– Luxury Condo Sales in Scottsdale and Phoenix – September 2016 –
September was another quiet month for Scottsdale and Phoenix’s luxury condo market sales activity.
This report looks at the real estate activity for luxury condos with price points at or above $1 million.
ACTIVE LISTINGS AT THE END OF SEPTEMBER
Inventory was up 5 units to 40 at the end of September. Twenty-eight of the condos were located in Scottsdale luxury communities and the rest were located in Phoenix luxury communities.
The highest priced condo for sale remains the same. It is a Scottsdale Waterfront Residences penthouse with an asking price of $4,995,000. The home has three bedrooms, three and one-half bathrooms, 4,471 square feet and incredible views of the valley.
The lowest priced luxury condo for sale was listed for $1,000,000 even. This two bedroom, two bathroom, 1,904 square foot home is located in Phoenix’s Esplanade Place community.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Eight condos were under contract and pending sale at the end of September. Seven of these have been in pending status for months as they await completion.
Scottsdale Pending Sales
- Envy Residences had two pending luxury sales The first one is a carryover and has two bedrooms, two and one-half bathrooms and 1,764 square feet. Its asking price was $1,100,000. The second unit is a new pending sale and it has 1,995 square feet, two bedrooms and 2.25 bathrooms. The price on this one was $1,075,000.
Phoenix Pending Sales
There were no changes to the pending sales in Phoenix.
- Two Biltmore Estates had four pending sales of its three and four bedroom units. The square footage for these ranged between 3,950 to 4,877 and prices ranged from $2,148,000 to $3,178,000.
- Portland on the Park also had the same two pending sales. The first was a two bedroom, three bathroom, 2,105 square foot unit priced at $1,031,500. The second was a three bedroom, three bathroom, 2,486 square foot unit priced at $1,235,500.
LUXURY CONDO SALES FOR SEPTEMBER 2016
No luxury condos sold during the month of September. While this time of year tends to be slower, we usually see at least one or two sales. Hopefully, things will improve in October.
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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 10/1/2016 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 © 2016 Heather Tawes Nelson | Joyce Tawes
