– Luxury Condo Sales in Scottsdale and Phoenix – August 2017 –
August was another quiet, but decent month for the luxury condo market in Scottsdale and Phoenix.
This analysis covers luxury condos in Scottsdale and Phoenix with prices above $1 million.
ACTIVE LISTINGS AT THE END OF AUGUST
There were 49 units for sale at the end of August, a jump of six from the end of July. Twenty-nine of the units were in Scottsdale and the remaining twenty were in Phoenix.
The most expensive unit for sale during August has held this title since May. Is it is a 4,000+ square foot penthouse in the Plaza Lofts at Kierland and it was for sale for $3,750,000.
The least expensive luxury condo for sale was also a carryover. This unit came with two bedrooms, two and one-half bathrooms and 2,704 square feet. It was located in the Fairway Lodge community and was listed for $1,049,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
August ended with two condos in UCB status, both located in Scottsdale.
- The first was at Main Street Place, a community currently under construction. This unit had 3,563 square feet and was priced at $1,975,000.
- The second was at Kierland’s Landmark. It was a three bedroom and bathroom home with 2,690 square feet and was on the market for $1,395,000.
*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
At the end of August, there were eight luxury condos in pending status.
Pending Condos in Scottsdale
- Four of the eight pendings were located in Main Street Place. Main Street Place is currently under construction, so these will remain as pending until completion. Square footage for these was between 2,161 and 2,520. They were priced at $1,150,000 (4th floor), $1,165,000 (3rd floor), $1,300,000 (2nd floor) and $1,975,000 (4th floor).
- Optima Kierland, a new luxury development, is home to another pending sale that carried over from last month. This unit had two bedrooms, two and one-half bathrooms and 2,283 square feet. It was listed for $1,653,000.
- The last pending is also a carryover and is located within the Enclave at Borgata. This unit was a three bedroom, three and one-half bathroom home with 2,765 square feet. It was ont he market for $1,820,572.
Pending Condos in Phoenix
- One of the two pendings in Phoenix was located in the Two Biltmore Estates community. This unit was a three bedroom, three and one-half bathroom unit with 3,950 square feet. It was on the market for $2,248,000.
- The other pending was in the Portland on the Park community. It was a three bedroom, three bathroom, 1,940 square foot unit. The asking price was $1,802,500.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Two luxury condos sold in August, one in each city.
The first sale was in Scottsdale’s Landmark community. It had 3,082 square feet, three bedrooms and two and one-half bathrooms. It had been listed for $1,479,000 and sold for a large discount at $1,200,000.
The second sale was in Two Biltmore Estates. It was a 3,332 square foot home with three bedrooms and three and one-half bathrooms. The asking price was $1,988,000 and it sold for $1,950,000.
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 9/1/2017 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