– Luxury Condo Sales in Scottsdale and Phoenix – June 2017 –
June was another strong sales month for the luxury condo market in Scottsdale and Phoenix.
For the purposes of this report, I am including condos for sale with asking prices of $1 million or more.
ACTIVE LISTINGS AT THE END OF JUNE
Inventory stayed more or less level with 45 luxury condos for sale at the end of the month. Of the 45, 28 condos were located in Scottsdale and the remaining 17 were in Phoenix.
The highest priced unit on the market was a carryover from May. It was a Kierland Plaza Lofts unit with over 4,000 square feet. The asking price was $3,875,000.
The lowest priced luxury unit was in the Fairway Lodge community in the Biltmore. Listed for $1 million this unit had two bedrooms, two and one-half bathrooms and 2,704 square feet.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
The same units that were UCB at the end of May remained in that status throughout June.
The first was located in Main Street Place. This unit had 3,563 square feet and was on the market for $1,975,000.
The second was located in Two Biltmore Estates in Phoenix. It was a three bedroom, three and one-half bathroom unit with 3,332 square feet. The asking price was $1,9998,000.
*UCB status means a condo has an accepted contract, but that 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
As June wrapped up, there were four luxury condos in pending status and all of them were located in Scottsdale.
- Three of the four are carryovers in Main Street Place. Main Street Place is under construction so they should remain in this status for the time being. Square footage for these condos was 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).
- The last pending sale was also a carryover. This home was located the Landmark community. Listed at $1,479,000, it had 3,082 square feet, three bedrooms and two and one-half bathrooms.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Five luxury condos sold in June.
Scottsdale Luxury Condo Sales
- All three of Scottsdale’s sales were in the same community, the Plaza Lofts at Kierland.
- A two bedroom, two bathroom, 1,663 square foot unit sold for $980,000. It had been listed for $1,049,000.
- A two bedroom, two and one-half bathroom, 2,090 square foot unit sold for $1,600,000. It had been listed for $1,675,000.
- A two bedroom, two bathroom, 1,636 square foot unit sold for $1,180,000. It had been listed for $1,300,000.
Phoenix Luxury Condo Sales
- Two Biltmore Estates had a single sale. This unit had four bedrooms, three and one-half bathrooms and 3,950 square feet. It was listed for $2,148,000 and sold for $2,150,000.
- The Residences at 2211 Camelback was home to the second sale. It had three bedrooms, three and one-half bathrooms and was 4,000 square feet. It had been listed for $1,750,000 and sold for $1,550,000.
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 7/1/2017 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 maybe 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