– Phoenix and Scottsdale AZ Luxury Condo Sales – January 2013 –
The Phoenix and Scottsdale luxury condo market had a positive January 2013. During the month, four luxury condos sold and two units were pending sale at the end of the month. Inventory also dropped, partially as a result of sales and listings that expired.
I am defining the Phoenix and Scottsdale luxury condo market as condos for sale with asking prices in excess of $1 million.
Below is a chart depicting luxury condo sales activity in January for all luxury condos as well as in Scottsdale and Phoenix.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of January, two pending sales were in the pipeline. The first one is one that was a carryover from December and the second was a new one.
- A two bedroom, two and one-half bathroom condo on the seventh floor at Kierland Plaza Lofts is the first pending sale. This 2,047 square foot unit was listed for $1,145,000 when went under contract.
- The new pending sale was at the Scottsdale Waterfront Residences. This ultra-luxury unit has 3,751 square feet, two bedrooms and four bathrooms. The list price at time of contract was $3,500,000.
JANUARY 2013 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Four luxury condos sold in January and all of the sales took place in Scottsdale.
- The first sale of the month was at Optima Camelview Village. This top floor until sold for asking price at $1,399,000. It had three bedrooms, two and one-half bathrooms and 3,354 square feet.
- The second sale was a three bedroom, three bathroom, 2,846 square foot unit on the 8th floor at Kierland Plaza Lofts.The list price was $1,699,000 and it ultimately sold for $1,635,000.
- The third sale in January occurred at The Mark, in Old Town Scottsdale. This penthouse with three bedrooms, three and one-half bathrooms and 2,122 square feet sold for $950,000. The asking price had been $1,060,000.
- The final sale of the month was the second most expensive condo sale since the MLS began tracking. This penthouse at the Scottsdale Waterfront Residences sold for $3,600,000, which was $200,000 off the asking price of $3,800,000. In addition to the penthouse and an expansive deck, this unit came with a separate guest suite complete with laundry and a full kitchen.
The luxury condo market in Scottsdale and Phoenix got off to a strong start. All of the activity in January took place in Scottsdale, so hopefully Phoenix will see some action in February. There is now very low inventory for these condos, so we may see constrained sales in February.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2013 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