– Luxury Condo Sales in Scottsdale and Phoenix – September 2014 –
The impact of the low season was seen in September’s numbers for the Phoenix and Scottsdale luxury condo market. While inventory was up and we ended the month with some pending sales, there were no closed sales during the month.
This report defines luxury condos as those units with market prices in excess of $1 million.
ACTIVE LISTINGS AT THE END OF SEPTEMBER
Inventory saw a jump in September to 28 units, up quite a bit from August’s 20 units for sale. This is most likely the result of sellers putting these homes back onto the market after the warm summer months.
Of the twenty-eight condos for sale, fifteen of them were in Phoenix with the remaining thirteen in Scottsdale.
The most expensive condo for sale was a penthouse unit at The Landmark in North Scottsdale. It has 4,877 square feet, three bedrooms and three and one-half bathrooms. It was listed for $3,100,000.
The least expensive luxury condo on the market was located in Old Town’s The Mark community. This unit has 2,451 square feet and comes with two bedrooms and two and one-half bathrooms. The asking price was $1,000,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were two pending sales at the end of the month, one in each city.
The first was a carryover from August. It was a 2,265 square foot, two bedroom, two and one-half bathroom unit at the Scottsdale Waterfront Residences. It had been listed for $1,450,000.
The second pending sale was in the Esplanade Place community in the Biltmore neighborhood. This home had two bedrooms, three bathrooms and 2,978 square feet. It had been listed for $1,300,000 at the time of contract.
LUXURY CONDO SALES FOR SEPTEMBER
There were no luxury condo sales in September.
We saw another slow seasonal month for the luxury condo market in Scottsdale and Phoenix. We do have two sales in the pipeline, but I estimate October will be somewhat quiet 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 10/1/2014 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