Luxury Condo Sales in Scottsdale and Phoenix – December 2022
We saw inventory fall off quite a bit in December. However, this is not unusual as many listings are set to expire on December 31st, plus people sometimes take their homes off of the market during the holidays. Sales and contracts were on target for this slower time of year as well.
This report covers Scottsdale and Phoenix luxury condo sales activity. All of these homes had list prices of $1 million or more.
| Luxury Condo Market - December 2022 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 46 | 40 | 6 |
| - Average Asking Price | $2,158,268 | $2,134,159 | $2,319,000 |
| - Average Asking Price Per Sq. Ft. | $868.29 | $899.18 | $662.39 |
| - Average Days on Market*- Active | 163 | 176 | 77 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 4 | 4 | 0 |
| - Average UCB Price | $1,724,000 | $1,724,000 | N/A |
| - Average UCB Price Per Sq. Ft. | $656.13 | $656.13 | N/A |
| Pending Sales | |||
| - Number of Units Pending | 58 | 56 | 2 |
| - Average Pending Price | $2,572,402 | $2,618,827 | $1,272,500 |
| - Average Pending Price Per Sq. Ft. | $788.00 | $798.60 | $491.33 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 4 | 3 | 1 |
| - Average Sales Price | $1,506,250 | $1,658,333 | $1,050,000 |
| - Sales Price to List Price | 94.5% | 95.7% | 89.4% |
| - Average Sold Sq. Feet | 2,211 | 1,948 | 3,000 |
| - Average Sales Price per Sq. Ft. | $804.83 | $956.44 | $350.00 |
| - Average Days on Market* - Sold | 97 | 85 | 133 |
| - Highest Sale Price | $1,950,000 | $1,950,000 | $1,050,000 |
| - Lowest Sale Price | $1,050,000 | $1,150,000 | $1,050,000 |
| - Percentage of Total Sales | 100% | 75% | 25% |
ACTIVE LISTINGS AT THE END OF DECEMBER
We ended November with fifty-seven luxury condos on the market. At the end of December, there were only forty-six for sale.
The most expensive condo for sale has held this spot for a while. Priced at $4,450,000, this unit is located in the Ascent at the Phoenician community. It has three bedrooms and three and one-half bathrooms and 3,985 square feet.
The least expensive condo for sale was in Pinnacle Pointe in North Scottsdale. This home has three bedrooms and bathrooms, 2,379 square feet and was priced at $1,000,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
All four of the UCB contracts at the end of December were located in Scottsdale.
UCB Condos in Scottsdale
- Portico Condominiums– This is a new development in North Scottsdale.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,637,100.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,679,900.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,890,000.
- Optima Camelview – Three bedrooms, two bathrooms, 2,272 square feet. Asking price was $1,689,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pendings were up again by the end of the month to fifty-eight. The vast majority of them were located in Scottsdale in communities currently under development.
Scottsdale Pending Luxury Condos
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,846 square feet. Asking price was 1,800,000.
- Optima Camelview
- Two bedrooms and bathrooms, 1,528 square feet. Asking price was $1,049,000.
- Two bedrooms, two and one-half bathrooms, 1,955 square feet. Asking price was $1,750,000.
- Three bedrooms and bathrooms, 2,918 square feet. Asking price was $1,999,990
- Portico Scottsdale Condominiums – This is a new development in North Scottsdale.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,056,000.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,188,000.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,188,000.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,250,600.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,425,600.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,458,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,582,200.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,652,400.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,669,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,695,600.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,728,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,738,800.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,814,400.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,814,400.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,890,000.
- 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.
- 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 $2,750,000.
- 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.
- 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.
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,250,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Four luxury condos sold in Scottsdale and Phoenix in December.
Scottsdale Luxury Condo Sales
- Optima Kierland
- Two bedrooms, two and one-half bathrooms, 1,838 square feet. Asking price was $2,100,000 and it closed for $1,950,000.
- Two bedrooms and bathrooms, 1,366 square feet. Asking price was $1,950,000 and it closed for $1,875,000
- The Reserve -Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,150,000 and it closed for list price.
Phoenix Luxury Condo Sale
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,175,000 and it sold for $1,050,000.
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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 1/1/2023 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 ©2023 Heather Tawes Nelson | Joyce Tawes
