– Luxury Condo Sales in Scottsdale and Phoenix – October 2020 –
The activity level of the Scottsdale and Phoenix luxury condo market forged head at a fast pace in October. Typically, this is a slower time of year for this market.
In this report, we look at luxury condo sales in Scottsdale and Phoenix. All of these homes had list prices of over $1 million.
| Luxury Condo Market - October 2020 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 64 | 42 | 22 |
| - Average Asking Price | $1,590,159 | $1,536,064 | $1,693,432 |
| - Average Asking Price Per Sq. Ft. | $608.42 | $657.53 | $514.66 |
| - Average Days on Market*- Active | 174 | 191 | 143 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 6 | 4 | 2 |
| - Average UCB Price | $1,522,610 | $1,526,415 | $1,515,000 |
| - Average UCB Price Per Sq. Ft. | $629.41 | $671.88 | $544.47 |
| Pending Sales | |||
| - Number of Units Pending | 8 | 8 | 0 |
| - Average Pending Price | $1,537,375 | $1,537,375 | N/A |
| - Average Pending Price Per Sq. Ft. | $702.13 | $702.13 | N/A |
| Luxury Condo Sales | |||
| - Number of Units Sold | 7 | 5 | 2 |
| - Average Sales Price | $1,901,000 | $1,676,000 | $2,463,500 |
| - Sales Price to List Price | 94.9% | 94.4% | 95.7% |
| - Average Sold Sq. Feet | 3,314 | 2,359 | 5,702 |
| - Average Sales Price per Sq. Ft. | $633.95 | $712.26 | $438.18 |
| - Average Days on Market* - Sold | 117 | 152 | 27 |
| - Highest Sale Price | $2,627,000 | $2,185,000 | $2,627,000 |
| - Lowest Sale Price | $1,235,000 | $1,235,000 | $2,300,000 |
| - Percentage of Total Sales | 100% | 71% | 29% |
ACTIVE LISTINGS AT THE END OF OCTOBER
Inventory was up by five units at the end of October and all of the new inventory came from Scottsdale.
- The most expensive condo for sale has carried over from the past several months. It is located in the Two Biltmore Estates community and was priced at $3,300,000. It has 4,817 square feet.
- The least expensive luxury condo for sale was on the market for $1,005,000. This Optima Kierland home has two bedrooms and baths and 1,366 square feet.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were six condos in UCB status at the end of October. Four were in Scottsdale and two were in Phoenix.
UCB Homes in Scottsdale
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,754 square feet. Asking price was $1,125,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,265 square feet. Asking price was $1,390,000.
- Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,491,659.
- Safari Drive – Three bedrooms, three and one-half bathrooms, 2,328 square feet. Asking price was $1,799,000
UCB Homes in Phoenix
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 2,450 square feet. Asking price was $1,055,000.
- Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,000 square feet. Asking price was $1,975,000.
*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 eight pending sales at the end of October and all of them were in Scottsdale. Six of the eight in Optima Kierland!
Scottsdale Pending Luxury Condos
- Optima Kierland –
- Three bedrooms, two bathrooms, 1,758 square feet. Asking price was $1,025,000.
- Three bedrooms, two bathrooms, 1,758 square feet. Asking price was $1,059,000.
- Two bedrooms, two and one-half bathrooms, 1,956 square feet. Asking price was $1,750,000.
- Three bedrooms, three bathrooms, 2,704 square feet. Asking price was $1,816,000.
- Three bedrooms, three bathrooms, 2,018 square feet. Asking price was $1,939,000.
- Three bedrooms, three bathrooms, 2,704 square feet. Asking price was $2,080,000.
- Optima Camelview had a single pending sale. It was for a two bedroom, two bathroom home with 1,944 square feet. It was priced at $1,195,000.
- ICON at Silverleaf – One unit at Icon was pending at the end of the month. It had two bedrooms, two and one-half bathrooms and 2,757 square feet. It was listed for $1,435,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Seven luxury condos sold in October, which is high for this time of year.
Scottsdale Luxury Condo Sales
- Optima Camelview – Two bedrooms, two bathrooms and 1,930 square feet. It was priced at $1,265,000 and sold for $1,235,000.
- Optima Kierland -Two bedrooms, three bathrooms, 2,395 square feet. It had been listed for $2,200,000 and it sold for $2,185,000.
- ICON at Silverleaf – Two units closed in Icon in October.
- Two bedrooms, two and one-half bathrooms and 2,719 square feet. It had been listed for $1,540,000 and sold for $1,400,000.
- Two bedrooms, two and one-half bathrooms and 2,760 square feet. It had been listed for $2,269,555 and closed at $2,100,000.
- Envy – Two bedrooms, two and one-half bathrooms and 1,991 square feet. It was on the market for $1,599,000 and sold for $1,460,000.
Phoenix Luxury Condo Sales
- Two Biltmore Estates – Three bedrooms, three and one-half bathrooms and 4,817 square feet. It was listed for $2,400,000 and sold for $2,300,000.
- The Residences at 2211 Camelback – Five bedrooms and five and one-half bathrooms with 6,586 square feet. It had been on the market for $2,750,000 and sold for $2,627,000.
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 11/1/2020 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
