– Luxury Condo Sales in Scottsdale and Phoenix – December 2020 –
The luxury condo market in Scottsdale and Phoenix ended the year with very strong sales activity as well as strong pending sales.
In this report, we look at the sales activity of luxury condos in Scottsdale and Phoenix. All of these condos were listed $1 million or more.
| Luxury Condo Market - December 2020 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 64 | 47 | 17 |
| - Average Asking Price | $1,574,671 | $1,514,541 | $1,740,911 |
| - Average Asking Price Per Sq. Ft. | $612.16 | $648.19 | $512.52 |
| - Average Days on Market*- Active | 176 | 173 | 185 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 4 | 4 | 0 |
| - Average UCB Price | $1,851,680 | $1,851,680 | N/A |
| - Average UCB Price Per Sq. Ft. | $694.93 | $694.93 | N/A |
| Pending Sales | |||
| - Number of Units Pending | 10 | 9 | 1 |
| - Average Pending Price | $1,718,210 | $1,750,788 | $1,425,000 |
| - Average Pending Price Per Sq. Ft. | $738.79 | $768.10 | $475.00 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 11 | 9 | 2 |
| - Average Sales Price | $1,395,949 | $1,358,938 | $1,562,500 |
| - Sales Price to List Price | 97.4% | 97.6% | 96.9% |
| - Average Sold Sq. Feet | 2,365 | 2,233 | 3,000 |
| - Average Sales Price per Sq. Ft. | $599.03 | $616.41 | $520.83 |
| - Average Days on Market* - Sold | 79 | 53 | 195 |
| - Highest Sale Price | $2,141,000 | $2,141,000 | $1,950,000 |
| - Lowest Sale Price | $1,032,500 | $1,032,500 | $1,175,000 |
| - Percentage of Total Sales | 100% | 82% | 18% |
ACTIVE LISTINGS AT THE END OF DECEMBER
There were sixty-six luxury condos for sale at the end of December. Scottsdale had the majority of the listings with forty-seven
The highest-priced condo for sale has been in this spot for many months. It is found within the Two Biltmore Estates community and has two bedrooms three bathrooms and 4,817 square feet. It was on the market for $3,300,000.
The lowest-priced luxury condo was located in the Sage Condominium community. This two bedroom, two and one-half bathroom home overlooks the canal and has mountain views. It was listed for $1,000,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
All four of the condos in UCB status at the end of December were located in Scottsdale.
UCB Homes in Scottsdale
- Optima Kierland – Three bedrooms, three bathrooms, 1,686 square feet. Asking price was $1,299,000.
- Optima Kierland – Four bedrooms, three and one-half bathrooms, 4,116 square feet. Asking price was $2,995,000.
- Plaza Lofts at Kierland Commons – Two bedrooms, two and one-half bathrooms, 2,162 square feet. Asking price was $1,395,000.
- Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,717,719.
*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 ten pending sales at the end of the month. Nine of the ten were in Scottsdale.
Scottsdale Pending Luxury Condos
- Scottsdale Waterfront Residences – Three bedrooms, two and one-half bathrooms, 2,265 square feet. Asking price of $1,395,000.
- Optima Camelview – Three bedrooms, three and one-half bathrooms, 3,223 square feet. Asking price was $1,799,000.
- Plaza Lofts at Kierland Commons – Two bedrooms and bathrooms, 1,6642 square feet. Asking price was $1,495,000.
- Seven at Desert Mountain –
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,791,659.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,981,537.
- Optima Kierland –
- Two bedrooms, two and one-half bathrooms, 1,956 square feet. Asking price was $1,750,000.
- 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.
- Two bedrooms, two and one-half bathrooms, 1,846 square feet. Asking price was $1,525,000.
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
There were eleven luxury condo sales in Scottsdale and Phoenix in December, which is a very strong number and came from the high UCB and pending inventory we had in November.
Scottsdale Luxury Condo Sales
- Optima Kierland
- Three bedrooms, two bathrooms, 1,758 square feet. Asking price was $1,025,000 and it closed for $1,032,500.
- Three bedrooms, two bathrooms, 1,758 square feet. Asking price was $1,059,000 and it closed for $1,075,000.
- Two bedrooms, two and one-half bathrooms, 1,754 square feet. Asking price was $1,125,000 and it closed at list price.
- Three bedrooms, three bathrooms, 2,704 square feet. Asking price was $1,816,000 and it closed for $1,921,939.
- Three bedrooms, three bathrooms, 2,232 square feet. Asking price was $2,195,000 and it closed for $2,141,000.
- ICON at Silverleaf – Two bedrooms, two and one-half bathrooms, 2,722 square feet. It was listed for $1,450,700 and closed at list price.
- Safari Drive – Three bedrooms, three bathrooms, 2,732 square feet. Asking price was $1,375,000 and it closed for $1,300,000.
- Optima Camelview – Three bedrooms, two and one-half bathrooms, 2,406 square feet. Asking price was $1,295,000 and it closed for $1,185,000.
- Optima Camelview – Two bedroom, two and one-half bathroom home with 1,944 square feet. It was priced at $1,195,000 and sold for $1,150,000.
Phoenix Luxury Condo Sales
- The Residences at 2211 Camelback – Three bedrooms and bathrooms, 3,000 square feet. Asking price was $1,250,000 and it sold for $1,175,000.
- Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,000 square feet. Asking price was $1,975,000 and it sold for $1,950,000.
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 1/1/2021 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 ©2021 Heather Tawes Nelson | Joyce Tawes
