– Luxury Condo Sales in Scottsdale and Phoenix – December 2016 –
The Scottsdale and Phoenix luxury condo market closed out the year with a solid performance and plenty of pending inventory was carried into the new year.
ACTIVE LISTINGS AT THE END OF DECEMBER
Inventory was up again. At the end of November, there were 51 units listed. At the end of December, there were 56. Thirty-three of these were in Scottsdale and the balance of twenty-three were located in Phoenix.
The most expensive condo for sale continued to be the 4,471 square foot unit at Scottsdale Waterfront Residences. It is listed for $4,599,000.
The least expensive unit was priced at $1,000,000. It came onto the market in late December.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
December ended the month with eleven pending sales. Many of these are units that are under construction and are just awaiting completion. However, there were also quite a few new pending sales. Seven of the pending sales were located in Phoenix and the remaining four were located in Scottsdale.
Scottsdale Pending Sales
- Main Street Place – Two condos in this new development were pending at the end of the month. Both come in at 2,345 square feet and the prices at the time they went pending were $1,165,000 (3rd floor) and $1,975,000 (4th floor).
- Envy – This new community had a single pending sale. It had 1,770 square feet, two bedrooms, two and one-half bathrooms. Its price was $1,375,000.
- The fourth pending sale was in the perennially popular Optima Camelview Village. This three bedroom, two and one-half bathroom unit with 2,286 square feet was listed for $1,149,000.
Phoenix Pending Sales
- Two Biltmore Estates – There were four luxury condos pending sale. Three of these have been in this status for a while as construction completes and a new one was added in December. 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 – This is another carryover that has been in construction for a while. Its asking price was $1,031,500 and it has 2,105 square feet, two bedrooms and three bathrooms.
- Esplanade Place – This is a new pending sale. This home has three bedrooms and bathrooms and 3,350 square feet. It was listed for $2,150,000.
- The Residences at 2211 Camelback – This is another new pending. This luxury condo has two bedrooms, two and three-quarters bathrooms and 2,988 square feet. It had been on the market for $1,300,000.
LUXURY CONDO SALES FOR DECEMBER 2016
There were four total luxury condo sales in December, with three of these sales coming from Scottsdale.
- Kierland Plaza Lofts – This two bedroom, two and one-half bathroom, 2,162 square foot condo sold for the list price of $1,745,000.
- Envy Residences – This new community had another sale. It was a two bedroom, two and one-quarter bathroom home with 2,274 square feet. It had been on the market for $1,448,000 and sold for $1,462,242. (You see new builds selling over list when the new buyers add upgrades.)
- The Enclave at the Borgata – This brand new community in Scottsdale posted a sale in December. This was for a three bedroom, three and one-half bathroom home with 3,016 square feet. It had been listed for$1,872,034 and sold for list price.
- Esplanade Place – This was Phoenix’s single sale in December. It was a three bedroom and bathroom luxury condo with 3,350 square feet. It had been listed for $2,250,000 and sold for list price.
The final month of the year was a good on for Scottsdale and Phoenix luxury condo sales. I look forward to seeing how this segment performs in 2017.
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 1/1/2017 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 © 2017 Heather Tawes Nelson | Joyce Tawes