– Luxury Condo Sales in Scottsdale and Phoenix – August 2015 –
August was a quiet month for the Phoenix and Scottsdale luxury condo market. There was only a single sale over the month.
For the purposes of this report, we are evaluating the sales activity of condos in Scottsdale and Phoenix with asking prices in excess of $1 million.
ACTIVE LISTINGS AT THE END OF AUGUST
Inventory was up by one at the end of August to thirty-five. Twenty-one of these units were located in Scottsdale and the remaining fifteen were in Phoenix.
The most expensive condo for sale is a carryover from the last several months. Is it s gutted 8,500 square foot space that makes up the entire top floor of a commercial building in downtown Scottsdale. The asking price for this is $2,950,000.
The least expensive luxury condo on the market was in Optima Camelview in Scottsdale. This unit has three bedrooms, two bathrooms and 2,163 square feet. The asking price was $1,050,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of August, there were five pending luxury condo sales and all of them were located in Phoenix. I anticipate we will be seeing these units on this report for a while as they are all for units that are under construction.
- Four of the pending sales were located in the Two Biltmore Estates community. They are all three bedrooms with three and one-half or four and one-half bathrooms. Asking prices on these units range from $1,838,000 for 3,330 square feet to $2,588,000 for 4,877 square feet.
- Another carryover due to construction is located in the Portland on the Park community. It was listed for $1,031,500 and has two bedrooms, three bathrooms and 1,646 square feet.
LUXURY CONDO SALES FOR AUGUST 2015
There was a single condo sale in August and it was located in the Esplanade Place community. It came with 3,542 square feet, three bedrooms and three bathrooms. Listed for $1,435,000, it sold for $1,350,000.
The Scottsdale and Phoenix luxury condo market had a quiet August. Although there is ample pending inventory, these are new builds and are not anticipated to hit the market for several more months.
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Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 9/1/2015 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 August 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 © 2015 Heather Tawes Nelson | Joyce Tawes
