Here are the March 2011 and Q1 2011 results for Scottsdale and Phoenix luxury condo market. I consider the luxury condo market as those condos with asking prices in excess of $1 million.
There was a single pending luxury condo sale at the end of March 2011. It is the same sale that was pending at the end of February. The condo is a 3 bedroom, 3 .5 bathroom, 4,000 square foot unit at The Residences at 2211 Camelback in Phoenix. The asking price was $1,100,000.
There were three luxury condo sales in the month of March. All three sales were in Scottsdale. Two of the sales were at the Scottsdale Waterfront Residences. The first sale was 3 bedroom, 3.5 bathroom, 2,503 square foot unit that sold for $930,000. The other sale was a 2 bedroom, 2.5 bathroom, 2,227 square foot unit that sold for $1,150,000. The third sale in March was at Optima Camelview Residences and was a 3 bedroom, 2 bathroom unit with 2,848 square feet.
Scottsdale and Phoenix Luxury Condo Sales – Q1 2011
Here is a snapshot of luxury condo sales for Q1 2011 in Scottsdale and Phoenix. All six sales took place in Scottsdale. Scottsdale Waterfront Residences and Optima Camelview both had two sales in Q1 and the last two sales were at Safari Drive and The Landmark at Kierland.
March was a strong month for luxury condo sales in Scottsdale and Phoenix. In fact, half of the first quarter’s sales occurred last month. The pending sale was a holdover from February so ideally it should close in April. However, to start the second quarter off on a good note, we need to see a few more units go under contract.
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Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2010 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 © 2011 Heather Tawes Nelson
