– Phoenix and Scottsdale AZ Luxury Condo Sales – December 2012 –
Here is the final monthly report for 2012 for the Phoenix and Scottsdale luxury condo market. The year closed out with a very healthy sales figure and a few new pending sales entered the pipeline to carry in to 2013.
For the purposes of this report, I define the Scottsdale and Phoenix luxury condo market as units with asking prices of $1 million and above. The chart below details the sales activity for the entire market as well as for each of the cities.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of the year, there were three pending sales, all of them in Scottsdale. Two were new contracts and one was a carryover from the previous month.
- Two of the three were located at the Kierland Plaza Lofts. The first was a two bedroom, two and one-half bathroom condo on the seventh floor. It had 2,047 square feet and was listed for $1,145,000. The second unit was on the eight floor and had three bedrooms and bathrooms and 2,846 square feet. The asking price was $1,699,000.
- The final pending sale was a carryover from Optima Camelview. It was a three bedroom, two and one-half bathroom unit on the top floor with 3,354 square feet. It had been for sale for $1,399,000.
DECEMBER 2012 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were five luxury condo sales in December, four of which were in the pipeline at the end of November. All of the sales took place in Scottsdale. Update 1/8/13: The sale at East Camelback Condominiums did not close. Therefore, there were four luxury condo sales in December.
- The first sale was at Safari Drive located in downtown Scottsdale. This three bedrooms and bathroom unit with 2,610 square feet had been listed for $1,050,000 and ultimately sold for $935,000.
- The second condo was at Optima Camelview. The fifth floor condo with three bedrooms and two bathrooms had 1,906 square feet. The list price at the time of contract was $1,035,000 and the final sales price was $989,000.
- The Landmark condominiums saw a sale in December as well. The fifth-floor unit had been on the market for $1,290,000 and sold for $1,100,000. It had three bedrooms, two and one-half bathrooms and 2,645 square feet.
- The Scottsdale Waterfront Residences had a sale in December as well. It was a two bedroom, two and one-half bath unit. It had 2,265 square feet and was located on the eighth floor. The list price had been $1,295,000 and the final sales price was $1,100,000.
- UPDATE 1/8/13: This unit came back onto the market, indicating that the sale did not complete as was reported in the MLS. The final sale in December had been under contract for several months as legal issues were taken care of. This was a foreclosed penthouse at East Camelback Condominiums with 5 bedrooms and 8 bathrooms. The square footage was 7,254. It sold for the asking price of $1,250,000, plus undisclosed funds from the buyer.
Overall, December was a great month to close out the year on the luxury condo segment in Scottsdale and Phoenix. The five sales during the month meant it was a great sales month, and going into the new year with three pending sales was a nice way to start things off.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2013 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 home 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 © 2013 Heather Tawes Nelson