– Luxury Condo Sales in Scottsdale and Phoenix – February 2018 –
This report will cover the luxury condo market in Scottsdale and Phoenix during the month of February 2018. I am including any condos listed for $1 million or more as part of the luxury market.
ACTIVE LISTINGS AT THE END OF FEBRUARY
At the end of February, there were fifty-three luxury condos for sale. Thirty-three of the units were located in Scottsdale and the remaining twenty were in Phoenix.
The highest priced condo is a carryover of a few months. This 4,059 square foot penthouse with three bedrooms and three and one-half bathrooms at the Plaza Lofts at Kierland was listed for $3,195,000.
The lowest priced condo was listed for $1,049,000 and was located in the Optima Camelview community. It had three bedrooms, two bathrooms and 2,200 square feet.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
February finished the month with three units in UCB status. All three were located in Scottsdale and two of them are carryovers from 2017.
- The first was in Main Street Place, a new community in Old Town. It had two bedrooms, two and one-half bathrooms and 2,345 square feet. It had been on the market for $1,265,000.
- The second was in a community we do not see a lot in this report, Safari Drive. This contemporary 2,417 square foot penthouse has two bedrooms and two and one-half bathrooms. It was listed for $1,399,999.
- The final UCB was a unit in the Plaza Lofts at Kierland. Listed for $1,850,000, this condo had two bedrooms, two and one-half bathrooms and 2,162 square feet.
*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
At the end of February, there were six pending sales of luxury condos. All of them were located in Scottsdale, except for one.
Pending Condos in Scottsdale
- This Main Street Place condo has been pending for months as the community was being built. It was on the market for $1,975,000 and 3,563 square feet, three bedrooms and three and one-half bathrooms.
- There was a single pending sale at the Enclave at the Borgata. This unit had three bedrooms, three and one-half bathrooms and 3,016 square feet. Its list price was $1,450,000.
- Scottsdale Waterfront Residences also had a pending sale. This condo had 1,780 square feet, two bedrooms and two bathrooms. It was for sale for $1,100,000
- The final two pending sales were in the Optima Kierland, a new community. The first was a three bed and bath home with 1,706 square feet. It was listed for $1,075,000. The second was a two bedroom, two and one-half bath unit with 2,283 square feet. It was listed got $1,653,000.
Pending Condo in Phoenix
- This pending is a carryover from January. It is a condo at Portland on the Park and had two bedrooms, three bathrooms and 2,105 square feet. It was listed for $1,250,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were five luxury condo sales in February, and all of them were in Scottsdale.
Scottsdale Luxury Condo Sales
- Two of the five sales were in Optima Camelview. The first unit had three bedrooms, three and one-half bathrooms and 2,299 square feet. It had been on the market for $1,549,000 and sold for $1,500,000. The second sale was for a three bedroom, two bathroom, 2,258 square foot unit. It had been listed for $1,290,000 and sold for $1,125,000.
- Two more of February’s sales were in the Main Street Place community. The first sale was a two bedroom, two and one-half bathroom, 2,345 square foot unit. The list price was $1,165,000 and it sold for that amount. The other sale was also a two bedroom, two and one-half bathroom unit, but this one had 2,520 square feet. It was listed at and sold for $1,300,000.
- The final sale in February tool place in the Envy Residences. On the market for $1,425,000, this condo had two bedrooms, two and one-half bathrooms and 2,449 square feet. It sold for $1,380,000.
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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 3/1/2018 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 © 2018 Heather Tawes Nelson | Joyce Tawes
