Luxury Condo Sales in Scottsdale and Phoenix – May 2024
May was a solid month for Scottsdale and Phoenix’s luxury condo market. Sales activity was up and we saw some new contracts and pendings.
For this report, all of the condominiums had list prices of $1 million or more.
Luxury Condo Market - May 2024 Phoenix and Scottsdale AZ All Luxury Condos Scottsdale Luxury Condos Phoenix Luxury Condos Units on the Market - Number of Units for Sale 84 68 16 - Average Asking Price $2,298,858 $2,508,351 $1,408,511 - Average Asking Price Per Sq. Ft. $957.84 $1,042.50 $598.03 - Average Days on Market*- Active 126 133 97 UCB Sales (Under Contract - Accepting Backup Offers) - Number of Units UCB 5 0 5 - Average UCB Price $1,298,397 N/A $1,298,397 - Average UCB Price Per Sq. Ft. $690.75 N/A $690.75 Pending Sales - Number of Units Pending 123 122 1 - Average Pending Price $2,813,635 $2,828,337 $1,020,000 - Average Pending Price Per Sq. Ft. $1,007.07 $1,011.11 $514.89 Luxury Condo Sales - Number of Units Sold 14 8 6 - Average Sales Price $1,884,866 $1,874,375 $1,898,853 - Sales Price to List Price 97.5% 93.9% 102.7% - Average Sold Sq. Feet 2,254 2,139 2,407 - Average Sales Price per Sq. Ft. $816.00 $874.00 $738.66 - Average Days on Market* - Sold 69 77 59 - Highest Sale Price $4,500,000 $4,030,000 $4,500,000 - Lowest Sale Price $1,100,000 $1,100,000 $1,100,000 - Percentage of Total Sales 100% 57% 43%
ACTIVE LISTINGS AT THE END OF MAY
May closed with 84 luxury condos on the market. This down from the previous month.
A unit in ICON at Silverleaf continues to be the highest-priced unit for sale. It is the final penthouse unit and the asking price is $12,900,000. It has four bedrooms, four and one-half bathrooms and 6,288 square feet.
The lowest-priced luxury condo has held this spot for a few months now. Priced at one million, this Optima Camelview Village unit has two bedrooms and bathrooms and 1,233 square feet.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
The number of UCB contracts fell again to five at the end of May. As was the case last month, all of them were located in Phoenix.
UCB Condos in Scottsdale
- There were no UCB contracts in Scottsdale at the end of the month.
UCB Condos in Phoenix
- The Residences at 2211 Camelback – Two bedrooms and bathrooms, 2,074 square feet, Asking price was $1,100,000.
- Toscana at Desert Ridge
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,262,389.
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,280,049.
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,292,596.
- Two bedrooms, two and one-half bathrooms, 2,025 square feet. Asking price was $1,556,951.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pending inventory continues to climb. In May, it reached a new high of 123. This can be attributed to a number of projects under development.
Scottsdale Pending Luxury Condos
- The Mark Condominiums – Three bedrooms, two and one-half bathrooms, 1,811 square feet. Asking price was $1,200,000.
- Optima Camelview – Three bedrooms, three and one-half bathrooms, 3,233 square feet. Asking price was $2,795,000.
- Optima Kierland
- Two bedrooms and bathrooms, 1,387 square feet. Asking price was $1,224,999.
- Two bedrooms, two and one-half bathrooms, 1,535 square feet. Asking price was $1,445,000.
- Two bedrooms, two and one-half bathrooms, 1,754square feet. Asking price was $1,695,000.
- 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 $1,664,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,718,000.
- 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 $1,744,000.
- 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.
- Two bedrooms, two and one-half bathrooms, 2,346 square feet. Asking price was $1,950,000.
- 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.
- Two bedrooms, two and one-half bathrooms, 2,589 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, 2,244 square feet. Asking price was $2,325,000.
- 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, two and one-half bathrooms, 2,679 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, three bathrooms, 2,510 square feet. Asking price was $2,550,000.
- 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, three bathrooms, 2,318 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, 2,579 square feet. Asking price was $2,850,000.
- Two bedrooms, three bathrooms, 2,294 square feet. Asking price was $2,875,000.
- 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, 2,599 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, three bathrooms, 2,326 square feet. Asking price was $3,375,000.
- Two bedrooms and bathrooms, 2,318 square feet. Asking price was $3,385,000.
- Two bedrooms, three bathrooms, 2,510 square feet. Asking price was $3,395,000.
- Two bedrooms and bathrooms, 2,592 square feet. Asking price was $3,525,000.
- Two bedrooms, three bathrooms, 2,576 square feet. Asking price was $3,585,000.
- 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, two and one-half bathrooms, 2,750 square feet. Asking price was $2,375,000.
- 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 $2,600,000.
- 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 bedrooms, 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
- Summit at Copper Square – Three bedrooms and bathrooms, 1,981 square feet. Asking price was $1,020,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Fourteen condos sold in May. They were almost evenly split between Scottsdale and Phoenix.
Scottsdale Luxury Condo Sales
- Reserve Scottsdale – Three bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,299,500 and it sold for $1,265,000.
- Scottsdale Waterfront Residences
- Two bedrooms, two and one-half bathrooms, 1,919 square feet. Asking price was $1,550,000 and it closed for $1,525,000.
- Three bedrooms, three and one-half bathrooms, 3,898 square feet. Asking price was $4,495,000 and it sold for $4,030,000.
- Two bedrooms, two and one-half bathrooms, 2,092 square feet. Asking price was $2,295,000 and it closed for $2,150,000.
- Optima Kierland
- Two bedrooms, two and one-half bathrooms, 1,579 square feet. Asking price was $1,700,000 and it sold for $1,525,000.
- Two bedrooms and bathrooms, 1,258 square feet. Asking price was $1,140,000 and it sold for $1,100,000.
- Optima Camelview – Three bedrooms and bathrooms, 1,953 square feet. Asking price was $1,995,000 and it sold for $1,925,000.
- Oasis at Gainey Ranch – Two bedrooms and bathrooms, 1,776 square feet. Asking price was $1,495,000 and it sold for $1,475,000.
Phoenix Luxury Condo Sales
- Two Biltmore Estates – Four bedrooms, three and one-half bathrooms, 3,950 square feet. Asking price was $4,125,000 and it sold for $4,500,000.
- Toscana at Desert Ridge
- Two bedrooms, two and one-half bathrooms, 1,781 square feet. Asking price was $1,248,181 and it sold for list price.
- Two bedrooms, two and one-half bathrooms, 2,025 square feet. Asking price was $1,394,396 and it sold for $1,394,397.
- Three bedrooms, three and one-half bathrooms, 2,171 square feet. Asking price was $1,150,000 and it sold for $1,100,000.
- Fairway Lodge at the Biltmore – Three bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,625,000 and it sold for $1,600,000.
- Portland on the Park – Two bedrooms, two and one-half bathrooms, 2,185 square feet. Asking price was $1,550,000 and it sold for list price.
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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 6/1/2024 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
