Here are the most recent figures for the Phoenix and Scottsdale luxury condo market. For the purposes of this report, luxury condos are defined as condos for sale with list prices in excess of $1 million.
Pending Luxury Condo Sales – At the end of the month, there were two pending sales of luxury condos. One of them has been pending for several months now. It is a three bedroom, three and one-half bathroom, 4,000 square foot unit at The Residences at 2211 Camelback. When it went pending, the asking price was $1,100,000. The second pending sale is at The Landmark in the Kierland area of Scottsdale. It was a three bedroom, two and one-half bathroom unit with 2,688 square feet. The list price on this unit was $1,082,000.
June 2011 Luxury Condo Sales – Two luxury condo units sold in June. The first was in the elegant Two Biltmore Estates community in Phoenix. This condo was a ground-floor, 3 bedroom, 3.5 bathroom, 3,560 square foot unit that was listed for $1,395,000. It closed for $1,210,000. The second luxury condo sale was at the Scottsdale Waterfront. This two bedroom, two and one-half bathroom, 2,287 square foot unit sold in just under a month. The asking price had been $1,199,990 and it sold for $1,100,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX – FIRST AND SECOND QUARTERS 2011
Luxury condo sales have been averaging about 2 sales per month so far in 2011. There was one fewer sale in Q2, but the sale of a $2.2M condo helped bring up the average sales price and price per square foot figures. Communities that saw sales in 2011 include: Optima Camelview, Scottsdale Waterfront Residences, Kierland Plaza Lofts, Safari Drive and The Landmark (all in Scottsdale) as well as The Residences at 2211 Camelback, Esplanade Place and Two Biltmore Estates in Phoenix.
Overall, June was another decent month for the luxury condo market in Scottsdale and Phoenix. Sales were on pace with what we have been seeing and the presence of pending sales indicates that July may also be on track.
Learn More About Phoenix and Scottsdale Luxury Condos
Search Phoenix and Scottsdale Luxury 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 past 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
