– Luxury Condo Sales in Scottsdale and Phoenix – September 2020 –
The luxury condo market is still performing, even as we move into what is traditionally a slower time of year.
This report covers the luxury condo market in Scottsdale and Phoenix. All of these condos were on the market at $1 million or more.
| Luxury Condo Market -September 2020 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 59 | 37 | 22 |
| - Average Asking Price | $1,620,400 | $1,565,612 | $1,712,545 |
| - Average Asking Price Per Sq. Ft. | $601.38 | $646.97 | $524.70 |
| - Average Days on Market*- Active | 205 | 203 | 208 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 1 | 0 | 1 |
| - Average UCB Price | $2,750,000 | N/A | $2,750,000 |
| - Average UCB Price Per Sq. Ft. | $417.55 | N/A | $417.55 |
| Pending Sales | |||
| - Number of Units Pending | 13 | 12 | 1 |
| - Average Pending Price | $1,721,420 | $1,664,871 | $2,400,000 |
| - Average Pending Price Per Sq. Ft. | $712.83 | $730.71 | $498.24 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 4 | 4 | 0 |
| - Average Sales Price | $1,706,250 | $1,706,250 | N/A |
| - Sales Price to List Price | 94.7% | 94.7% | N/A |
| - Average Sold Sq. Feet | 2,307 | 2,307 | N/A |
| - Average Sales Price per Sq. Ft. | $739.88 | $739.88 | N/A |
| - Average Days on Market* - Sold | 199 | 199 | N/A |
| - Highest Sale Price | $2,300,000 | $2,300,000 | N/A |
| - Lowest Sale Price | $1,150,000 | $1,150,000 | N/A |
| - Percentage of Total Sales | 100% | 100% | 0% |
ACTIVE LISTINGS AT THE END OF SEPTEMBER
Inventory fell by eight units between the end of August and September. About 62% of the luxury condos for sale were located in Scottsdale and the balance were in Phoenix.
- The highest-priced luxury condo for sale has held this spot for a couple of months. Priced at $3,300,000, this home is located in Two Biltmore Estates. It has 4,817 square feet.
- The lowest-priced luxury condo for sale was listed for $1,049,000. This Portland Place three bedroom, two and one-half bathroom unit has 2,755 square feet.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Only one luxury condo was in UCB status at the end of September.
The UCB unit was a five bedroom, five and one-half bathroom home in The Residences at 2211 Camelback. It had 6,586 square feet and was listed for $2,750,000.
*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
September closed out with a mindblowing thirteen pending sales! And twelve of those were located in Scotsdale.
Scottsdale Pending Luxury Condos
- Optima Camelview had a single pending sale. It was for a two bedroom, two bathroom home with 1,930 square feet. It was priced at $1,265,000.
- Optima Kierland is under development. Many of these condos have been in pending status for a while and several more were added in September.
- Two units with the same floorplan went under contract. They had three bedrooms, two bathrooms and 1,758 saure feet. The unit on the 6th floor was priced at $1,025,000 and the unit on the 7th floor was priced at $1,059,000.
- 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 – Three units went pending in September.
- All three units had two bedrooms and two and one-half bathrooms. The 2,757 square foot unit was priced at $1,435,000. The 2,719 square foot unit was priced at $1,540,000. And finally, the 2,760 square foot unit was priced at $2,269,555.
- The final pending sale was in Envy. It had two bedrooms, two and one-half bathrooms and 1,991 square feet. It was on the market for $1,599,000
Phoenix Pending Luxury Condos
- Two Biltmore Estates also had a single pending sale. This is the same unit as last month. It was a three bedroom, three and one-half bathroom home with 4,817 square feet. It had been listed for $2,400,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were a total of four luxury condo sales in September and they were all in Scottsdale.
Scottsdale Luxury Condo Sales
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms with 2,117 square feet. It had been listed for $2,195,000 and sold for $2,150,000.
- Tower Residences at Hotel Valley Ho – Two bedrooms, three bathrooms and 1,733 square feet. It had been on the market for $1,150,000 and sold for list price.
- Envy – Two bedrooms, two and one-half bathrooms with 2,208 square feet. It had been listed for $1,350,000 and sold for $1,225,000.
- ICON at Silverleaf – Three bedrooms, three and one-half bathrooms and 3,170 square feet. It had been listed for $2,511,145 and sold for $2,300,000.
Learn More About Phoenix and Scottsdale Luxury Condos
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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 10/1/2020 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
