Luxury Condo Sales in Scottsdale and Phoenix – June 2022
We are now seeing a little bit of a cool off in the luxury condo market in Scottsdale and Phoenix. Inventory has increased (which is good news), and new contracts and pending sales were down. However, we did see a very strong month for sales as pending inventory moved into the sold category.
In this report, we look at the sales activity of condos that were on the market priced at $1 million or more.
| Luxury Condo Market - June 2022 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 58 | 52 | 6 |
| - Average Asking Price | $2,164,150 | $2,206,841 | $1,794,167 |
| - Average Asking Price Per Sq. Ft. | $894.87 | $930.53 | $585.83 |
| - Average Days on Market*- Active | 65 | 69 | 32 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 4 | 2 | 2 |
| - Average UCB Price | $1,675,000 | $1,987,500 | $1,362,500 |
| - Average UCB Price Per Sq. Ft. | $595.89 | $638.56 | $553.22 |
| Pending Sales | |||
| - Number of Units Pending | 47 | 45 | 2 |
| - Average Pending Price | $2,701,321 | $2,755,935 | $1,472,500 |
| - Average Pending Price Per Sq. Ft. | $804.32 | $814.73 | $569.95 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 22 | 17 | 5 |
| - Average Sales Price | $1,929,610 | $1,776,554 | $2,450,000 |
| - Sales Price to List Price | 95.9% | 96.0% | 95.7% |
| - Average Sold Sq. Feet | 2,516 | 2,226 | 3,501 |
| - Average Sales Price per Sq. Ft. | $777,77 | $815.67 | $648.89 |
| - Average Days on Market* - Sold | 86 | 68 | 147 |
| - Highest Sale Price | $6,000,000 | $3,588,780 | $6,000,000 |
| - Lowest Sale Price | $1,020,000 | $1,020,000 | $1,295,000 |
| - Percentage of Total Sales | 100% | 77% | 23% |
ACTIVE LISTINGS AT THE END OF JUNE
Active inventory saw a nice boost in June. We closed out the month with fifty-eight units for sale. Of these, fifty-two were located in Scottsdale.
The most expensive condo for sale is located in the new development called Ascent at the Phoenician. It comes with three bedrooms, three and one-half bathrooms and has 3,996 square feet. It was listed for $4,750,000.
The lowest-priced luxury condo for sale was in Scottsdale’s Gateway at Main Street Plaza. This home has two bedrooms, two and one-half bathrooms and 2,393 square feet. It was listed for $1,000,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
We went from twelve UCB contracts at the end of May to just four at the end of June. They were evenly split between Scottsdale and Phoenix.
UCB Condos in Scottsdale
- Troon North Golf Villa – Three bedrooms and bathrooms, 3,017 square feet. Asking price was $1,225,000.
- ICON in Silverleaf – Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,750,000.
UCB Condos in Phoenix
- Fairway Lodge at the Biltmore
- Two bedrooms, two and one-half bathrooms, 2,616 square feet. Asking price was $1,350,000.
- Two bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,375,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pending sales saw a slight dip. June closed out with forty-seven pending sales compared to the fifty-two pending sales at the end of May. As mentioned before, the majority of these pending contracts are in communities that are currently under construction.
Forty-five of the forty-eight pendings were located in Scottsdale.
Scottsdale Pending Luxury Condos
- Optima Kierland – Two bedrooms and bathrooms, 1,290 square feet. Asking price was $1,600,000.
- The Reserve – This community is under construction.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,004,500.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,011,500.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,012,450.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,016,000.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,026,500.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,063,000.
- Two bedrooms, two and one-half bathrooms, 2,020 square feet. Asking price was $1,075,000.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,159,000.
- Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,271,450.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,279,900.
- Ascent at the Phoenician – This is another fantastic development underway.
- One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,475,000.
- Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,600,000.
- Two bedrooms, two and one-half bathrooms, 2,374 square feet. Asking price was $2,050,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,285,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,395,000.
- Three bedrooms, three and one-half bathrooms, 3,867 square feet. Asking price was $3,975,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,100,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,895,000.
