- Phoenix and Scottsdale AZ Luxury Condo Sales – January 2014 -
Here are the stats for the first month of 2014 for the luxury condo market in Scottsdale and Phoenix.
For this analysis, I looked at any condominiums with an asking price of more than $1 million.
ACTIVE LISTINGS AT THE END OF JANUARY
At the end of January, there were twenty-seven luxury condos on the market. This figure has remained flat in the past several months and did not increase dramatically as we saw in other segments of the market. Nineteen of the twenty-seven condos were located in Scottsdale, with the remaining eight being located in Phoenix.
At the end of the month, the most expensive condo on the market remained the same from December. It is a breathtaking, large penthouse in The Landmark, located in the Kierland area. It had three bedrooms, three and one-half bathrooms and 4,480 square feet. The list price was $3,700,000.
The least expensive condo for sale also stayed the same from the end of 2013. This condo was located in The Mark complex in Old Town Scottsdale. This unit had 2,451 square feet and two bedrooms and two and one-half bathrooms. The asking price was $1,000,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of the month, there were two pending sales and both of them were in Scottsdale.
The first was at Main Street Plaza, a community in the heart of Downtown Scottsdale. The 3,440 square foot unit was priced at $1,185,000. The other pending sale was in the popular Scottsdale Waterfront Residences. The asking price on this one was $1,395,000 for 3,440 square feet.
LUXURY CONDO SALES FOR JANUARY
The first month of the year posted three luxury condo sales in Scottsdale and none in Phoenix.
Two of the sales were in The Landmark. A three bedroom, two and three-quarter bathroom unit with 2,591 square feet on the fourth floor sold for $1,036,000. It had been listed for $1,149,000 and sold for cash. The second sale in The Landmark was a 2,690 square foot unit with three bedrooms and bathrooms. The asking price had been $1,299,000 and it sold for cash for $1,150,000.
The final sale in January was at the Scottsdale Waterfront Residences. The sales price was $1,335,000, slightly off of the $1,375,000 asking price and the unit sold for cash. This unit had 2,117 square feet, two bedrooms and two and one-half bathrooms.
January was solid month for the luxury condo market in Phoenix and Scottsdale. We saw inventory holding steady along with good pending and sales figures.
Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2014 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 © 2014 Heather Tawes Nelson | Joyce Tawes