– Luxury Condo Sales in Scottsdale and Phoenix – February 2021 –
Once again luxury condo sales in Scottsdale and Phoenix had an incredible month. There were twenty-three homes that were under contract or sold by the end of the month.
This analysis covers the luxury condo market in Scottsdale and Phoenix. All of these units were on the market for at least $1 million.
| Luxury Condo Market - February 2021 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 49 | 36 | 13 |
| - Average Asking Price | $1,660,478 | $1,549,167 | $1,968,723 |
| - Average Asking Price Per Sq. Ft. | $652.23 | $685.80 | $559.28 |
| - Average Days on Market*- Active | 153 | 152 | 157 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 8 | 3 | 5 |
| - Average UCB Price | $1,879,625 | $2,601,333 | $1,446,600 |
| - Average UCB Price Per Sq. Ft. | $610.05 | $873.78 | $451.81 |
| Pending Sales | |||
| - Number of Units Pending | 13 | 12 | 1 |
| - Average Pending Price | $1,640,340 | $1,677,035 | $1,200,000 |
| - Average Pending Price Per Sq. Ft. | $665.62 | $680.37 | $488.60 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 11 | 8 | 3 |
| - Average Sales Price | $1,445,091 | $1,579,250 | $1,087,333 |
| - Sales Price to List Price | 97.7% | 97.8% | 97.4% |
| - Average Sold Sq. Feet | 2,384 | 2,334 | 2,516 |
| - Average Sales Price per Sq. Ft. | $631.34 | $704.78 | $435.48 |
| - Average Days on Market* - Sold | 206 | 241 | 115 |
| - Highest Sale Price | $1,939,000 | $1,939,000 | $1,150,000 |
| - Lowest Sale Price | $940,000 | $940,000 | $1,012,000 |
| - Percentage of Total Sales | 100% | 72% | 18% |
ACTIVE LISTINGS AT THE END OF FEBRUARY
February ended with only forty-nine luxury condos for sale. Compare this with December’s sixty-six listings. Thirty-six of the forty-nine units were located in Scottsdale.
The highest priced condo for sale was on the market for $3,300,000. It was located in the Two Biltmore Estates community in Phoenix and had two bedrooms, three bathrooms and 4,817 square feet.
The lowest-priced luxury condo for sale was located in Optima Kierland. This unit had three bedrooms and bathrooms and 1,718 square feet. It was on the market for $1,000,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were seven luxury condos in UCB status at the end of February.
UCB Condos in Scottsdale
- The most expensive condo Scottsdale has seen went under contract. This penthouse at the Scottsdale Waterfront Residences community was listed at $5 million. It has over 4,400 square feet, a wraparound deck and comes with a separate one bedroom guest suite.
- The least expensive luxury condo from last month also went under contract at Optima Kierland. This home had two bedrooms, two bathrooms and 1,366 square feet. It was on the market for $1,005,000.
- The third UCB in Scottsdale was at Safari Drive. This penthouse unit with striking glass walls
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.
- Fairway Lodge (8 Biltmore) – Three bedrooms, two and one-half bathrooms, 2,748 square feet. Asking price was $1,049,000.
- Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,356 square feet. Asking price was $2,200,000.
- Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,345,000.
*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
There were thirteen pending sales of condos at the end of February. The vast majority of them were located in Scottsdale.
Scottsdale Pending Luxury Condos
- Tower Residences at Hotel Valley Ho – Two bedrooms, three bathrooms, 1,733 square feet. Asking price was $1,150,000.
- Scottsdale Waterfront Residences – Two bedrooms, three bathrooms, 2,041 square feet. Asking price of $1,650,000.
- Optima Kierland – Three bedrooms, three bathrooms, 2,704 square feet. Asking price was $2,080,000.
- 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.
- Scottsdale Waterfront Residences – Three bedrooms, three and one-half bathrooms, 2,503 square feet. Asking price of $1,450,000.
- Optima Camelview – Three bedrooms, two bathrooms, 1,908 square feet. Asking price was $1,170,000.
- Optima Kierland – Three bedrooms, two bathrooms, 1,758 square feet. Asking price was $1,195,000.
- Optima Kierland – Three bedrooms, three bathrooms, 2,018 square feet. Asking price was $1,595,000.
- Landmark Condominiums – Three bedrooms, three and one-half bathrooms, 3,547 square feet. Asking price was $1,795,000.
- Plaza Lofts at Kierland – Three bedrooms, three bathrooms, 2,284 square feet. Asking price was $2,150,000.
- Optima Camelview – Three bedrooms, two and one-half bathrooms, 3380 square feet. Asking price was $2,299,000.
Phoenix Pending Luxury Condo
- Optima Biltmore– Penthouse with two bedrooms, three bathrooms, 2,456 square feet. Asking price of $1,200,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were eleven luxury condo sales in Scottsdale and Phoenix in February, which is a very strong number and came from the high UCB and pending inventory we had in November.
Scottsdale Luxury Condo Sales
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,041 square feet. Asking price was $1,649,000 and it sold for list price.
- Sage Condominiums – Two bedrooms, two and one-half bathrooms, 2,752 square feet. Asking price was $1,000,000 and it sold for $940,000.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,956 square feet. Asking price was $1,750,000 and it sold for asking price.
- Optima Kierland – Three bedrooms, three bathrooms, 2,018 square feet. Asking price was $1,939,000 and it sold for asking price.
- Optima Camelview – Two bedrooms, two and one-half bathrooms, 1,955 square feet. Asking price was $1,168,000 and it sold for $1,165,000.
- Optima Camelview – Three bedrooms, two and one-half bathrooms, 3,347 square feet. Asking price was $1,890,000 and it sold for $1,800,000.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,846 square feet. Asking price was $1,525,000 and it sold for $1,506,000.
- ICON at Silverleaf – Two bedrooms, two and one-half bathrooms, 1,955 square feet. Asking price was $1,195,000 and it sold for $1,885,000.
Phoenix Luxury Condo Sales
- Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,180,000 and it sold for $1,150,000.
- Portland Place – Three bedrooms, two and one-half bathrooms, 2,755 square feet. Asking price was $1,019,000 na and it sold for $1,012,000.
- Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,180,000 and it sold for $1,150,000.
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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 3/1/2021 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
