half bathrooms and 2,376 square feet. The asking price was $1,070,000.
The remaining two were located in Scottsdale. One was at the Scottsdale Waterfront Residences. It had two bedrooms, two and one-half bathrooms and 2,474 square feet. The asking price was $1,799,000. The other pending sale was at The Mark. This unit had two bedrooms, two and one-half bathrooms and 2,435 square feet. It was listed for $1,095,000.
LUXURY CONDO SALES FOR APRIL
There were three sales last month ranging in price from $1,075,000 to $2,000,000. Two sales took place in Scottsdale and the other was in Phoenix.
- Scottsdale Waterfront Residences – This unit had 2,227 square feet and two bedrooms, two and one-half bathrooms. It had been listed for $1,495,000 and sold for $1,248,500.
- Main Street Plaza – This three bedroom, three bathroom, 3,440 square foot penthouse sold for $1,075,000. It had been listed for $1,185,000.
- Esplanade Place – This Phoenix luxury condo had three bedrooms, four bathrooms and 4,286 square feet. It had been listed for $2,250,000 and sold for $2,000,000.
April was a decent month for luxury condo sales in Scottsdale and Phoenix. Inventory was down a little and there was strong sales and pending sales activity. This indicates were should have a pretty solid month next month as well.
Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2014 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 may 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 © 2014 Heather Tawes Nelson | Joyce Tawes