– Luxury Condo Sales in Scottsdale and Phoenix – August 2019 –
The luxury condo market in Scottsdale and Phoenix had a very active August. Typically, we see a slowdown during this time of year, so to see strong sales activity is welcome.
For the purposes of this report, all condos with list prices of $1 million or more are being considered luxury condos.
ACTIVE LISTINGS AT THE END OF AUGUST
At the end of August, there were forty-one luxury condos actively for sale. (In comparison, there were fifty-six for sale at the end of June.) Twenty-seven of them were in Scottsdale and the remaining fourteen were in Phoenix.
- The most expensive listing was a carryover from last month. It is a new build under construction at Optima Kierland. It has four bedrooms, four bathrooms and 5,042 square feet. It is on the market for $3,675,000.
- The lowest-priced luxury condo was also located in Optima Kierland. It is ready for occupancy and has two bedrooms and bathrooms and 1,663 square feet. It was listed for $1,019,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were an impressive five condos showing UCB status at the end of August.
- Two of the UCB condos were located in Optima Kierland. The first was a three bedroom and bathroom unit with 1,718 square feet. Its asking price was $1799,995. The other unit also had three bedrooms and bathrooms and had 2,704 square feet. It was listed for $2,080,000.
- Optima Camelview had one condo in UCB status. This was a two bedroom, two and one-half bathroom home with 3,197 square feet. It was on the market for $1,495,000.
- The Residences at 2211 Camelback had a single UCB. The home had three bedrooms and bathrooms and came in at 3,000 square feet. It was listed for $1,275,000.
- The final UCB was at 2 Biltmore Estates in Phoenix. This home had three bedrooms, three and one-half bathrooms and 4,817 square feet. Its asking price was $2,499,000.
*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
There were four pending sales at the end of the August and they were all located in Scottsdale.
- Two of the pendings were located at the under development ICON Silverleaf. The first one was a two bedroom, two and one-half bathroom home with 2,746 square feet and was listed for $1,499,000. The second unit had two bedrooms, two and one-half bathrooms and 2,721 square feet. It was on the market for $1,950,000.
- Optima Kierland’s pending sale was a three bedroom and bathroom home with 2,018 square feet. It was listed for $1,939,000.
- The final pending sale in August was at Optima Camelview. It was a three bedroom, two and one-half bathroom unit with 3,347 square feet. Its asking price was $2,200,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were three sales of luxury condos in August.
- The first sale was in Optima Camelview. It had two bedrooms and two and one-half bathrooms and 2,114 square feet. It had been listed for $1,149,000 and sold for $1,100,000.
- A penthouse with fantastic views at Portland on the Park sold in August. It had three bedrooms and bathrooms and 1,940 square feet. It had been on the market for $1,139,000 and sold for $1,095,000.
- The final sale of the month took place in The Residences at 2211 Camelback. This home had three bedrooms and bathrooms and 3,000 square feet. It had been on the market for $1,499,000 and sold for $1,425,000.
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 9/1/2019 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 © 2019 Heather Tawes Nelson | Joyce Tawes