– Luxury Condo Sales in Scottsdale and Phoenix – January 2015 –
January tends to be a slow month due to people coming off of the holidays. However, for the Scottsdale and Phoenix luxury condo market, there was quite a bit of activity.
I define the luxury market as those condos for sale with list prices in excess of $1 million.
ACTIVE LISTINGS AT THE END OF JANUARY
Inventory once again was up, this time to forty units on the market by the time January wrapped. Nineteen of these condos were located in Scottsdale and the remaining twenty-one were in Phoenix.
A spacious penthouse in The Landmark remained the most expensive unit on the market. It was listed for $2,860,000 and had three bedrooms, three bathrooms and 4,480 square feet.
The least expensive luxury condo for sale at the end of January was another unit at The Landmark. Coming in with a list price of $1,000,000, this unit had three bedrooms, two and three-quarters bathrooms and 2,548 square feet.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pending sales at the end of January were quite impressive. There were seven pending sales on the books when the month completed. Five were in Scottsdale and the other two were in Phoenix.
Scottsdale Pending Luxury Condo Sales
- Three of the pending sales were located in the Scottsdale Waterfront Residences, an elegant and popular choice among buyers. Prices at the time of contract ranged from $1,095,000 for a two bedroom, two and one-half bathroom unit with 1,659 square feet to $1,749,000 for a three bedroom, three and one-half bathroom unit with 2,503 square feet.
- The visually striking Optima Camelview Village also had a pending sale. It was a three bedroom, three bathroom, 3,005 square foot condo that had been on the market for $1,250,000.
- The most expensive pending sale was at The Landmark. The asking price was $2,225,000 and it came with three bedrooms, two and one-half bathrooms and 3,842 square feet.
Phoenix Pending Luxury Condo Sales
- The first pending sale was at the Fairway Lodge community located at 8 Biltmore. This condo had two bedrooms, two and one-half bathrooms and 2,376 square feet. It was listed for $1,100,000.
- The other pending was next door at Two Biltmore Estates. On the market for $1,878,000, this unit had 3,580 square feet, four bedrooms and four and one-half bathrooms.
LUXURY CONDO SALES FOR JANUARY 2015
There was a single sale in January and it took place in Phoenix at the The Residences at 2211 Camelback. It was a 3,904 square foot unit with three bedrooms and three and one-half bathrooms. It had been listed for $1,874,000 and sold for $1,600,000.
January was a positive month for the luxury condo market in Scottsdale and Phoenix. Although there was only a single sale, the backlog of seven pending sales is a positive sign for February’s numbers.
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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 2/1/2015 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 © 2015 Heather Tawes Nelson | Joyce Tawes
