– Luxury Condo Sales in Scottsdale and Phoenix – October 2014-
Things picked up a bit for the local luxury condo market in October after a very quiet September.
For this report, we will be looking at condos with list prices of over $1 million.
ACTIVE LISTINGS AT THE END OF OCTOBER
Inventory was pretty level with regards to the previous month. There were 27 units on the market with twelve of them located in Scottsdale and the remaining fifteen in Phoenix.
The most expensive condo on the market was at The Residences at 2211 Camelback in the Biltmore corridor. It was a three bedroom, three and one-half bathroom, 4,000 square foot unit on the 12th floor. The asking price was $3,000,000.
The least expensive unit for sale was in The Mark development in Downtown Scottsdale. This condo came with two bedrooms and two and one-half bathrooms, 2,451 square feet direct elevator access. It was listed for $1 million.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of October, there were four pending sales. Three of them were in Scottsdale and the last one was in Phoenix.
Of the three in Scottsdale, two of these units were located in the Scottsdale Waterfront Residences. Their list prices at time of contract were $2,499,000 and $1,450,000 respectively. The final pending sale was in Optima Camelview Village. It had been priced at $1,200,000.
The pending sale in Phoenix was in the Two Biltmore Estates community, adjacent to the Arizona Biltmore resort. It had been listed for $2,375,000.
LUXURY CONDO SALES FOR OCTOBER
There were two sales in October.
The first was in the Scottsdale Waterfront Residences. It was a two bedroom, two and one-half bathroom unit with 2,265 square feet. It had been listed for $1,195,000 and sold for $1,100,000.
The second sale was in Phoenix’s Esplanade Place. This two bedroom, three bathroom unit with 2,978 square feet had been listed for $1,300,000 and sold for $1,240,000.
Overall, it was a good sales month for the luxury condo market in Scottsdale and Phoenix. Two sales went through and there is healthy inventory in the pipeline.
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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 11/1/2014 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
