– Luxury Condo Sales in Scottsdale and Phoenix – September 2019 –
It was another decent month for the luxury condo market in Scottsdale and Phoenix. Sales activity stayed relatively steady and four sales closed. Plus, we saw some new activity in communities that have been quiet on the luxury front lately.
In this report, we are looking at condos on the market with an asking price in excess of $1 million.
ACTIVE LISTINGS AT THE END OF SEPTEMBER
Inventory was up at the end of the month. August closed out with forty-one luxury condos for sale and this figure was up to forty-six by the end of September. Typically, we see inventory taper off during this time of year, but we may be seeing this increase due to new product coming onto the market.
Twenty-nine of these condos were located in Scottsdale and the balance of seventeen were in Phoenix.
- The most expensive condo for sale was a double-sized unit with views in all directions at The Residences at 2211 Camelback, It has five bedrooms, five and one-half bathrooms, 6,586 square feet and comes with five parking spots. It was on the market for $2,995,000.
- The least expensive luxury condo for sale carried over from last month. It was located in Optima Kierland and has two bedrooms and bathrooms and 1,663 square feet. Its asking price was $1,019,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
As September came to a close, there were four homes in UCB status.
- Of the four, two were carryovers from last month in the community of Optima Kierland that is currently under development. The first condo had three bedrooms and bathrooms and 1,718 square feet. It was listed for $1,799,995. The second condo had three bedrooms and bathrooms and came in at 2,704 square feet. It was on the market for $2,080,000.
- A new UCB popped up in Main Street Place in Old Town Scottsdale. This two bedroom, two and on half bathroom top unit has 2,472 square feet and an expansive deck. It was listed for $1,175,000.
- The single UCB in Phoenix was at 2 Biltmore Estates. This home had three bedrooms, three and one-half bathrooms and 3,892 square feet. It was on the market for $1,845,000.
*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
September ended with four pending sales in Scottsdale.
- Optima Camelview had two units pending at the end of the month. The first 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 second pending sale was for a three bedroom, two and one-half bathroom unit with 3,347 square feet. Its asking price was $2,200,000.
- Optima Kierland had a pending sale. This home was a three bedroom and bathroom home with 2,018 square feet. It was on the market for $1,939,000.
- The final pending sale in September was in The Mark. This beautifully designed penthouse had three bedrooms, three and one-half bathrooms and 3,552 square feet. Its asking price was $1,895,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were four luxury condo sales in September.
- All of Scottsdale’s sales in September were in ICON Silverleaf.
- The first one was a two bedroom, two and one-half bathroom home with 2,746 square feet. It had been listed for $1,499,000 and sold at list price.
- The second unit had two bedrooms, two and one-half bathrooms and 2,721 square feet. It had been listed for $1,950,000 and sold for $1,890,000.
- The third condo had two bedrooms, two and one-half bathrooms and 2,760 square feet. It had been on the market for $1,764,000 and sold for $1,764,000.
- 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.
- Phoenix’s sale was in the 2 Biltmore Estates community. This condo had three bedrooms, three and one-half bathrooms and 4,817 square feet. Its asking price was $2,374,999 and it sold for $2,100,000.
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 10/1/2019 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