– Phoenix and Scottsdale AZ Luxury Condo Sales –March 2014 –
This analysis covers the Scottsdale and Phoenix luxury condo market. For the purposes of this report, I am defining luxury condos are those with an asking price of $1 million or above.
March 2014 was a disappointing sales month for this segment, but there are a good amount of pending sales that should help in April.
ACTIVE LISTINGS AT THE END OF MARCH
The number of luxury condos for sale increased slightly over February. We went from thirty-five listings to thirty-seven. Of the units listed, twenty-seven are located in Scottsdale and the other ten are in Phoenix.
The most expensive condo on the market continued to be a penthouse at The Landmark located in the popular Kierland community. It was listed for $3,700,000 and has 4,480,square feet with three bedrooms and three and one-half bathrooms.
The least expensive condo on the market was also the same. It was in downtown Scottsdale in the The Mark community. It was listed for $1,000,000 and has two bedrooms, two and one-half bathrooms and 2,451 square feet.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were four pending sales at the end of March and all of them were in Scottsdale.
Two of these pending sales were holdovers from the previous month. The first was located at the Main Street Plaza in Downtown Scottsdale. It was listed for $1,185,000 for 2,227 square feet. The second was at the Scottsdale Waterfront Residences. It was listed for $1,395,000 for 3,440 square feet.
The two newer pending sales were in the Scottsdale Waterfront Residences as well. The first one was a 2,227 square foot unit listed for $1,495,000 and the other was a 2,474 square foot unit listed for $1,799,000.
LUXURY CONDO SALES FOR MARCH
There were no sales in Scottsdale or Phoenix in March.
LUXURY CONDO SALES FOR Q1 2014
Here are the sales statistics for the first quarter of 2014. Five luxury condos in all sold with an average sales price hovering close to $1.2 million.
March was a poor sales month for the luxury condo market in Scottsdale and Phoenix, as nothing sold. However, there are four pending sales, which should mean a better April.
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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 4/1/2014 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 may 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 © 2014 Heather Tawes Nelson | Joyce Tawes
