– Luxury Condo Sales in Scottsdale and Phoenix – September 2021 –
September’s performance was pretty on par with August’s in terms of sales activity. We did see a nice bump in inventory for the Phoenix luxury condo market.
This report covers luxury condo sales in Scottsdale and Phoenix. To be considered for this report, all of these units had list prices of $1 million or more.
| Luxury Condo Market - September 2021 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 39 | 25 | 14 |
| - Average Asking Price | $1,663,344 | $1,533,896 | $1,894,500 |
| - Average Asking Price Per Sq. Ft. | $733.97 | $805.22 | $606.75 |
| - Average Days on Market*- Active | 89 | 65 | 132 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 8 | 8 | 0 |
| - Average UCB Price | $1,331,764 | $1,331,764 | N/A |
| - Average UCB Price Per Sq. Ft. | $691.23 | $691.23 | N/A |
| Pending Sales | |||
| - Number of Units Pending | 14 | 13 | 1 |
| - Average Pending Price | $1,591,949 | $1,616,329 | $1,275,000 |
| - Average Pending Price Per Sq. Ft. | $623.95 | $630.67 | $536.62 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 7 | 5 | 2 |
| - Average Sales Price | $1,632,143 | $1,635,000 | $1,625,000 |
| - Sales Price to List Price | 99.0% | 99.8% | 97.0% |
| - Average Sold Sq. Feet | 2,541 | 2,515 | 2,606 |
| - Average Sales Price per Sq. Ft. | $653.01 | $666.87 | $618.34 |
| - Average Days on Market* - Sold | 55 | 47 | 73 |
| - Highest Sale Price | $2,325,000 | $2,325,000 | $1,925,000 |
| - Lowest Sale Price | $1,275,000 | $1,275,000 | $1,325,000 |
| - Percentage of Total Sales | 100% | 71% | 29% |
ACTIVE LISTINGS AT THE END OF SEPTEMBER
We saw a much needed jump in inventory for luxury condos. We ended the month with thirty-nine condos for sale compared to August’s thirty-three. The bulk of this new inventory was in seen in Phoenix with five net adds.
The most expensive condo on the market is the same as last month. This unit is in The Residences at 2211 Camelback. It has four bedrooms and bathrooms and 5,500 square feet. It has been recently renovated and was listed for $4,295,000.
The least expensive luxury condo on the market is a new listing. It is a two bedroom, two and one-half bathroom unit in Safari Drive.
is also a new one. Located in Optima Camelview, this unit had two bedrooms and bathrooms, 1,257 square feet and was listed for $1,409,900.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
UCB contracts doubled between the end of August and September. We closed out the month with eight and all of them were located in Scottsdale.
UCB Condos in Scottsdale
- There were two units in Optima Camelview
- Two bedrooms and bathrooms, 1,257 square feet. Asking price was $1,024,900.
- Three bedrooms, two bathrooms, 1,902 square feet. Asking price was $1,295,000.
- Threre were two units in Optima Kierland
- Two bedrooms and bathrooms, 1,366 square feet. Asking price was $1,149,000.
- Two bedrooms, two and one-half bathrooms, 2,000 square feet. Asking price was $1,590,000.
- SOHO Condominiums – Three bedrooms, two and one-half bathrooms, 2,365 square feet. Asking price was $1,250,000.
- Landmark Condominiums – Three bedrooms, two and one-half bathrooms, 2,630 square feet. Asking price was $1,300,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,041 square feet. Asking price was $1,495,000.
- Seven at Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,550,215.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
The bulk of the pending listings in September were in Scottsdale. There were fourteen pendings and thirteen of them were Scottsdale. Of the thirteen, eleven of them were located within the Seven community at Desert Mountain, which is being built out.
Scottsdale Pending Luxury Condos
- The Reserve – Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,016,000. This community is under construction.
- Seven at Desert Mountain
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,495,000.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,515,800.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,530,700.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,536,004.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,612,768.
- Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,705,300.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,774,200.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,787,350.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,809,900.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,835,850.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,868,410.
- Optima Kierland – Three bedrooms, three bathrooms and 2,309 square feet. Asking price was $1,525,000.
Phoenix Pending Luxury Condo
- Fairway Lodge at 8 Biltmore – Two bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,275,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were seven sales in September, which is the same number of sales we saw in August.
Scottsdale Luxury Condo Sales
- Optima Camelview – Three bedrooms, two bathrooms and 2,614 square feet. Asking price was $1,450,000 and it sold for list price.
- Scottsdale Waterfront Residences – There were twos ales in the Scottsdale Waterfront Residences.
- Two bedrooms, two and one-half bathrooms, 1,927 square feet. Asking price was $1,395,000 and it sold for $1,275,000.
- Two bedrooms, two and one-half bathrooms, 2,041 square feet. Asking price was $1,595,000 and it sold for $1,575,000.
- Plaza Lofts at Kierland – Three bedrooms, two and one-half bathrooms, 2,046 square feet. Asking price was $1,650,000 and it sold for $1,550,000.
- SOHO Condominiums – Three bedrooms, four and one-half bathrooms, 3,949 square feet. Asking price was $2,100,000 and it sold for $2,325,000.
Phoenix Luxury Condo Sales
- One Lexington – Two bedrooms, two and one-half bathrooms, 2,835 square feet. Asking price was $2,000,000 and it sold for $1,925,000.
- Fairway Lodge at Biltmore Estates – Two bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,350,000 and it sold for $1,325,000.
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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 10/1/2021 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.
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