Phoenix and Scottsdale AZ Luxury Condo Sales – March 2021

– Luxury Condo Sales in Scottsdale and Phoenix – March 2021 –

While we are seeing a crazy busy market for single-family homes in Scottsdale and Phoenix, the luxury condo market, which is usually more subdued, has decided to join the party. We have seen several months of strong sales, but in March, we saw the highest number of luxury condo sales in a single month.

This report examines luxury condo sales in Scottsdale and Phoenix. All of these condos had been listed for $1 million or more.

ACTIVE LISTINGS AT THE END OF MARCH

March closed out with forty-seven active luxury listings. In comparison, December had sixty-six condos for sale at the end of the month. The bulk of condos on the market (35 or 47) were in Scottsdale.

The most expensive condo on the market is a carryover from previous months. It is in Two Biltmore Estates in Phoenix and had two bedrooms, three bathrooms and 4,817 square feet. The asking price was $3,300,000.

The least expensive condo on the market is also a carryover. It is in the Optima Kierland community. It had three bedrooms and bathrooms and 1,718 square feet. It was listed for $1,000,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Twelve luxury condos were in UCB status at the end of March. This is up quite a bit from February’s seven UCBs.

UCB Condos in Scottsdale

• Optima Kierland – Two bedrooms, two bathrooms and 1,366 square feet. It was listed for $1,005,000.
• Landmark Condominiums – Three bedrooms and bathrooms, 2,548 square feet. Asking price was $1,087,777.
• Tower Residences at Hotel Valley Ho – Two bedrooms, three bathrooms, 1,733 square feet. Asking price was $1,225,000.
• Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,469 square feet. Asking price of $2,395,000.
• Seven at Desert Mountain – Seven had three units in UCB status at the end of March.
  • Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,750,300.
  • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,809,900.
  • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,971,743.

UCB Condos in Phoenix

• Fairway Lodge (8 Biltmore) – Three bedrooms, two and one-half bathrooms, 2,748 square feet. Asking price was $1,049,000.
• Portland on the Park – Penthouse with three bedrooms and bathrooms, 1,941 square feet. Asking price was $1,229,000.
• Esplanade Place – Three bedrooms and bathrooms, 3,334 square feet. Asking price was $1,815,000.
• Esplanade Place – Three bedrooms and bathrooms, 3,350 square feet. Asking price was $1,995,000.
• Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,931 square feet. Asking price was $2,567,500.

*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

At the end of March, eight luxury condos were in pending status.

Scottsdale Pending Luxury Condos

• Scottsdale Waterfront Residences – The most expensive condo at $5 million, the highest we have seen locally, went into pending status. It is a penthouse with over 4,400 square feet, a wraparound deck and a separate one bedroom guest suite.
• Tower Residences at Hotel Valley Ho – Two bedrooms, three bathrooms, 1,733 square feet. Asking price was $1,150,000.
• Optima Camelview – Three bedrooms, two bathrooms, 2,498 square feet. Asking price was $1,195,000.
• Seven at Desert Mountain – Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,705,300.
• Plaza Lofts at Kierland – Three bedrooms and bathrooms, 2,284 square feet. Asking price was $2,150,000.
• Optima Kierland – Three bedrooms, three and one-half bathrooms, 2,451 square feet. Asking price was $2,975,000.

Phoenix Pending Luxury Condo

• Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,150,000.
• Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,345,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

An unprecedented eighteen luxury condos sold in March. Thirteen of the sales were in Scottsdale and the remaining five were in Phoenix. And with the strong UCB and pending activity we have seen, April may also be a strong month.

Scottsdale Luxury Condo Sales

• The Mark – Three bedrooms and bathrooms, 2,2898 square feet. Asking price was $1,150,000 and it sold for $1,100,000.
• Plaza Lofts at Kierland – Three bedrooms, two bathrooms, 1,7588 square feet. Asking price was $1,195,000 and it sold for asking price.
• Scottsdale Waterfront Residences – Three bedrooms, three and one-half bathrooms, 2,503 square feet. Asking price was $1,450,000 and it sold for $1,300,000.
• Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,717,719 and it sold for list price.
• ICON at Silverleaf – Three bedrooms, three and one-half bathrooms, 3,170 square feet. Asking price was $2,199,777 and it sold for $2,100,000.
• Scottsdale Waterfront Residences – Two bedrooms, three bathrooms, 2,041 square feet. Asking price was $1,650,000 and it sold for $1,625,000.
• Optima Camelview – Three bedrooms, two and one-half bathrooms, 3,380 square feet. Asking price was $2,299,000 and it sold for over asking at $2,300,000.
• Third Avenue Lofts – Two bedrooms, two and one-half bathrooms, 2,340 square feet. Asking price was $1,079,000 and it sold for list price.
• Safari Drive – Three bedrooms, three and one-half bathrooms, 2,328 square feet. Asking price was $1,799,000 and it sold for $1,685,000.
• Seven at Desert Mountain – Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,872,698 and it sold for $1,815,000.
• Plaza Lofts at Kierland – Three bedrooms and bathrooms, 1,712 square feet. Asking price was $1,550,000 and it sold for $1,480,000.
• Plaza Lofts at Kierland – Three bedrooms and bathrooms, 2,704 square feet. Asking price was $2,080,000 and it sold for over asking at $2,170,500.
• Landmark Condominiums – Three bedrooms, three and one-half bathrooms, 3,547 square feet. Asking price was $1,795,000 and it sold for over asking at $1,797,000.

Phoenix Luxury Condo Sales

• Two Biltmore Estates – Three bedrooms, four bathrooms, 4,817 square feet. Asking price was $2,890,000 and it sold for $2,795,000.
• Fourplex in 85003 zip code – Four one bedroom units. Asking price was $1,289,000 and it sold for $1,200,000.
• Optima Biltmore– Penthouse with two bedrooms, three bathrooms, 2,456 square feet. Asking price was $1,200,000 and it sold for $1,140,000.
• Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,356 square feet. Asking price was $2,200,000 and it sold for $2,000,000.
• Fairway Lodge (8 Biltmore) – Three bedrooms, two and one-half bathrooms, 2,992 square feet. Asking price was $1,350,000 and it sold for $1,300,000.

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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 4/1/2021 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.
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