– Luxury Condo Sales in Scottsdale and Phoenix – July 2019 –
We saw the impact of the seasonal slowdown in July. Luxury condo sales activity in Scottsdale and Phoenix was down and many homes were taken off of the market for the slow season.
In this report, we are looking at luxury condos for sale in Scottsdale and Phoenix. All of these condos had asking prices in excess of $1 million.
ACTIVE LISTINGS AT THE END OF JULY
The inventory of luxury condo listings dropped from 56 at the end of June to 44 at the end of July. Scottsdale went from forty-two luxury condos on the market to thirty-one. Phoenix dropped by one and closed out the month with thirteen luxury condos on the market.
- The most expensive listing came onto the market at the end of the month. It was a four bedroom, four bathroom, 5,042 square foot home in Optima Kierland. It is due for completion next year and is listed at $3,675,000.
- The lowest-priced luxury condo for sale was the same as last month and it is also located in the Optima Kierland community. On the market for $1,35,000, this unit has 1,956 square feet, three bedrooms and three bathrooms. Its completion date is also next year.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were two homes in UCB status at the end of July.
- In Scottsdale, a unit at ICON Silverleaf went under contract. It has two bedrooms, two and one-half bathrooms and 2,721 square feet. It was listed for $1,950,000.
- The other UCB was in Phoenix. This penthouse with fantastic views at Portland on the Park has three bedrooms and bathrooms and 1,940 square feet. It was on the market for $1,139,000.
*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
There were two pending sales at the end of the month and both were located in Scottsdale.
- The first pending was located in the Optima Camelview community. It had two bedrooms and two and one-half bathrooms and 2,114 square feet. It was listed for $1,149,000.
- The second pending was in ICON Silverleaf. This two bedroom, two and one-half bathroom home with 2,746 square feet was listed for $1,499,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There was a single luxury condo sale in July. The sale was in the Scottsdale Waterfront Residences community. The home had two bedrooms, two and one-half bathrooms and 2,092 square feet. It was listed for $1,499,000 and sold for $1,375,000 in under a month.
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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 7/1/2019 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 © 2019 Heather Tawes Nelson | Joyce Tawes
