Luxury Condo Sales in Scottsdale and Phoenix – April 2017 –
April was another solid month for the Scottsdale and Phoenix luxury condo market.
ACTIVE LISTINGS AT THE END OF APRIL
Inventory dropped by seven to 52. Scottsdale had 36 luxury condos for sale at the end of the month and Phoenix dropped from 22 to 16 luxury condos for sale.
On the other end of the spectrum, the lowest priced luxury condo for sale was located in downtown Scottsdale’s Optima Camelview Village. It has 2,121 square feet and was listed for $1,025,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Similarly to the end of March, there were two luxury condos were in UCB status and both were located in Scottsdale.
The first is a carryover as the community is still being built out. The Main Street Place unit has 3,563 square feet and was on the market for $1,975,000.
The second UCB is located in the Kierland Plaza Lofts community. This two bedroom with 1,663 square feet had been listed for $1,049,000.
*UCB status means a condo has an accepted contract, but the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
And just as we saw in March, there were nine pending sales in the pipeline when April concluded. Many of these condos are located in developments that are under construction, so they will stay showing pending for many months. Five of the pending sales were located in Scottsdale and the other four were in Phoenix.
Scottsdale Pending Sales
- As we have seen for a few months, three of Scottsdale’s five pending sales were in Main Street Place. Square footage for these condos ranges 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).
- Optima Camelview had two pending sales at the end of the month. The first was a four bedroom, three and one-half bathroom unit with 3,680 square feet. It was priced at $1,115,000. The other was a two bedroom, two and one-half bathroom unit with 3,197 square feet. It had been priced at $1,497,000.
Phoenix Pending Sales
- Two Biltmore Estates continued to have two pending sales. 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 also a long-term pending sale. It was listed for $1,031,500 and has 2,105 square feet.
- The Residences at 2211 Camelback – This is a new pending sale. It was a three bedroom, three and one-half bathroom, 4,000 square foot home. It had been on the market for $1,750,000.
LUXURY CONDO SALES FOR APRIL 2017
A total of five luxury condos sold in April.
Scottsdale Luxury Condo Sales
All three of Scottsdale’s sales took place in the Scottsdale Waterfront Residences development.
- One was a 2,503 square foot unit that had been priced at $1,595,000. It sold for $1,500,000.
- The second was a 2,050 square foot unit that had been priced at $1,495,000. It sold for $1,450,000.
- The final sale was a 2,265 square foot unit that had been priced at $1,595,000. It sold for #1,500,000.
Phoenix Luxury Condo Sales
- 8 Biltmore Fairway Lodge had a sale with a 2,329 square foot condo priced at $1,149,000. It ended up closing for $1,070,000.
- Two Biltmore Estates had the other Phoenix sale. This one was a 3,000 square foot unit that had been on the market for $1,798,000 and it sold for $1,700,000.
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 5/1/2017 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