– Luxury Condo Sales in Scottsdale and Phoenix – November 2017 –
The following is a report on the luxury condo market in Scottsdale and Phoenix. For the purposes of this report, we are calling any units priced at $1 million or more luxury units.
ACTIVE LISTINGS AT THE END OF NOVEMBER
The number of units for sale remained level between October and November with 53 condos for sale. Thirty-three of the units were located in Scottsdale and the remaining twenty were in Phoenix.
The most expensive unit for sale remained the same. This Scottsdale Waterfront Residences penthouse had three bedrooms and three and one-half bathrooms. It was listed for $3,595,000.
The least expensive units for sale all came in at $1,049,000 and there were three of them. The two in Phoenix were located in the Optima Biltmore community. They were both three bedroom units. The third condo was located 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
November closed out four UCB listings in play. They were evenly divided between the two cities.
- Main Street Place is currently under development, so this has carried over for many months now. Listed for $1,975,000, this condo had 3,563 square feet, three bedrooms and three and one-half bathrooms.
- Scottsdale Waterfront Residences had a UCB. It was a two bedroom, two and one-half bathroom unit with 2,041 square feet. It was on the market for $1,299,000.
- Two Biltmore Estates had a single UCB. It was a three bedroom, three and one-half bathroom, 3,950 square foot unit that was listed for $2,638,000.
- 8 Biltmore/Fairway Lodge gained a UCB in November. This three bedroom, two and one-half bathroom, 2,400 square foot unit was listed for $1,049,000.
*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
November ended with eight pending sales of luxury condos. Seven of them were located in Scottsdale and many of them are in communities still under development.
Pending Condos in Scottsdale
- Three of the eight pending sales were located in the under development Main Street Place. Square footage for these units came in between 2,345 and 2,520. Prices ranged from $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 carryover pendings. One 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.
- Optima Camelview was home to a single pending sale. It was a three bedroom, two and one-half bathroom unit with 3,354 square feet. It was listed for $1,653,000.
- 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 sole pending sale in Phoenix was found in Portland on the Park. This three bedroom, three bathroom, 1,904 square foot unit was on the market for $1,109,500.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were an impressive five sales during the month of November. All of them were in Scottsdale, with the exception of one.
- Phoenix’s sale took place in The Residences at 2211 Camelback. It was a two bedroom, two and one-half bathroom unit with 3,017 square feet. It had been listed for $1,450,000 and sold for $1,425,000.
- Plaza Lofts at Kierland Commons had a sale. The unit had two bedrooms, two bathrooms and 1,593 square feet. It was on the market for $1,200,000 and sold for $1,175,000.
- Scottsdale Waterfront Residences had two sales. One was a two bedroom, two and one-half bathroom, 2,092 square foot unit. It was on the market for $1,350,000. and sold for $1,335,000. The other sale was one of the highest prices sales of 2017. It was a penthouse unit with 3,940 square feet. It had been listed for $3,595,000 and sold for $3,250,000.
- Envy, a newer community in Old Town Scottsdale, had a single sale. It was a two bedroom, two and one-half bathroom unit with 1,995 square feet. It was being sold for $1,289,000 and closed for $1,125,000.
- The final sale in November was in Optima Camelview. It was a three bedroom, two bathroom home with 1,845 square feet. It had been listed for $1,247,000 and ended up closing for $1,225,000.
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 12/1/2017 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