– Luxury Condo Sales in Scottsdale and Phoenix – January 2021 –
Sales activity was very healthy for luxury condos in Scottsdale and Phoenix in January. We saw double-digit pending sales and closed sales were strong..
This report takes a look at the luxury condo market in Scottsdale and Phoenix. These homes all had list prices of $1 million or more.
| Luxury Condo Market - January 2021 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 60 | 44 | 16 |
| - Average Asking Price | $1,670,919 | $1,626,244 | $1,793,775 |
| - Average Asking Price Per Sq. Ft. | $629.40 | $669.45 | $519.27 |
| - Average Days on Market*- Active | 176 | 164 | 208 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 4 | 3 | 1 |
| - Average UCB Price | $1,597,604 | $1,680,139 | $1,350,000 |
| - Average UCB Price Per Sq. Ft. | $589.83 | $636.03 | $451.20 |
| Pending Sales | |||
| - Number of Units Pending | 10 | 9 | 1 |
| - Average Pending Price | $1,533,200 | $1,572,444 | $1,180,000 |
| - Average Pending Price Per Sq. Ft. | $694.50 | $716.49 | $496.63 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 9 | 8 | 1 |
| - Average Sales Price | $1,685,360 | $1,721,030 | $1,400,000 |
| - Sales Price to List Price | 97.4% | 97.3% | 98.2% |
| - Average Sold Sq. Feet | 2,617 | 2,569 | 3,000 |
| - Average Sales Price per Sq. Ft. | $657.48 | $681.33 | $466.67 |
| - Average Days on Market* - Sold | 119 | 132 | 12 |
| - Highest Sale Price | $2,900,000 | $2,900,000 | $1,400,000 |
| - Lowest Sale Price | $1,299,000 | $1,299,000 | $1,400,000 |
| - Percentage of Total Sales | 100% | 89% | 11% |
ACTIVE LISTINGS AT THE END OF JANUARY
January closed out with sixty condos on the market. This was down from the sixty-six that were for sale at the end of December. Forty-four of the sixty condos were located in Scottsdale.
The most expensive unit for sale came onto the market during January and it is the highest-price we have seen for a condo in Scottsdale. Listed for $5 million, this penthouse at the Scottsdale Waterfront Residences community has over 4,400 square feet, a wraparound deck and comes with a separate one bedroom guest suite.
The least expensive luxury condo was located in Optima Kierland. This home had two bedrooms, two bathrooms and 1,366 square feet. It was on the market for $1,005,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
January closed out with four condos in UCB status.
UCB Condos in Scottsdale
- Scottsdale Waterfront Residences – Three bedrooms, three and one-half bathrooms, 2,503 square feet. Asking price of $1,450,000.
- Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,717,719.
- Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,872,698.
UCB Condo in Phoenix
- Fairway Lodge (8 Biltmore) – Three bedrooms, two and one-half bathrooms, 2,992 square feet. Asking price was $1,350,000.
*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
Nine condos were in pending status at the end of January and all but one of them were in Scottsdale.
Scottsdale Pending Luxury Condos
- Sage Condominiums – Two bedrooms, two and one-half bathrooms, 2,752 square feet. Asking price was $1,000,000.
- Tower Residences at Hotel Valley Ho – Two bedrooms, three bathrooms, 1,733 square feet. Asking price was $1,150,000.
- Optima Camelview – Two bedrooms, two and one-half bathrooms, 1,955 square feet. Asking price was $1,168,000.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,846 square feet. Asking price was $1,525,000.
- Scottsdale Waterfront Residences – Two bedrooms, three bathrooms, 2,041 square feet. Asking price of $1,650,000.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,956 square feet. Asking price was $1,750,000.
- Optima Camelview – Three bedrooms, two and one-half bathrooms, 3,347 square feet. Asking price was $1,890,000.
- Optima Kierland – Three bedrooms, three bathrooms, 2,018 square feet. Asking price was $1,939,000.
- Optima Kierland – Three bedrooms, three bathrooms, 2,704 square feet. Asking price was $2,080,000.
Phoenix Pending Luxury Condo
- Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,180,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were eleven luxury condo sales in Scottsdale and Phoenix in January, which is a very strong number and came from the high UCB and pending inventory we had in November.
Scottsdale Luxury Condo Sales
- Plaza Lofts at Kierland Commons – Two bedrooms and bathrooms, 1,6642 square feet. It had been on the market for $1,495,000 and sold for $1,439,000.
- Seven at Desert Mountain -Three bedrooms, three and one-half bathrooms, 2,716 square feet. It was listed for $1,791,659 and sold for $1,770,000.
- Seven at Desert Mountain -Three bedrooms, three and one-half bathrooms, 2,716 square feet. It was listed for $1,981,537 and sold for $1,910,237
- Optima Kierland – Three bedrooms, three bathrooms, 1,686 square feet. It was on the market for $1,299,000 and sold for list price.
- Optima Kierland – Four bedrooms, three and one-half bathrooms, 4,116 square feet. It was listed for $2,995,000 and sold for list price.
- Plaza Lofts at Kierland Commons – Two bedrooms, two and one-half bathrooms, 2,162 square feet. It was on the market for $1,395,000 and sold for $1,325,000.
- Scottsdale Waterfront Residences – Three bedrooms, two and one-half bathrooms, 2,265 square feet. It was listed for $1,325,000.
- Optima Camelview – Three bedrooms, three and one-half bathrooms, 3,223 square feet. It was listed for $1,799,000 and sold for list price.
Phoenix Luxury Condo Sales
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. It was listed for $1,425,000 and sold for $1,400,000.
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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 2/1/2021 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 ©2021 Heather Tawes Nelson | Joyce Tawes
