– Luxury Condo Sales in Scottsdale and Phoenix – July 2021 –
July’s luxury condo market for Scottsdale and Phoenix was almost identical to what we saw in June.
This report covers the sales activity of condos with list prices at or above one million dollars.
| Luxury Condo Market - July 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 | $1,581,896 | $1,623,071 | $1,636,091 |
| - Average Asking Price Per Sq. Ft. | $688.95 | $757.08 | $558.76 |
| - Average Days on Market*- Active | 104 | 135 | 139 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 4 | 2 | 2 |
| - Average UCB Price | $1,673,750 | $1,531,668 | $1,775,000 |
| - Average UCB Price Per Sq. Ft. | $688.82 | $795.56 | $582.08 |
| Pending Sales | |||
| - Number of Units Pending | 15 | 15 | 0 |
| - Average Pending Price | $1,478,034 | $1,478,034 | N/A |
| - Average Pending Price Per Sq. Ft. | $633.11 | $633.11 | N/A |
| Luxury Condo Sales | |||
| - Number of Units Sold | 13 | 11 | 2 |
| - Average Sales Price | $1,533,385 | $1,587,182 | $1,237,500 |
| - Sales Price to List Price | 96.1% | 96.1% | 96.6% |
| - Average Sold Sq. Feet | 2,579 | 2,502 | 3,004 |
| - Average Sales Price per Sq. Ft. | $628.15 | $660.35 | $451.07 |
| - Average Days on Market* - Sold | 206 | 207 | 201 |
| - Highest Sale Price | $2,750,000 | $2,750,000 | $1,250,000 |
| - Lowest Sale Price | $1,075,000 | $1,075,000 | $1,225,000 |
| - Percentage of Total Sales | 100% | 85% | 15% |
ACTIVE LISTINGS AT THE END OF JULY
Inventory did not change between June and July. It stayed the same with thirty-eight hones homes for sale.
The highest-priced condo for sale has held this spot for several months. It is 4,817 square foot unit with two bedrooms and three bathrooms in Two Biltmore Estates. It was listed for $3,150,000.
The lowest-priced luxury condo on the market also was a carryover. Located in Esplanade Place in Phoenix, it had two bedrooms and bathrooms and 2,417 square feet. It was listed for $1,025,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
The number of UCB contracts also did not change between June and July. There were four in total and they were split equally between Phoenix and Scottsdale.
UCB Condos in Scottsdale
- Optima Kierland – Three bedrooms, three bathrooms and 2,018 square feet. Asking price was $1,750,000.
- 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 – Three bedrooms and bathrooms, 2,486 square feet. Asking price was $1,350,000.
- Esplanade Place – Two bedrooms and three bathrooms, 3,542 square feet. Asking price was $2,200,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Similar to June, all of the pending sales at the end of July were located in Scottsdale. There were fifteen pending sales and nine of them were located within the Seven community at Desert Mountain, which is being built out.
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.
- 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.
- Safari Drive – Three bedrooms, three and one-half bathrooms, 2,055 square feet. Asking price $1,100,000.
- Optima Kierland
- Two bedrooms, two bathrooms, 1,698 square feet. Asking price was $1,175,000.
- Two bedrooms, two bathrooms, 1,698 square feet. Asking price was $1,235,000.
- Two bedrooms, two bathrooms, 1,461 square feet. Asking price was $1,399,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Just like in June, thirteen luxury condos sold. Eleven of them were located in Scottsdale and the remaining two were in Phoenix.
Scottsdale Luxury Condo Sales
- Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,547,934 and it sold for $1,435,000.
- Optima Camelview – There were two sales at Optima Camelview in Downtown Scottsdale.
- Three bedrooms, two bathrooms, 1,930 square feet. Asking price was $1,250,000 and it sold for $1,130,000.
- Three bedrooms, three and one-half bathrooms and 3,021 square feet. Asking price was $1,595,000 and it sold for $1,450,000.
- Optima Kierland – Optima Kierland had four sales in July.
- Two bedrooms, two and one-half bathrooms, 3,393 square feet. Asking price was $2,075,000 and it sold for $2,025,000.
- Two bedrooms, three bathrooms and 1,575 square feet. Asking price was $1,349,000 and it sold for list price.
- Two bedrooms, three bathrooms and 1,581 square feet. Asking price was $1,075,000 and it sold for list price.
- Two bedrooms and bathrooms and 1,509 square feet. Asking price was $1,445,000 and it sold for $1,400,000.
- Landmark Condominiums – Landmark had two sales in July.
- Two bedrooms, two and one-half bathrooms, 2,845 square feet. Asking price was $1,350,000 and it sold for $1,270,000.
- Four bedrooms, three and one-half bathrooms, 3,524 square feet. Asking price was $1,640,000 and it sold for $1,575,000
- Scottsdale Waterfront Residences – Three bedrooms, three and one-half bathrooms, 3,036 square feet. Asking price was $2,750,000 and it sold for list price.
- ICON at Silverleaf – Two bedrooms, two and one-half bathrooms and 2,689 square feet. Asking price was $2,100,000 and it sold for $2,000,000.
Phoenix Luxury Condo Sales
- Portland on the Park – Two bedrooms and two and one-half bathrooms, 2,105 square feet. Asking price was $1,275,000 and it closed for $1,225,000.
- Residences at 2211 Camelback – Three bedrooms, four bathrooms, 3,904 square feet. Asking price was $1,288,000 and it sold for $1,250,000.
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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 8/1/2021 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
