Phoenix and Scottsdale AZ Luxury Condo Sales – October 2017

– Luxury Condo Sales in Scottsdale and Phoenix – October 2017 –

Scottsdale and Phoenix’s luxury condo markets had another decent month in terms of sales and pending sales activity.

This report looks at sales and sales activity of condominiums listed for $1 million or more.

ACTIVE LISTINGS AT THE END OF OCTOBER

October ended with 53 condos for sale between the two cities. This is up from 48 units for sale at the end of September.

The most expensive unit for sale was located at the Scottsdale Waterfront Residences. This penthouse with almost 4,000 square feet had three bedrooms and three and one-half bathrooms. It had been on the market for a while and the list price was $3,595,000.

And, the same two units from last month were the least expensive luxury units for sale. The asking price for each of them was $1,049,000. The first unit was located in Phoenix’s Fairway Lodge. It had two bedrooms, two and one-half bathrooms and 2,704 square feet. The other condo was located in Scottsdale’s Optima Camelview. This home had three bedrooms, two bathrooms and 2,200 square feet.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

October ended with three UCB listings, up one from the end of September. Two were in Scottsdale and the remaining one was in Phoenix.

• Main Street Place is currently under construction, so this one has been in this status for a while. Listed for $1,975,000, this condo had 3,563 square feet, three bedrooms and three and one-half bathrooms.
• The second UCB unit was located in the Scottsdale Waterfront Residences. This third-floor unit had two bedrooms, two and one-half bathrooms and 2,092 square feet. It was on the market for $1,350,000.
• The final UCB was in the Two Biltmore Estates community. It was a three bedroom, three and one-half bathroom, 3,950 square foot unit that was listed for $2,638,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

October concluded with ten pending sales of luxury condos.  Nine of them were in Scottsdale and most of them are units in communities that are still being built, so they will stay in this status for a while.

 

Pending Condos in Scottsdale

• Four of the ten pending sales were located in Main Street Place, which is under construction. Square footage for these units came in between 2,161 and 2,520. Prices ranged from $1,150,000 (4th floor), to $1,165,000 (3rd floor), to $1,300,000 (2nd floor) and to $1,975,000 (4th floor).
• Optima Kierland, a new luxury development, ended the month with two carryover pendings. One had two bedrooms, two and one-half bathrooms and 2,283 square feet. It was listed for $1,653,000. The other was a three bedroom, three bathroom,  1,706 square foot home. It was on the market for $1,075,000.
• Optima Camelview had a pending sale listed for $1,247,000. This condo had three bedrooms and two bathrooms.
• Plaza Lofts at Kierland Commons also had a pending sale. It was being sold for $1,200,000 and had two bedrooms, two bathrooms and 1,593 square feet.
• The final pending is a carryover at the Enclave at Borgata. Still being built, this condo had three bedrooms, three and one-half bathrooms and 2,765 square feet. It was on the market for $1,820,572.

Pending Condo in Phoenix

• The lone pending in Phoenix was located in The Residences at 2211 Camelback. This two bedroom, two and one-half bathroom unit had 3,017 square feet and was on the market for $1,450,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Three luxury condos sold during the month of October. Two were in Scottsdale and the other was in Phoenix.

• Both of Scottsdale’s sales were in the Plaza Lofts at Kierland Commons. One was a two bedroom, two bathroom unit with 1,663 square feet. It was on the market for $1,100,000 and sold at list price. The other was a three bedroom three bathroom unit with 2,802 square feet. It had been listed for $2,300,000 and it also sold for list price.
• Phoenix’s sale was in Two Biltmore Estates. This condo had three bedrooms, three and one-half bathrooms and 3,960 square feet. The asking price had been $2,195,000 and it sold for $2,000,000.

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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 11/1/2017 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 © 2017 Heather Tawes Nelson | Joyce Tawes