– Luxury Condo Sales in Scottsdale and Phoenix – December 2017 –
Here is the final report of the year for the Scottsdale and Phoenix luxury condo markets. In this report, we look at the sales activity For the purposes of this report, we are looking at sales activity of condos priced at and over $1 million.
ACTIVE LISTINGS AT THE END OF DECEMBER
Inventory jumped by seven as of January 1st. Thirty-seven of the units were located in Scottsdale and the remaining twenty-three were in Phoenix.
The most expensive unit for sale was listed for $2,750,000. This home is located in the revamped Landmark community in the Kierland area. It had three bedrooms, three and one-half bathrooms and 4,471 square feet.
The least expensive unit for sale was listed for $1 million. It was located in Phoenix in the Regency House Condos and had three bedrooms, two bathrooms and 2,650 square feet.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
December closed out with two UCB condos and both were located in Scottsdale.
- 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.
- Optima Camelview had the other UCB. This unit had three bedrooms, three and one-half bathrooms and $2,299 square feet. It had been on the market for $1,549,000.
*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
December ended with nine pending sales of luxury condos. Eight of them were located in Scottsdale and many of them are in communities still under development.
Pending Condos in Scottsdale
- What had been the most expensive listing for many months went pending in December. It was a Scottsdale Waterfront Residences penthouse with three bedrooms and three and one-half bathrooms. It had been on the market for $3,595,000.
- Scottsdale Waterfront Residences had another pending sale. It was a three bedroom, three and one-half bathroom unit with 2,503 square feet. It was on the market for $1,499,000.
- Three of the eight pending sales were in Main Street Place and have been in this status for many months. 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, also had two carryover pendings. The first unit had two bedrooms, two and one-half bathrooms and 2,283 square feet. It was listed for $1,653,000. The second unit was a three bedroom, three bathroom, 1,706 square foot home. It was on the market for $1,075,000.
- The final pending sale was in Optima Camelview. This unit had three bedrooms, two bathrooms and 2,258 square feet. It had been listed for $1,290,000
Pending Condo in Phoenix
- The sole pending sale in Phoenix was found in Portland on the Park. This rollover from previous months had three bedroom, three bathrooms and 1,904 square feet. It was listed for $1,109,500.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
December ended the year with a very solid sales count of six.
Scottsdale Luxury Condo Sales
- The Enclave at Borgata had a single sale. This unit had three bedrooms, three and one-half bathrooms and 2,765 square feet. It was on the market for $1,820,572 and sold for list price
- Optima Camelview was home to another sale. It was a three bedroom, two and one-half bathroom unit with 3,354 square feet. It was listed for $1,799,000 and sold for $1,700,000.
- The final two sales were in Scottsdale Waterfront Residences. Both were two bedroom, two and one-half bathroom units. The 1,659 square foot unit had been listed for $1,199,000 and sold for $1,190,000. The 2,041 square foot unit had been listed for $1,299,000 and sold for $1,200,000.
Phoenix Luxury Condo Sales
- Two Biltmore Estates had a sale. This three bedroom, three and one-half bathroom, 3,950 square foot unit had been listed for $2,638,000 and sold for $2,508,000.
- 8 Biltmore/Fairway Lodge was the other sale in Phoenix. It was a three bedroom, two and one-half bathroom, 2,400 square foot unit. It had been on the market for $1,049,000 and sold for $1,017,500.
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 1/1/2018 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 © 2018 Heather Tawes Nelson | Joyce Tawes