– Luxury Condo Sales in Scottsdale and Phoenix – July 2014 –
In this report, we will look at the sales activity for luxury condos with list prices in excess of $1 million.
ACTIVE LISTINGS AT THE END OF JULY
Inventory was off slightly at the end of the month, from 23 listings to 21. Of the units for sale, eleven of them were in Phoenix and the remaining ten were in Scottsdale.
A luxurious penthouse in The Landmark continues to be the most expensive unit for sale. It had been listed for $3.7 million, but there was a price reduction to $3,450,000. It has 4,877 square feet, three bedrooms and three and one-half bathrooms.
The least expensive luxury condo for sale is found in Old Town’s The Mark community. Priced at $1,000,000, this unit has two bedrooms and two and one-half bathrooms and is 2,451 square feet.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
One luxury condo was under contract at the end of July. It was a penthouse in the well-known Scottsdale Waterfront Residences in Downtown Scottsdale. With 3,363 square feet, two bedrooms and two and one-half bathrooms, the condo had been on the market for $2,900,000.
LUXURY CONDO SALES FOR JULY
Two condos sold in the month of July.
The first sale was in Phoenix’s elegant Esplanade Place in the Biltmore. The 8th floor unit had two bedrooms and two and one-half bathrooms and 2,978 square feet. It had been listed for $1,249,000 and sold for $1,210,000 in a cash transaction.
The second sale was in Scottsdale in The Mark community. This corner unit came with 2,442 square feet, three bedrooms and three and one-half bathrooms. It was on the market for $1,052,000 and ultimately sold for $900,000.
Although sales were not as strong in July as in June for Scottsdale and Phoenix’s luxury condo market, two sales was still a solid performance. And, there was a single pending sale at the end of the month, which ideally will close in August.
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 8/1/2014 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