– Luxury Condo Sales in Scottsdale and Phoenix – April 2021 –
April was yet another incredibly strong sales month for luxury condos in Scottsdale and Phoenix. We saw an incredible 17 sales and pending sales were also on a fast pace. However, we did see the number of UCB contracts fall off slightly.
Here are luxury condo contracts and sales in Scottsdale and Phoenix. All of these units were on the market for $1 million or more.
| Luxury Condo Market - April 2021 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 49 | 34 | 15 |
| - Average Asking Price | $1,651,179 | $1,574,864 | $1,824,160 |
| - Average Asking Price Per Sq. Ft. | $657.88 | $708.62 | $542.88 |
| - Average Days on Market*- Active | 144 | 147 | 137 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 7 | 4 | 3 |
| - Average UCB Price | $1,338,571 | $1,261,250 | $1,441,667 |
| - Average UCB Price Per Sq. Ft. | $588.93 | $661.29 | $492.46 |
| Pending Sales | |||
| - Number of Units Pending | 10 | 9 | 1 |
| - Average Pending Price | $1,782,508 | $1,831,120 | $1,345,000 |
| - Average Pending Price Per Sq. Ft. | $624.36 | $643.92 | $448.33 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 17 | 11 | 6 |
| - Average Sales Price | $1,713,191 | $1,781,795 | $1,587,417 |
| - Sales Price to List Price | 94.4% | 93.1% | 97.1% |
| - Average Sold Sq. Feet | 2,594 | 2,401 | 2,947 |
| - Average Sales Price per Sq. Ft. | $659.49 | $731.55 | $527.39 |
| - Average Days on Market* - Sold | 130 | 115 | 158 |
| - Highest Sale Price | $4,200,000 | $4,200,000 | $2,567,500 |
| - Lowest Sale Price | $1,005,000 | $1,005,000 | $1,022,000 |
| - Percentage of Total Sales | 100% | 65% | 35% |
ACTIVE LISTINGS AT THE END OF APRIL
Inventory was up slightly at the end of the month. There were forty-nine luxury condos on the market. After months of decreasing inventory, it was nice to see a few extra units added. Scottsdale was home to most of these condos, coming in with 34 of the 49.
The most expensive condo on the market has held this spot for a few months. This two bedroom, three bathroom, 4,817 square foot home is located in the Two Biltmore Estates community in Phoenix. It had been on the market for $3,300,000, but had a price reduction to $3,150,000.
The least expensive luxury condo for sale was in Optima Camelview. It had three bedrooms, two bathrooms and 2,129 square feet and the asking price was $1,100,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
We dropped back down to seven luxury condos in UCB status at the end of April. In March, this number had jumped to twelve.
UCB Condos in Scottsdale
- Optima Camelview – Two bedrooms and bathrooms and 1,261 square feet. Asking price was $1,075,000.
- Tower Residences at Hotel Valley Ho – Two bedrooms, three bathrooms, 1,733 square feet. Asking price was $1,225,000.
- 3rd Avenue Lofts – Two bedrooms, two and one-half bathrooms, 3,893 square feet. Asking price was $1,150,000.
- Optima Kierland – Three bedrooms and bathrooms and 2,018 square feet. Asking price was $1,595,000.
UCB Condos in Phoenix
- Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,616 square feet. Asking price was $1,100,000.
- Fairway Lodge (8 Biltmore) – Three bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,300,000.
- Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,8601 square feet. Asking price was $1,925,000.
*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
At the end of April, there were ten luxury condos were in pending status.
Scottsdale Pending Luxury Condos
- Seven at Desert Mountain – Seven had four units in pending status at the end of April.
- Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,750,300.
- Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,750,300.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,515,800.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,971,743.
- Landmark Condominiums – Three bedrooms and bathrooms, 2,548 square feet. Asking price was $1,087,777.
- Optima Camelview – Three bedrooms, two bathrooms, 2,498 square feet. Asking price was $1,195,000.
- Plaza Lofts at Kierland – Three bedrooms and bathrooms, 2,284 square feet. Asking price was $2,150,000.
- Plaza Lofts at Kierland – Penthouse unit with three bedrooms and two and one-half bathrooms, 3,567 square feet. Asking price was $4,250,000.
- The Reserve – This is a new community. Three bedrooms and three bathrooms, 2,476 square feet. Asking price was $1,016,000.
Phoenix Pending Luxury Condo
- Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,345,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
We had our second highest sales month in April. There were seventeen luxury condos sold. Eleven of the sales were in Scottsdale and the remaining six were in Phoenix.
Scottsdale Luxury Condo Sales
- Scottsdale Waterfront Residences – This was the highest-priced sale of a condo in the Valley. It was a penthouse with over 4,400 square feet, a wraparound deck and a separate one bedroom guest suite. It was listed for $5 million and sold for $4,200,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,092 square feet. Asking price was $1,295,000 and it sold for $1,235,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,469 square feet. Asking price was $2,395,000 and it sold for $2,200,000.
- Optima Kierland – Two bedrooms, two bathrooms and 1,366 square feet. It was listed for $1,005,000 and sold for asking price.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,579 square feet. Asking price was $1,059,000 and it sold for asking.
- Optima Kierland – Three bedrooms, three and one-half bathrooms, 2,451 square feet. Asking price was $2,975,000 and it sold for $2,675,000.
- Tower Residences at Hotel Valley Ho – Two bedrooms, three bathroom penthouse, 1,733 square feet. Asking price was $1,150,000 and it sold for $1,125,000.
- Seven at Desert Mountain – Two bedrooms, three and one-half bathrooms, 2,718 square feet. Asking price was $1,971,743 and it sold for asking.
- Main Street Place – Three bedrooms, three bathrooms and 3,443 square feet. It was listed for $1,250,000 and sold for $1,180,000.
- Optima Camelview – Three bedrooms, two bathrooms, 2,213 square feet. Asking price was $1,549,000 and it sold fro list price.
- Landmark Condominiums – Two bedrooms, two and three-quarters bathrooms, 2,500 square feet. Asking price was $1,400,000 and it sold at list price.
Phoenix Luxury Condo Sales
- Fairway Lodge (8 Biltmore) – Three bedrooms, two and one-half bathrooms, 2,748 square feet. Asking price was $1,049,000.
- Portland on the Park – Penthouse with three bedrooms and bathrooms, 1,941 square feet. Asking price was $1,229,000.
- Fairway Lodge (8 Biltmore) – Two bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,150,000.
- Esplanade Place – Three bedrooms and bathrooms, 3,334 square feet. Asking price was $1,815,000.
- Esplanade Place – Three bedrooms and bathrooms, 3,350 square feet. Asking price was $1,995,000.
- Two Biltmore Estates – Three bedrooms, three and one-half bathrooms, 3,931 square feet. Asking price was $2,567,500.
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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 5/1/2021 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
