Luxury Condo Sales in Scottsdale and Phoenix – March 2017 –
March continued the trend we have been seeing and turned in another great month of sales.
ACTIVE LISTINGS AT THE END OF MARCH
Inventory remained the same at 59, with 37 of the condos for sale being located in Scottsdale and the remaining 22 in Phoenix.
And the least expensive luxury condo for sale was also one we have had in place for a couple of months. It is in Phoenix’s Esplanade Place was listed for $1,000,000.
UCB LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
UCB status means a condo has gone under contract, but the seller has requested that they are accepting backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.
At the end of March, two luxury condos were in UCB status and both were in Scottsdale.
The first was in the Scottsdale Waterfront Residences. It was a two bedroom, two and one-half bathroom, 2,050 square foot unit. It had been listed for $1,495,000.
The other was located in Main Street Place that is currently under construction. The unit has 3,563 square feet and was listed for $1,975,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
March ended with nine pending sales. As I have detailed before, quite a few of these condos are in communities that are being built so they will remain in this status for a while.Seven of the pending sales were located in Phoenix and the remaining four were located in Scottsdale.
Scottsdale Pending Sales
- Three of Scottsdale’s five pending sales were in Main Street Place – Square footage for these ranged between 2,161 and 2,346. They were priced at $1,150,000 (4th floor), $1,165,000 (3rd floor) and $1,975,000 (4th floor).
- Scottsdale Waterfront Residences had a pending sale. It was a 2,503 square foot unit that had been priced at $1,595,000.
- Optima Camelview had a 3,197 square foot condo priced at $1,497,000.
Phoenix Pending Sales
- 8 Biltmore Fairway Lodge had a pending sale on a 2,329 square foot condo priced at $1,149,000.
- Two Biltmore Estates had two pendings. They were a three bedroom and a four bedroom and were 3,950 square feet. They were listed for $2,148,000 and $2,588,000.
- Portland on the Park – This is a long-term pending sale. It was listed for $1,031,500 and has 2,105 square feet.
LUXURY CONDO SALES FOR MARCH 2017
There were a total of seven sales in March, a very strong performance for this market segment.
Scottsdale Luxury Condo Sales
- Kierland Plaza Lofts had two sales. Once was a 2,086 square foot unit that was listed for $1,249,000 and sold for $1,200,000. The other was a 2,884 square foot loft that had been listed for $1,749,000 and sold for $1,700,000.
- There were two sales in the Scottsdale Waterfront Residences. The first was a 2,265 square foot unit that had been listed for $1,595,000. It sold for $1,500,000. The other was a 1,767 square foot unit that had been listed for $1,095,000 and it sold for $1,010,000.
- The final sale in Scottsdale was in Optima Camelview. This 3,680 square foot unit was on the market for $1,300,000 and it sold for $1,200,000.
Phoenix Luxury Condo Sales
- The Residences at 2211 Camelback had a sale. This 2,988 square foot unit was on the market for $1,300,000 and sold for list price.
- The other sale in Phoenix was one that has been under construction for many months and is one of the highest priced condo sales we have seen in a while. This 4,877 square foot home in Two Biltmore Estates was listed for $3,178,000. However, the new owners made some upgrades and it ended up closing for $3,318,000.
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 4/1/2017 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