Luxury Condo Sales in Scottsdale and Phoenix – January 2024
The luxury condo market roared back to life in January. Coming off of the holiday season, we saw lots of new listings and increased sales activity.
To be included in this report, all of the condos need to have been priced at $1 million or more.
Luxury Condo Market - January 2024 Phoenix and Scottsdale AZ All Luxury Condos Scottsdale Luxury Condos Phoenix Luxury Condos Units on the Market - Number of Units for Sale 72 55 17 - Average Asking Price $2,069,282 $2,181,440 $1,706,419 - Average Asking Price Per Sq. Ft. $882.78 $961.80 $627.13 - Average Days on Market*- Active 83 102 25 UCB Sales (Under Contract - Accepting Backup Offers) - Number of Units UCB 11 5 6 - Average UCB Price $1,796,439 $2,296,800 $1,379,471 - Average UCB Price Per Sq. Ft. $767.69 $924.13 $637.32 Pending Sales - Number of Units Pending 112 110 2 - Average Pending Price $2,858,000 $2,858,637 $2,822,988 - Average Pending Price Per Sq. Ft. $767.69 $1,008.40 $850.97 Luxury Condo Sales - Number of Units Sold 9 6 3 - Average Sales Price $1,891,182 $1,790,833 $2,091,880 - Sales Price to List Price 97.1% 96.4% 97.3% - Average Sold Sq. Feet 2,429 2,248 2,792 - Average Sales Price per Sq. Ft. $775.64 $806.02 $714.88 - Average Days on Market* - Sold 118 94 167 - Highest Sale Price $3,900,000 $2,675,000 $3,900,000 - Lowest Sale Price $1,125,000 $1,125,000 $1,150,000 - Percentage of Total Sales 100% 67% 33%
ACTIVE LISTINGS AT THE END OF JANUARY
We closed out December with 59 units for sale and ended January with 72 units for sale. Typically, we see these jumps located in Scottsdale, but this month, we saw a huge uptick in luxury condos for sale in Phoenix
Remaining in place as the highest-priced condo for sale for several months is a unit at ICON in Silverleaf. It has five bedrooms, five and one-half bathrooms and an expansive 5,534 square feet. The asking price was $6,900,000.
The lowest-priced condo for sale was located in The Reserve. It has two bedrooms, two and one-half bathrooms and 2,179 square feet. It was on the market for $1,010,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
December ended with four homes in UCB status. In contrast, January closed out with eleven homes in UCB status.
UCB Condos in Scottsdale
- Optima Camelview
- Two bedrooms and bathrooms, 1,628 square feet. Asking price was $1,050,000.
- Three bedrooms, three and one-half bathrooms, 3,223 square feet. Asking price was $3,295,000.
- Portico Condominiums – Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,664,000.
- ICON at Silverleaf – Two bedrooms, two and one-half bathrooms, 2,757 square feet. Asking price was $2,275,000.
- Optima Kierland – Three bedrooms and bathrooms, 2,232 square feet. Asking price was $3,200,000.
UCB Condos in Phoenix
- Esplanade Place – Two bedrooms and bathrooms, 2,417 square feet. Asking price was $1,189,000.
- Toscana at Desert Ridge
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,280,049.
- Three bedrooms, two and one-half bathrooms, 2,177 square feet. Asking price was $1,405,827.
- Two bedrooms, two and one-half bathrooms, 2,025 square feet. Asking price was $1,556,951.
- Fairway Lodge
- Three bedrooms, two and one-half bathrooms, 2,042 square feet. Asking price was $1,295,000.
- Three bedrooms, two and one-half bathrooms, 2,748 square feet. Asking price was $1,550,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
I was wrong in my prediction that we would be at 100 or above pending sales at the end of December. We actually ended with 96. However, at the end of January, we went way past that and ended the month with 112 pending sales.
Pendings are up to the highest level we have seen due to several new communities being built out.
Scottsdale Pending Luxury Condos
- The Reserve – Two bedrooms, two and one-half bathrooms, 2,020 square feet. Asking price was $1,129,000.
- Retreat at Seven Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,489 square feet. Asking price was $1,984,900.
- Optima Camelview
- Two bedrooms and bathrooms, 1,781 square feet. Asking price was $1,590,000.
- Three bedrooms, two and one-half bathrooms, 2,615 square feet. Asking price was $2,395,000.
- Optima Kierland
- Two bedrooms and bathrooms, 1,386 square feet. Asking price was $1,275,000.
- Two bedrooms and two and one-half bathrooms, 1,579 square feet. Asking price was $1,430,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,922 square feet. Asking price was $3,750,000.
- Portico Scottsdale Condominiums – This is a new development in North Scottsdale.
- Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,025,000.
- Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,060,000.
- Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,064,650.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,444,500.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,475,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,495,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,505,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,587,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,658,500.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,660,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,730,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,733,400.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,743,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,769,000.
- 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 $1,845,750.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,899,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,935,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $2,007,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $2,016,950.
- Ascent at the Phoenician – This is another fantastic development underway.
- One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,450,000.
- One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,475,000.
- Two bedrooms, two and one-half bathrooms, 1,789 square feet. Asking price was $1,600,000.
- Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,600,000.
- Two bedrooms, two and one-half bathrooms, 1,789 square feet. Asking price was $1,650,000.
- Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,650,000.
- One bedroom, two bathrooms, 1,519 square feet. Asking price was $1,725,000.
- One bedroom, two bathrooms, 1,519 square feet. Asking price was $1,725,000.
- Two bedrooms, two and one-half bathrooms, 2,346 square feet. Asking price was $1,875,000.
- Two bedrooms, two and one-half bathrooms, 2,547 square feet. Asking price was $1,925,000.
