– Luxury Condo Sales in Scottsdale and Phoenix – March 2015 –
arch was another strong month for the luxury condo market in Phoenix and Scottsdale. Now that we are in our high season, we are seeing quite a bit of movement in this category.
In this report, I am looking at condos for sale with asking prices of $1 million or more.
ACTIVE LISTINGS AT THE END OF MARCH
Inventory decreased by the end of March, down to 41 from 45 at the end of February. Nineteen of the units for sale were in Scottsdale and the other twenty-two were located in Phoenix.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pending sales saw a large rebound in March. We started with month with a single pending sale and ended it with six pending sales. Five of these were in Phoenix and the remaining one was in Scottsdale.
Phoenix Pending Sales
- Two of the pending condos in March were in a community that has not appeared in this series before. They are located in a community in downtown Phoenix called Portland on the Park. The first unit had two bedrooms, three baths and 1,646 square feet. It was listed for $1,031,500. The other unit had three bedrooms and bathrooms and 2,490 square feet. It had been listed for $1,216,400.
- Fairway Lodge at 8 Biltmore had a single pending sale with a list price of $1,150,000. This unit had three bedrooms, two and one-half bathrooms and 2,329 square feet.
- The Residences at 2211 Camelback was home to another pending sale. This condo had 3,000 square feet and three bedrooms and bathrooms. It had been priced at $1,695,000.
- The final pending sale was at Two Biltmore Estates. Listed for $1,878,000, this home had four bedrooms, four and one-half bathrooms and 3,580 square feet.
Scottsdale Pending Sales
- The pending luxury condo sale in Scottsdale was located in the Scottsdale Waterfront Residences community. It had three bedrooms, three and one-half bathrooms and 2,975 square feet. The asking price was $1,850,000.
LUXURY CONDO SALES FOR MARCH 2015
March had two luxury condo sales and they both took place in the Scottsdale Waterfront Residences community.
The first sale was pending at the end of February. It had 2,232 square feet, two bedrooms and two and one-half bathrooms. It had been listed for $1,279,000 and sold for $1,260,000.
The other sale was for a similar condo with 2,070 square feet. The asking price had been $1,599,000 and it closed for $1,475,000.
Overall, the Scottsdale and Phoenix luxury condo market had another strong month. With all of the pending activity, sales for April should be excellent.
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 4/1/2015 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