– Phoenix and Scottsdale Luxury Condo Market Through Q3 2014 –
We are now through the first three quarters of 2014, so I wanted to take a look back and see how the market for luxury condos in Scottsdale and Phoenix was performing.
For the purposes of this report, I am classifying condos with asking prices above $1 million as luxury condos.
SCOTTSDALE & PHOENIX CONDO SALES
There were twenty-one sales through Q3 of 2014. More than half of them took place in the second quarter, which is similar to what we saw in the single family home market as well.
Average sales prices have been increasing over the course of the year, but the average price per square foot has been bouncing around a bit. (You will see this kind of volatility when there are lower numbers of sales to ‘even’ things out.)
SCOTTSDALE CONDO SALES
Scottsdale luxury condo sales accounted for two thirds of 2014 sales. And although the average sales price was less than what we saw in Phoenix, the average price per square foot was over $100 greater in Scottsdale.
Most of the condo sales took place at Scottsdale Waterfront, The Landmark, The Mark Condos and Optima Camelview.
PHOENIX CONDO SALES
There have been seven sales to-date in Phoenix. These sales took place at Esplanade Place, Two Biltmore Estates and Fairway Lodge at the Biltmore.
For more information about the luxury condo communities in Scottsdale and Phoenix, click here.
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Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/23/2014 and can change at any time. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This blog represents the opinion of the author. No warranties implied or expressed. Copyright © 2014 Heather Tawes Nelson | Joyce Tawes
