– Luxury Condo Sales in Scottsdale and Phoenix – September 2017 –
The luxury condo market in Scottsdale and Phoenix had another decent month of sales activity in September. For the purposes of this report, I am defining the luxury condo market as those units with list prices over a million dollars.
ACTIVE LISTINGS AT THE END OF SEPTEMBER
There were 48 condos on the markets at the end of September, a drop of one compared to the end of August. They were pretty equally split between the two cities with twenty-six in Scottsdale and twenty-two in Phoenix.
The most expensive unit on the market has held this spot since the early summer. This penthouse was located in the Plaza Lofts at Kierland and has 4,000+ square feet. The asking price was $3,750,000.
There were two units that came in as the least expensive luxury units for sale and they were priced at $1,049,000. The first was a carryover from Phoenix’s Fairway Lodge. It had two bedrooms, two and one-half bathrooms and 2,704 square feet. The other unit was in Scottsdale’s Optima Camelview. This home had three bedrooms, two bathrooms and 2,200 square feet.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were two condos in UCB status when September concluded and both were located in Scottsdale.
- The first was a carryover at Main Street Place, which is still being built out. Priced at $1,975,000, this condo had 3,563 square feet, three bedrooms and three and one-half bathrooms.
- The second was located in Optima Camelview and was listed for $1,247,000. This condo had three bedrooms and two bathrooms.
*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 September, there were eight luxury condos in pending status. Seven of the eight were located in Scottsdale and the bulk of them are carryovers as a result of communities still under construction.
Pending Condos in Scottsdale
- Four of the eight pendings were still under construction at Main Street Place. Square footage for these units came in between 2,161 and 2,520. Prices ranged from $1,150,000 (4th floor), to $1,165,000 (3rd floor), to $1,300,000 (2nd floor) and to $1,975,000 (4th floor).
- Optima Kierland, a new luxury development, ended the month with two pending sales. One was a carryover and had two bedrooms, two and one-half bathrooms and 2,283 square feet. It was listed for $1,653,000. The other was a three bedroom, three bathroom, 1,706 square foot home. It was on the market for $1,075,000.
- The final pending is a carryover at the Enclave at Borgata. Still being built, this condo had three bedrooms, three and one-half bathrooms and 2,765 square feet. It was on the market for $1,820,572.
Pending Condo in Phoenix
- The single pending sale in Phoenix was located in the Two Biltmore Estates community. This condo had three bedrooms, three and one-half bathrooms and 3,960 square feet. The asking price was $2,195,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Three luxury condos sold during the month of September. Two were in Phoenix and the last one was in Scottsdale.
- Two Biltmore Estates was the first sale. It was a three bedroom, three and one-half bathroom unit with 3,950 square feet. It had been on the market for $2,248,000 and sold for $2,188,000.
- Portland on the Park had a luxury condo sale in September. The unit was a three bedroom, three bathroom, 1,940 square foot home. The asking price was $1,082,500 and it sold for $869,500.
- Kierland’s Landmark was the location of Scottsdale’s sale. This condo had three bedrooms and bathrooms and 2,690 square feet. It had been listed for $1,395,000 and sold for $1,200,000.
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 10/1/2017 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