– Luxury Condo Sales in Scottsdale and Phoenix – December 2014 –
For the purposes of this update, I am defining the luxury condo market as units for sale with an asking price of $1 million or more.
ACTIVE LISTINGS AT THE END OF DECEMBER
Inventory edged up by one to thirty-six units for sale at the end of the month. Scottsdale and Phoenix each had eighteen listings.
The highest priced listing remained the incredible penthouse in The Landmark. Located in the heart of Kierland, the penthouse had 4,480 square feet with three bedrooms and three bathrooms.
The Kierland Plaza Lofts in Scottsdale continued to have the lowest priced unit at $1,049,000. The condo had 1,664 square feet, two bedrooms and two bathrooms.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were two pending sales as we wrapped up the year, one in each city.
In Scottsdale, the condo was in Optima Camelview Village. It had three bedrooms, three bathrooms and 3,005 square feet and was listed for $1,250,000.
In Phoenix, the other pending sale was in The Residences at 2211 Camelback. This home had three bedrooms, three and one-half bathrooms and 3,904 square feet. It had been offered for $1,874,000.
LUXURY CONDO SALES FOR DECEMBER 2014
Two sales took place in December, again, one in each city.
The first one to close was at Optima Camelview Village in Scottsdale. The 3,197 square foot condo had two bedrooms and two and one-half bathrooms.It had been listed for $1,295,000 and ultimately sold for $1,200,000.
The second condo sale occurred in the Two Biltmore Estates community in Phoenix. This expansive 4,817 square foot home with three bedrooms and three and one-half bathrooms sold for $2,650,000. It had been listed for $2,750,000.
Overall the Scottsdale and Phoenix luxury condo market had a decent final month of 2014. Inventory stayed level and two sales closed. The two pending sales should carry over to January and help sales for that 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 1/1/2015 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 © 2015 Heather Tawes Nelson | Joyce Tawes