– Luxury Condo Sales in Scottsdale and Phoenix – November 2020 –
The sales activity for the Scottsdale and Phoenix luxury condo market was on pace for this time of year, but pending and UCB sales were much higher than we would expect.
This report covers the luxury condo market in Scottsdale and Phoenix. All of these homes were on the market for $1 million or more.
| Luxury Condo Market - November 2020 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 66 | 46 | 20 |
| - Average Asking Price | $1,587,037 | $1,519,977 | $1,741,274 |
| - Average Asking Price Per Sq. Ft. | $611.96 | $649.48 | $525.67 |
| - Average Days on Market*- Active | 187 | 198 | 162 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 8 | 6 | 2 |
| - Average UCB Price | $1,522,570 | $1,492,593 | $1,612,500 |
| - Average UCB Price Per Sq. Ft. | $590.13 | $607.67 | $537.50 |
| Pending Sales | |||
| - Number of Units Pending | 11 | 10 | 1 |
| - Average Pending Price | $1,550,882 | $1,563,470 | $1,425,000 |
| - Average Pending Price Per Sq. Ft. | $702.66 | $725.43 | $475.00 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 3 | 2 | 1 |
| - Average Sales Price | $1,235,000 | $1,362,500 | $980,000 |
| - Sales Price to List Price | 95.5% | 96.5% | 92.9% |
| - Average Sold Sq. Feet | 2,265 | 2,511 | 2,450 |
| - Average Sales Price per Sq. Ft. | $497.73 | $546.59 | $400.00 |
| - Average Days on Market* - Sold | 363 | 95 | 899 |
| - Highest Sale Price | $1,395,000 | $1,395,000 | $980,000 |
| - Lowest Sale Price | $980,000 | $1,330,000 | $980,000 |
| - Percentage of Total Sales | 100% | 67% | 33% |
ACTIVE LISTINGS AT THE END OF NOVEMBER
Inventory was at sixty-six at the end of the month. Scottsdale had forty-six of the listings and Phoenix had the remaining twenty.
- As we have reported for several months, the most expensive condo for sale is located in the Two Biltmore Estates community and was priced at $3,300,000. It has 4,817 square feet.
- And we had a carryover for the least expensive luxury condo for sale as well. Listed 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 eight condos in UCB status at the end of November, up two from October. Six were located in Scottsdale and two were in Phoenix.
UCB Homes in Scottsdale
- Optima Camelview – Three bedrooms, two and one-half bathrooms, 1,758 square feet. Asking price was $1,025,000.
- Optima Kierland – Three bedrooms, three bathrooms, 1,686 square feet. Asking price was $1,299,000.
- Safari Drive – Three bedrooms, three bathrooms, 2,732 square feet. Asking price was $1,375,000
- Scottsdale Waterfront Residences – Three bedrooms, two and one-half bathrooms, 2,265 square feet. Asking price of $1,395,000.
- Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,791,659.
- Optima Camelview – Three bedrooms, three and one-half bathrooms, 3,223 square feet. Asking price was $1,799,000.
UCB Homes in Phoenix
- The Residences at 2211 Camelback – Three bedrooms and bathrooms, 3,000 square feet. Asking price was $1,250,000,
- 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 eleven pending sales at the end of November. This pending activity is unusual at this time of year.
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, 1,754 square feet. Asking price was $1,125,000.
- 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.
- Three bedrooms, three bathrooms, 2,232 square feet. Asking price was $2,195,000.
- 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 2,722 square feet. It was listed for $1,750,000.
Phoenix Pending Luxury Condo
The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,425,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Three luxury condos sold in November, which is more or less on par for this time of year.
Scottsdale Luxury Condo Sales
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,265 square feet. Asking price was $1,390,000 and it sold for $1,330,000.
- ICON at Silverleaf – Two bedrooms, two and one-half bathrooms and 2,265 square feet. It was listed for $1,435,000 and sold for $1,395,000.
Phoenix Luxury Condo Sales
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 2,450 square feet. Asking price was $1,055,000 and the condo sold for $980,000.
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 12/1/2020 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
