Here is a very quick snapshot of the Valley’s luxury condo market performance in February of 2009. I define the luxury condo market as condos with asking prices in excess of $1 million dollars. These condos can be found in Scottsdale, Phoenix and Tempe.
It was a slow month for this segment of the market. There were no sales and there was only one pending sale. The one pending sale was a 3 bedroom, 3 bathroom, 3,550 square foot unit at Esplanade Place in Phoenix.
February 2009:
Active Units on the Market: 99
Sale Pending: 1
Sold: 0
Average Asking Price: $1,739,858
Average Square Feet: 2,652
Average Asking Price per Square Foot: $663.42
Lowest Priced Unit: $1,000,000
Highest Priced Unit: $4,250,000
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2009 and can change at any time. The analysis looks at resale condo activity in Scottsdale. There may be new condo inventory in these figures if the developer is using the MLS to market its condos.
Copyright © 2009 Heather Tawes Nelson
