– Luxury Condo Sales in Scottsdale and Phoenix – June 2021 –
Luxury condos in Scottsdale and Phoenix are still selling at a brisk pace, but we are seeing new UCB contracts fall off. A large drop in the number of units for sale in May may have played a part in this.
Here is an overview of the luxury condo market in June in Scottsdale and Phoenix. All of the condos in this report had been on the market for $1 million or more.
| Luxury Condo Market - June 2021 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 38 | 27 | 11 |
| - Average Asking Price | $1,652,353 | $1,623,071 | $1,724,227 |
| - Average Asking Price Per Sq. Ft. | $703.45 | $757.08 | $571.79 |
| - Average Days on Market*- Active | 133 | 135 | 128 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 4 | 3 | 1 |
| - Average UCB Price | $1,342,250 | $1,364,667 | $1,275,000 |
| - Average UCB Price Per Sq. Ft. | $665.16 | $684.98 | $605.70 |
| Pending Sales | |||
| - Number of Units Pending | 16 | 16 | 0 |
| - Average Pending Price | $1,614,341 | $1,614,341 | N/A |
| - Average Pending Price Per Sq. Ft. | $612.12 | $612.12 | N/A |
| Luxury Condo Sales | |||
| - Number of Units Sold | 13 | 10 | 3 |
| - Average Sales Price | $1,572,308 | $1,554,000 | $1,633,333 |
| - Sales Price to List Price | 98.1% | 99.2% | 94.8% |
| - Average Sold Sq. Feet | 2,811 | 2,736 | 3,063 |
| - Average Sales Price per Sq. Ft. | $567.06 | $582.04 | $517.15 |
| - Average Days on Market* - Sold | 129 | 121 | 155 |
| - Highest Sale Price | $2,775,000 | $2,775,000 | $2,525,000 |
| - Lowest Sale Price | $1,020,000 | $1,020,000 | $1,100,000 |
| - Percentage of Total Sales | 100% | 77% | 33% |
ACTIVE LISTINGS AT THE END OF JUNE
The number of luxury condos for sale at the end of June was up slightly to thirty-eight. This is good news for people looking to buy.
The highest-priced condo on the market has held this spot for many months now. It is a two bedroom, three bathroom, 4,817 square foot unit Two Biltmore Estates. It was listed for $3,150,000.
The lowest-priced luxury condo for sale was in Esplanade Place in Phoenix. It was a two bedroom and bathroom unit with 2,417 square feet. It was listed for $1,025,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
After having nine homes in UCB status at the end of May, there were only four at the end of June. Three of the four were located in Scottsdale.
UCB Condos in Scottsdale
- Optima Kierland – Two bedrooms, three bathrooms and 1,575 square feet. Asking price was $1,349,000.
- Landmark Condominiums – Two bedrooms, two and one-half bathrooms, 2,845 square feet. Asking price was $1,350,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 1,927 square feet. Asking price was $1,395,000.
UCB Condos in Phoenix
- Portland on the Park – Two bedrooms and two and one-half bathrooms, 2,105 square feet. Asking price was $1,275,000.
*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
All of the pending sales at the end of June were located in Scottsdale. There were sixteen in total and ten of them were located within the Seven community at Desert Mountain.
Scottsdale Pending Luxury Condos
- Seven at Desert Mountain
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,515,800.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,530,700.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,536,004.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,547,934.
- Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,705,300.
- 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 $1,774,200.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,787,350.
- 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 $1,835,850.
- The Reserve – This is a new community that had two pending sales.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,000,113.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,016,000.
- Optima Camelview – There were two pending sales at Optima Camelview in Downtown Scottsdale.
- Three bedrooms, two bathrooms, 1,930 square feet. Asking price was $1,250,000.
- Three bedrooms, three and one-half bathrooms and 3,021 square feet. Asking price was $1,595,000.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 3,393 square feet. Asking price was $2,075,000.
- ICON at Silverleaf – Two bedrooms, two and one-half bathrooms and 2,689 square feet. Asking price was $2,100,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Thirteen luxury condos sold in June. Ten of them were in Scottsdale and the remaining three were in Phoenix.
Scottsdale Luxury Condo Sales
- Optima Camelview – Five units sold in Optima Camelview in June
- Two bedrooms, two and one-half bathrooms and 1,914 square feet. Asking price was $1,150,000 and it sold for $1,100,000.
- Five bedrooms and bathrooms, 4,835 square feet. Asking price was $2,895,000 and it sold for $2,775,000.
- Three bedrooms, three and one-half bathrooms, 2,501 square feet. Asking price was $1,495,000 and it sold for list price.
- Four bedrooms, three and one-half bathrooms, 3,680 square feet. Asking price was $2,395,000 and it sold for $2,775,000 – almost 16% over asking!
- Three bedrooms, two bathrooms, 1,908 square feet. Asking price was $1,170,000 and it sold for $1,050,000.
- Optima Kierland – Two units sold in Optima Kierland in June.
- Three bedrooms and bathrooms, 2,018 square feet. Asking price was $1,469,000 and it sold for $1,395,000.
- Three bedrooms and bathrooms and 2,018 square feet. Asking price was $1,595,000 and it sold for $1,580,000.
- Landmark Condominiums – Three bedrooms and bathrooms, 2,548 square feet. Asking price was $1,048,000 and it sold for $1,020,000.
- 3rd Avenue Lofts – Two bedrooms, two and one-half bathrooms, 3,893 square feet. Asking price was $1,150,000 and it sold for $1,100,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,041 square feet. Asking price was $1,299,500 and it sold for $1,250,000.
Phoenix Luxury Condo Sales
- Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,175,000 and it sold for $1,100,000.
- Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,345,000 and it sold for $1,275,000.
- Two Biltmore Estates – Four bedrooms, four and one-half bathrooms, 3,860 square feet. Asking price was $2,650,000 and it sold for $2,525,000.
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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 7/1/2021 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
