Luxury Condo Sales in Scottsdale and Phoenix – August 2022
Unlike what we are seeing in other types of housing, the luxury condo market continues to plug along.
In this report, we take a look at luxury condo sales in Scottsdale and Phoenix. All of these units had been on the market at $1 million or more.
| Luxury Condo Market - August 2022 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 52 | 46 | 6 |
| - Average Asking Price | $2,135,081 | $2,174,592 | $1,832,167 |
| - Average Asking Price Per Sq. Ft. | $887.66 | $934.98 | $524.85 |
| - Average Days on Market*- Active | 106 | 111 | 69 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 4 | 4 | 0 |
| - Average UCB Price | $1,685,100 | $1,685,100 | N/A |
| - Average UCB Price Per Sq. Ft. | $679.35 | $679.35 | N/A |
| Pending Sales | |||
| - Number of Units Pending | 41 | 39 | 2 |
| - Average Pending Price | $2,964,834 | $3,048,415 | $1,335,000 |
| - Average Pending Price Per Sq. Ft. | $838.81 | $852.18 | $578.19 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 11 | 8 | 3 |
| - Average Sales Price | $1,473,851 | $1,490,920 | $1,428,333 |
| - Sales Price to List Price | 98.0% | 98.3% | 97.1% |
| - Average Sold Sq. Feet | 2,325 | 2,204 | 2,648 |
| - Average Sales Price per Sq. Ft. | $653.51 | $694.82 | $543.34 |
| - Average Days on Market* - Sold | 47 | 43 | 57 |
| - Highest Sale Price | $1,955,608 | $1,995,608 | $1,525,000 |
| - Lowest Sale Price | $1,400,109 | $1,040,109 | $1,345,000 |
| - Percentage of Total Sales | 100% | 73% | 27% |
ACTIVE LISTINGS AT THE END OF AUGUST
The number of luxury condos for sale increased by one when compared to the end of July. There were 52 units for sale and of these, 46 of them were located in Scottsdale.
The most expensive condo on the market was a carry over from last month. It is located in Ascent at the Phoenician, which is a new development that is under construction. This unit was listed for $4,450,000 and has three bedrooms, three and one-half bathrooms and 3,985 square feet.
The least expensive condo for sale was at Optima Camelview. It has two bedrooms and bathrooms and 1,424 square feet. The listing price was $1,025,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were four UCB condos at the end of August, down slightly from the six UCBs at the end of July. All of these UCB contracts were located in Scottsdale.
UCB Condos in Scottsdale
- Optima Camelview – Two bedrooms and bathrooms, 1,955 square feet. Asking price was $1,150,000.
- Portico Condominiums – This is a new development in North Scottsdale.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,188,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,652,400.
- ICON in Silverleaf – Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,750,000.
UCB Condos in Phoenix
- There were no UCB contracts in Phoenix at the end of August
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pending sales fell to forty-one by the end of August. Some of this can be attributed to slower sales activity, but we are now also seeing a lot of condos that had been under construction for a while complete and close.
Scottsdale Pending Luxury Condos
- Portico Scottsdale – Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,188,000.
- The Reserve – This community is under construction.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,004,500.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,011,500.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,012,450.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,026,500.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,063,000.
- Two bedrooms, two and one-half bathrooms, 2,020 square feet. Asking price was $1,075,000.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,159,000.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,271,450.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,279,900.
- Ascent at the Phoenician – This is another fantastic development underway.
- One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,475,000.
- Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,600,000.
- Two bedrooms, two and one-half bathrooms, 2,374 square feet. Asking price was $2,050,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,285,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,395,000.
- Three bedrooms, three and one-half bathrooms, 3,867 square feet. Asking price was $3,975,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,100,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,750,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,895,000.
- Three bedrooms, three and one-half bathrooms, 3,945 square feet. Asking price was $4,950,000.
- Seven at Desert Mountain – This community is also under construction.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,536,004.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,809,900.
- ICON at Silverleaf – Currently under construction.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $1,995,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,150,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,500,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,625,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,700,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,800,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,900,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,900,000.
- Three bedrooms and bathrooms, 3,157 square feet. Asking price was $2,995,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,175,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,200,000.
- Three bedrooms, four bathrooms 3,157 square feet. Asking price was $3,350,000.
- Three bedrooms, three and one-half bathrooms, 3,945 square feet. Asking price was $4,950,000.
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $6,900,000.
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $7,700,000.
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $7,718,000.
- Four bedrooms, four and one-half bathrooms, 5,534 square feet. Asking price was $8,000,000
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $8,350,000.
Phoenix Pending Luxury Condos
- One Lexington – Two bedrooms, two and one-half bathrooms, 2,288 square feet. Asking price was $1,295,000.
- Fairway Lodge at the Biltmore – Two bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,375,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were eleven sales in August, up two from July’s nine sales. As I mentioned above, we are now seeing some of the communities that had been under construction finish up and deliver the units to the new owners.
Scottsdale Luxury Condo Sales
- Optima Camelview – Two bedrooms and bathrooms, 1,984 square feet. Asking price was $1,150,000 and it sold for $1,125,000.
- Seven at Desert Mountain
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,950,000 and it sold for $1,850,000.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,612,768 and it sold for $1,636,645.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,835,850 and it sold for $1,955,608.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,483 square feet. Asking price was $1,595,000. and it sold for $1,540,000.
- The Reserve – Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,404,109 and it sold for list price.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,041 square feet. Asking price was $1,550,000 and it sold for $1,480,000.
- Plaza Lofts at Kierland – Two bedrooms, two and one-half bathrooms, 1,942 square feet. Asking price was $1,399,000 and it sold for $1,300,000.
Phoenix Luxury Condo Sales
- Fairway Lodge at the Biltmore
- Two bedrooms, two and one-half bathrooms, 2,616 square feet. Asking price was $1,350,000.
- Three bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,415,000.
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,650,000 and it sold for $1,525,000.
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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 9/1/2022 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 ©2022 Heather Tawes Nelson | Joyce Tawes
