– Luxury Condo Sales in Scottsdale and Phoenix – November 2014 –
October’s momentum carried on over into November. In Scottsdale and Phoenix there were six sales of luxury condos last month, one of the highest sales months we have seen in a while.
I am defining luxury condos as those on the market for over a million dollars.
ACTIVE LISTINGS AT THE END OF NOVEMBER
Inventory was up to thirty-five condos on the market at the end of November. This is pretty common to see as homeowners may elect to take their units off of the market in the slower summer months and then re-list them as we move into the high season.
The most expensive condo on the market was an incredible penthouse in The Landmark in the Kierland neighborhood. This home had three bedrooms, three bathrooms and 4,480 square feet. It had been previously listed for well over $3 million, but after a price reduction, it was listed for $2,975,000.
The least expensive unit on the market was in the Kierland Plaza Lofts in North Scottsdale. It was a two bedroom, two bathroom unit with 1,664 square feet. The asking price was $1,049,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of November, there two pending sales. The first was in Optima Camelview Village and had been on the market for $1,295,000. The second pending unit was in The Residences at 2211 Camelback and it had been listed for $2,300,000.s
LUXURY CONDO SALES FOR NOVEMBER 2014
A total of six luxury condos sold in November, which was an outstanding performance. Five sales took place in Scottsdale and the final sale was in Phoenix.
Scottsdale Sales:
- Optima Camelview Village – Three bedrooms, two and one-half bathrooms, 2,599 square feet on the third floor. Listed for $1,200,000 and sold for $1,100,000 in a cash transaction.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,102 square feet on the 11th floor. Listed for $1,250,000 and sold for $1,145,000.
- Plaza Lofts at Kierland – Two bedrooms, two and one-half bathrooms and 2,086 square feet. Listed for $1,195,000 and sold for $1,150,000 in a cash transaction.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,265 square feet on the 9th floor. Listed for $1,450,000 and sold for $1,300,000.
- The Landmark in Kierland – Four bedrooms, three bathrooms, 3,946 square foot penthouse. Listed for $2,499,000 and sold for $2,300,000 in a cash transaction.
Phoenix Sale:
- The single sale in Phoenix was for a lovely unit at Esplanade Place in the Biltmore corridor. It had three bedrooms, four bathrooms ans 4,286 square feet. It had been listed for $2,395,000 and sold for $2,050,000 in a cash transaction.
November was an excellent month for luxury condo sales in Scottsdale and Phoenix. We saw a large sales number and there were still two sales in the pipeline. Inventory was up, but that is to be expected at this time of year.
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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 12/1/2014 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