- Three bedrooms, three and one-half bathrooms, 3,945 square feet. Asking price was $4,950,000.
- Seven at Desert Mountain – This community is also under construction.
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,505,002.
- 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.
- 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.
- ICON at Silverleaf – Currently under construction.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $1,995,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,150,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,900,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,500,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,625,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,700,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,800,000.
- Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,900,000.
- Three bedrooms, four bathrooms, 3,1557 square feet. Asking price was $2,900,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,175,000.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,200,000.
- Three bedrooms, four bathrooms 3,157 square feet. Asking price was $3,350,000.
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $6,900,000.
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $7,700,000.
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $7,718,000.
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $8,350,000.
Phoenix Pending Luxury Condos
- One Lexington – Two bedrooms, two and one-half bathrooms, 2,288 square feet. Asking price was $1,295,000.
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 2,875 square feet. Asking price was $1,650,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Sales almost doubled between May and June. May ended with thirteen sales and June turned in twenty-two sales.
Scottsdale Luxury Condo Sales
- Optima Camelview
- Two bedrooms and bathrooms, 1,275 square feet. Asking price was $1,088,800 and it sold for $1,020,000.
- Two bedrooms and bathrooms, 1,773 square feet. Asking price was $1,130,000 and it sold for $1,100,000.
- Three bedrooms, two and one-half bathrooms, 3,354 square feet. Asking price was $3,795,000 and it sold for $3,588,780.
- Two bedrooms, two and one-half bathrooms, 1,911 square feet. Asking price was $1,299,000 and it sold for $1,155,000.
- Three bedrooms, two bathrooms, 2,465 square feet. Asking price was $1,750,000 and it sold for $1,650,000.
- Three bedrooms, two bathrooms, 1,710 square feet. Asking price was $1,375,000 and it sold for $1,300,000.
- Landmark Condominiums
- Three bedrooms and bathrooms, 3,045 square feet. Asking price was $1,600,000 and it sold for list price.
- Two bedrooms, three bathrooms, 2,690 square feet. Asking price was $1,699,000 and it sold for $1,600,000.
- Four bedrooms, three bathrooms, 3,946 square feet. Asking price was
$2,575,000 and it sold for $2,437,500.
- Optima Kierland
- Two bedrooms, two and one-half bathrooms, 1,754 square feet. Asking price was $1,695,000 and it sold for $1,595,000.
- Two bedrooms and bathrooms, 1,686 square feet. Asking price was $1,750,000 and it sold for list price.
- Two bedrooms and bathrooms, 1,366 square feet. Asking price was $1,797,000 and it sold for list price.
- Two bedrooms, two and one-half bathrooms, 1,980 square feet. Asking price was $2,250,000 and it sold for $2,200,000.
- Three bedrooms and bathrooms, 1,686 square feet. Asking price was $1,250,000 and it sold for $1,330,000.
- Seven at Desert Mountain – Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,705,300 and it sold for $1,805,132.
- Tower Residences at Hotel Valley Ho – Two bedrooms and bathrooms, 1,363 square feet. Asking price was $1,200,000 and it sold for list price.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 3,139 square feet. Asking price was $3,495,000 and it sold for $3,300,000.
Phoenix Luxury Condo Sales
- Esplanade Place – Three bedrooms and bathrooms, 3,334 square feet. Asking price was $2,175,000 and it sold for $2,010,000.
- The Residences at 2211 Camelback – Four bedrooms, four and one-half bathrooms, 6,875 square feet. Asking price was $6,200,000 and it sold for $6,000,000.
- Bridgewood – Two bedrooms and bathrooms, 1,968 square feet. Asking price was $1,295,000 and it sold for list price.
- Fairway Lodge at the Biltmore – Three bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,425,000 and it sold for $1,345,000.
- Esplanade Place – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,698,500 and it sold for $1,600,000.
Learn More About Phoenix and Scottsdale Luxury Condos
Search Phoenix and Scottsdale Luxury Condos for Sale
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 7/1/2022 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 ©2022 Heather Tawes Nelson | Joyce Tawes
