– Luxury Condo Sales in Scottsdale and Phoenix – November 2016 –
November was a decent month for the luxury condo market in Scottsdale and Phoenix. Sales were solid and there were still quite a few condos in pending status.
ACTIVE LISTINGS AT THE END OF NOVEMBER
Inventory jumped from 43 to 51, with most of the inventory increase coming from Phoenix. Thirty of the condos were located in Scottsdale and the remaining 21 were located in Phoenix.
The highest priced condo for sale is a carryover from the last few months. It is located the Scottsdale Waterfront Residences community. It is on the market for $4,599,000 and has 4,471 square feet, three bedrooms and three and one-half bathrooms.
The lowest priced luxury condo on the market is in the Esplanade Place development in Phoenix and is a carryover from last month. It has two bedrooms, two bathrooms and 1,904 square feet. Its asking price is $1,000,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Much like last month, eight luxury condos were in pending status as the month came to a close. They were split equally between Scottsdale and Phoenix and many have been in that status for a while as they are still under construction.
Scottsdale Pending Sales
- Main Street Place in Old Town Scottsdale is the first pending unit. It has two bedrooms, two and one-half bathrooms and 2,345 square feet. It was priced at $1,165,000.
- Kierland Plaza Lofts is where another Scottsdale pending sale is located. There are two bedrooms, two and one-half bathrooms and 2,162 square feet. The asking price was $1,745,000.
- The brand new Envy community is home to another pending sale. This unit, priced at $1,375,00, has two bedrooms, two and one-half bathrooms and 1,770 square feet.
- The final pending sale is in the Scottsdale Waterfront Residences. This one has 2,503 square feet, three bedrooms, three and one-half bathrooms. The list price was $1,850,000.
Phoenix Pending Sales
- Two Biltmore Estates has three units in pending status. They are all three and four bedroom units and they ranged in size from 3,950 to 4,877 square feet. The list prices for these condos came in between $2,148,000 to $2,588,000.
- Portland on the Park has the final pending sale in Phoenix. It was listed for $1,031,500 and comes with 2,105 square feet, two bedrooms and three bathrooms.
LUXURY CONDO SALES FOR NOVEMBER 2016
Four luxury condos sold in November, two in each city.
- Phoenix’s two sales were in the Biltmore neighborhood.
- The first sale was in Two Biltmore Estates. It was a three bedroom, three and one-half bathroom unit with 4,877 square feet. It had been pending for many months. Its sales price was $3,097,000 and it had been listed for $3,178,000.
- The second sale was in the Fairway Lodge community. This two bedroom, two and one-half bathroom home had 2,650 square feet. It had been listed for $1,250,000 and sold for $1,050,000.
- Scottsdale’s two sales were in Envy Residences, which was just recently completed. These both closed over asking price as is common in new builds as upgrades are typically selected during the construction process.
- The first sale was for $1,448,784 and it was a two bedroom, two and one-quarter bathroom with 2,274 square feet condo. It had been listed for $1,448,000.
- The second sale was for $1,259,737. This unit had two bedrooms, two and one-quarter bathrooms and 1,993 square feet. It had been on the market for $1,239,000.
November turned out to be a decent sales month for luxury condos in Scottsdale and Phoenix.
Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes