Phoenix and Scottsdale AZ Luxury Condo Sales – May 2018

– Luxury Condo Sales in Scottsdale and Phoenix – May 2018 –

Here are May’s numbers for the Scottsdale and Phoenix luxury condo market. Scottsdale had some strong activity and Phoenix started to pick up again.

I am defining luxury condos as those with asking prices of $1 million or above.

ACTIVE LISTINGS AT THE END OF MAY

The number of units for sale dropped from fifty-eight at the end of April to forty-nine at the end of May. Thirty were in Scottsdale and the remaining nineteen were in Phoenix.

The highest and lowest priced condos for sale were located in Scottsdale and are carryovers from last month.

The highest priced condo was listed for $3,495,000 and was located in the Scottsdale Waterfront Residences. This 3,940 square foot penthouse had three bedrooms and three and one-half bathrooms.

The lowest priced condo was listed for $1 million and was located in Optima Camelview. It was a 2,001 square foot unit with three bedrooms and two bathrooms.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

May ended with four condos in UCB status. Three of these homes were in Scottsdale and the final one was in Phoenix.

• Enclave at the Borgata (Scottsdale): Two bedrooms, two bathrooms, 2,238 square feet. Listed for $1,180,000.
• Envy Residences (Scottsdale): Two bedrooms, two and one-half bathrooms, 2,208 square feet. Listed for $1,275,000.
• Scottsdale Waterfront Residences (Scottsdale): Two bedrooms, two and one-half bathrooms, 2,117 square feet. Listed for $1,808,000.
• 2 Biltmore Estates (Phoenix): Three bedrooms, three and one-half bathrooms, 3,892 square feet. Listed for $1,969,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Eight luxury condos were in pending status at the end of May. Five were in Scottsdale and three were in Phoenix.

Pending Condos in Scottsdale

• Optima Kierland: Three bedrooms, three bathrooms, 1,709 square feet. Listed for $1,075,000.
• Main Street Place: Two bedrooms, two and one-half bathrooms, 2,419 square feet. Listed for $1,450,000.
• ICON at Silverleaf:
  • Three bedrooms, three and one-half bathrooms, 3,170 square feet. Listed for $2,174,000.
  • Three bedrooms, three bathrooms, 3,170 square feet. Listed for $2,074,000.
  • Three bedrooms, three bathrooms, 3,170 square feet. Listed for $2,074,000.

Pending Condos in Phoenix

• Portland On the Park: Three bedrooms, three bathrooms, 2,486 square feet. Listed for $1,196,500.
• Portland On the Park: Three bedrooms, three bathrooms, 2,486 square feet. Listed for $1,386,500.
• Esplanade Place: Two bedrooms, three bathrooms, 3,000 square feet. Listed for $1,324,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Seven luxury condos sold in May and all of them were located in Scottsdale.

Scottsdale Luxury Condo Sales

• Main Street Place: Three bedrooms, three and one-half bathrooms, 3,563 square feet. Listed for $1,975,000 and sold for $2,424,041. (This is new construction and owner opted for upgrades.)
• Third Avenue Lofts: One bedroom, two bathrooms, 2,495 square feet. Listed for $1,195,000 and sold for $1,060,000.
• Scottsdale Waterfront Residences: Three bedrooms, three and one-half bathrooms, 2,503 square feet. Listed for $1,599,000 and sold for $1,525,000.
• Optima Camelview: Two bedrooms, two bathrooms, 1,815 square feet. Listed for $1,050,000 and sold for $1,000,000.
• Scottsdale Waterfront Residences: Two bedrooms, two and one-half bathrooms, 2,265 square feet. Listed for $1,450,000 and sold for $1,314,000.
• Optima Kierland: Three bedrooms, three bathrooms, 2,049 square feet. Listed for $1,375,000 and sold for $1,325,000.
• SOHO Scottsdale: Penthouse with three bedrooms, three bathrooms, 3,548 square feet.  Listed for $1,363,000 and sold for $1,363,000.

Learn More About Phoenix and Scottsdale Luxury Condos

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Disclaimer:  Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2018 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 © 2018 Heather Tawes Nelson | Joyce Tawes