- One bedroom, two bathrooms, 1,896 square feet. Asking price was $1,975,000.
- Two bedrooms, two and one-half bathrooms, 2,547 square feet. Asking price was $1,995,000.
- Two bedrooms, two and one-half bathrooms, 1,767 square feet. Asking price was $2,025,000.
- Two bedrooms, two and one-half bathrooms, 2,374 square feet. Asking price was $2,050,000.
- Two bedrooms and bathrooms, 1,847 square feet. Asking price was $2,075,000.
- One bedroom, two bathrooms, 1,677 square feet. Asking price was $2,100,000.
- One bedroom, two bathrooms, 1,678 square feet. Asking price was $2,100,000.
- One bedroom, two bathrooms, 1,678 square feet. Asking price was $2,175,000.
- One bedroom, two bathrooms, 1,677 square feet. Asking price was $2,195,000.
- Two bedrooms and bathrooms, 2,157 square feet. The asking price was $2,225,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,285,000.
- Two bedrooms, three bathrooms, 2,157 square feet. Asking price was $2,350,000.
- Two bedrooms and bathrooms, 2,294 square feet. Asking price was $2,385,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,395,000.
- Two bedrooms, two and one-half bathrooms, 1,848 square feet. Asking price was $2,395,000.
- Two bedrooms, three bathrooms, 2,294 square feet. Asking price was $2,395,000.
- Two bedrooms, three bathrooms, 2,157 square feet. Asking price was $2,425,000.
- Two bedrooms and bathrooms, 2,068 square feet. Asking price was $2,485,000.
- Two bedrooms, two and one-half bathrooms, 2,160 square feet. Asking price was $2,485,000.
- Two bedrooms, two and one-half bathrooms, 1,848 square feet. Asking price was $2,625,000.
- Two bedrooms, three bathrooms, 2,593 square feet. Asking price was $2,695,000.
- Two bedrooms and bathrooms, 2,157 square feet. Asking price was $2,750,000.
- Two bedrooms, two and one-half bathrooms, 2,160 square feet. Asking price was $2,795,000.
- Two bedrooms and bathrooms, 2,318 square feet. Asking price was $2,950,000.
- Two bedrooms and bathrooms, 2,683 square feet. Asking price was $2,985,000.
- Two bedrooms. three bathrooms, 2,510 square feet. Asking price was $2,995,000.
- Two bedrooms, three bathrooms, 2,497 square feet. Asking price was $3,050,000.
- TWo bedrooms, three bathrooms, 2,592 square feet. Asking price was $3,100,000.
- Two bedrooms, three bathrooms, 2,527 square feet. Asking price was $3,275,000.
- Two bedrooms and bathrooms, 2,318 square feet. Asking price was $3,385,000.
- Two bedrooms and bathrooms, 2,592 square feet. Asking price was $3,525,000.
- Two bedrooms and bathrooms, 2,526 square feet. Asking price was $3,695,000.
- 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, four bathrooms, 3,037 square feet. Asking price was $4,150,000.
- Three bedrooms, four bathrooms, 3,200 square feet. Asking price was $4,295,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,450,000.
- Three bedrooms, three bathrooms, 3,141 square feet. Asking price was $4,475,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,500,000.
- Three bedrooms, four bathrooms, 3,166 square feet. Asking price was $4,595,000.
- Three bedrooms and bathrooms, 3,200 square feet. Asking price was $4,725,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,750,000.
- Three bedrooms, three bathrooms, 3,141 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, three and one-half bathrooms, 3,170 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 $3,195,000.
- 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, four bathrooms, 3,157 square feet. Asking price was $3,600,000.
- Three bedrooms, four bathrooms, 3,867 square feet. Asking price was $3,600,000.
- Three bedroons, four bathrooms, 3,329 square feet. Asking price was $3,900,000.
- Five bedrooms, five and one-half bathrooms, 5,534 square feet. Asking price was $5,400,000.
- Five bedrooms, five and one-half bathrooms, 5,534 square feet. Asking price was $5,985,000.
- 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
- Toscana at Desert Ridge -Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,170,977.
- Esplanade Place – Four bedrooms, three and one-half bathrooms, 4,286 square feet. Asking price was $4,475,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
We went from six sales in December to nine sales in January. I expect to see this figure increase in February due to all of the new activity.
Scottsdale Luxury Condo Sales
- Optima Kierland
- Two bedrooms, two and one-half bathrooms, 1,754 square feet. Asking price was $1,500,000 and it sold for $1,445,000.
- Two bedrooms and bathrooms, 1,258 square feet. Asking price was $1,215,000 and it sold for $1,125,000.
- ICON at Silverleaf – Three bedrooms, three and one-half bathrooms, 3,170 square feet. Asking price was $2,495,000 and it sold for $2,400,000.
- 3rd Avenue Lofts – Two bedrooms, two and one-half bathrooms, 2,340 square feet. Asking price was $1,425,000 and it sold for $1,350,000.
- Optima Camelview – Three bedrooms, two bathrooms, 2,498 square feet. Asking price was $1,750,000 and it sold for list price.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,469 square feet. Asking price was $2,695,000 and it sold for $2,675,000.
Phoenix Luxury Condo Sales
- One Lexington – Two bedrooms, two and one-half bathrooms, 1,779 square feet. Asking price was $1,275,000 and it sold for $1,150,000.
- Toscana at Desert Ridge – Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,225,641 and it sold for list price.
- Two Biltmore Estates – Four bedrooms, three and one-half bathrooms, 4,817 square feet. Asking price was $3,950,000 and it sold for $3,900,000.
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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 2/1/2024 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 ©2024 Heather Tawes Nelson | Joyce Tawes
