Phoenix and Scottsdale AZ Luxury Condo Sales – January 2020

– Luxury Condo Sales in Scottsdale and Phoenix – January 2020 –

January was another busy month for the luxury condo market in Scottsdale and Phoenix. The number of luxury condos that were under contract at the end of the month was impressive.

We are defining the luxury condo market as those condos that are on the market for $1 million or more.

 

ACTIVE LISTINGS AT THE END OF JANUARY

There were sixty-three condos for sale at the end of January, up from sixty. Forty-seven of them had a Scottsdale address and the remainder, sixteen were in Phoenix.

• The highest-priced luxury condo on the market was a carryover from last month. Located in the Scottsdale Waterfront Residences, this penthouse has four bedrooms, four and one-half bathrooms and a 640 square foot guest suite located on the ground floor. It was on the market for $5 million.
• The lowest-priced luxury condo on the market was located in Optima Camelview. It has two bedrooms and bathrooms and comes in at 1,930 square feet. It was listed for $1,025,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

January ended with four homes in UCB status, three of which were in Scottsdale.

• Optima Kierland – Two bedrooms and bathrooms, 1,665 square feet. Listed for $1,000,000.
• Plaza Lofts at Kierland – Two bedrooms and bathrooms, 1,664 square feet. Listed for $1,395,000.
• Seven at Desert Mountain – Three bedrooms and three and one-half bathrooms and 2,716 square feet. Listed for $1,749,900.
• Phoenix’s UCB was in the One Lexington high-rise in downtown Phoenix. It is a two-story glass penthouse with two bedrooms, two and one-half bathrooms and 2,288 square feet. It was on the market for $1,200,000.

*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 an impressive eleven pending sales in the luxury condo market.

Scottsdale Pending Luxury Condos

Many of these condos were carryovers from the end of November. Both Optima Kierland and ICON are under development, so sometimes it takes a bit for these units to close.

• Four of the eight pending sales were located in the new Optima Kierland community.
  • Two bedrooms and two and one-half bathrooms with 1,956 square feet. It was listed for $1,750,000.
  • Three bedrooms and bathrooms with 2,704 square feet. It was on the market for $1,816,000.
  • Three bedrooms and bathrooms with 2,018 square feet. It was on the market for $1,939,000.
  • Three bedrooms and bathrooms with 2,704 square feet. It was listed for $2,080,000.
• ICON at Silverleaf had a single pending sale. It had three bedrooms, three and one-half bathrooms and 3,173 square feet. Its asking price was $2,072,100.
• Optima Camelview had two pending sales.
  • Three bedrooms, two and one-half bathrooms and 2,400 square feet. It was listed for $1,000,000.
  • Three bedrooms, two and one-half bathrooms and 2,615 square feet. It was listed for $1,450,000.
• Plaza Lofts at Kierland – Two bedrooms, two and one-half bathrooms and 2,046 square feet. It was listed for $1,595,000.

Phoenix Pending Luxury Condos

• Esplanade Place had a new pending sale. This condo had three bedrooms and bathrooms, 3,334 square feet and was listed for $1,144,000.
• Two Biltmore Estates closed the month with a pending sale. This unit had three bedrooms, two and one-half bathrooms and 2,329 square feet. It was listed for $1,199,000. (Carryover from last month.)
• Fairway Lodge at The Biltmore also had a pending sale. It had three bedrooms, three and one-half bathrooms and 4,877 square feet. Listed for $2,399,000. (Carryover from last month.)

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were three sales in January, coming off of the holidays. All of them were located in Scottsdale.

• Optima Camelview – Three bedroom, four and one-half bathroom unit with 2,400 square feet. It had been listed for $1,249,900 and sold for $1,200,000.
• Optima Camelview – Two bedroom, two and one-half bathroom unit with 3,197 square feet. It had been listed for $1,495,000 and sold for $1,410,500.
• SOHO Scottsdale – Penthouse with three bedrooms, three and one-half bathrooms and 3,520 square feet. It was listed for $1,425,000 and sold for $1,275,000.

 

 

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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 2/1/2020 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 © 2020 Heather Tawes Nelson | Joyce Tawes