Here are the luxury condo sales numbers for Scottsdale and Phoenix for the month of June 2010. In this analysis, I am classifying the luxury condo market as condominiums for sale with list prices of $1 million or more.
The Phoenix area luxury condo market continues to do well. Averaging just over two sales per month, there were three sales during the month of June. All three sales took place in Scottsdale. The first sale was at Optima Camelview, located in downtown Scottsdale. The sales price was $1,035,000 and it was for a two bedroom, two and one-half bathroom unit with 2,114 square feet. The second sale was at the nearby Scottsdale Waterfront Residences. It was for a two bedroom, two and one–half bathroom unit with 2,469 square feet and it sold for $1,250,000. The final sale was a little further north in the Kierland area. It was at the Kierland Plaza Lofts and the unit had three bedrooms, two and one-half baths and 3,569 square feet. The sales price for this home was $2,150,000. This is the highest sales price we have seen in the Scottsdale condo market this year.
There was one pending sale at the end of June and it was at the Scottsdale Waterfront Residences. This 2,287 square foot unit is listed for $1,290,000 and has two bedrooms, two and one-half baths and 2,287 square feet.
Overall, the month of June was another strong month for the Phoenix and Scottsdale luxury condo market. Four pending sales at the end of May resulted in the successful sale of three condos in June. On a more discouraging note, the presence of one pending sale at the end of June does not bode well for July luxury condo sales.
Additionally, Phoenix condo sales have been sputtering in the second quarter of 2010. Out of 13 total luxury condos sales this year, only four (31%) have been in Phoenix. The rest were all in Scottsdale. And, there was only one luxury condo sale in Phoenix over the last three months. Let’s hope activity picks up again for Phoenix’s luxury condos.
View Scottsdale Waterfront Residences condos for sale
View Optima Camelview condos for sale
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2010 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2010 Heather Tawes Nelson
