– Phoenix and Scottsdale AZ Luxury Condo Sales – November 2013 –
After an incredible month for luxury condo sales in Scottsdale and Phoenix, the pace stabilized back to more normal levels in November.
In this analysis, I am looking at the sales activity for luxury condos in Phoenix and Scottsdale. I am defining luxury condos as those with asking prices in excess of $1 million.
ACTIVE LISTINGS AT THE END OF NOVEMBER
Inventory remained pretty stable between October and November. At the end of the month, there were 27 luxury condos for sale. Seventeen of these were located in Scottsdale and the remaining ten were in Phoenix.
The Scottsdale Waterfront Residences is home to the most expensive unit for sale. It is a penthouse with two bedrooms, two and one-half bathrooms and 3,3,63 square feet. It is listed for $3,695,000.
The least expensive condo for sale at the end of the month was a condo at The Mark in Old Town Scottsdale. It has two bedrooms, two and one-half bathrooms and 2,451 square feet. Its asking price is $1,000,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of November, there were three pending condo sales, two in Scottsdale and one in Phoenix.
The Scottsdale pending sales were at The Landmark in North Scottsdale and the other is a special property that is on and off the market. This particular condo is the entire top floor of a commercial building and has special requirements for sale.
The pending sale in Phoenix was a sixth floor unit at The Residences at 2211 Camelback, in the Biltmore area.
LUXURY CONDO SALES FOR NOVEMBER
There were two sales in November, which is a solid figure for this market segment.
The first sale was at the Scottsdale Waterfront Residences. It had two bedrooms and a den, two and one-half bathrooms and 2,227 square feet. The asking price had been $1,299,000 and it sold for $1,2375,000.
The second sales in November was at the Kierland Plaza Lofts. It had three bedrooms, three bathrooms and 2,802 square feet. It had been listed for $1,689,000 and it ended up selling for $1,600,000.
In summary, November was a solid month for luxury condo sales in the cities of Scottsdale and Phoenix. And, with a couple of pending sales in the pipeline, the month of December should cap off the year with a decent month as well.
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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 12/1/2013 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 November 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 © 2013 Heather Tawes Nelson
