Luxury Condo Sales in Scottsdale and Phoenix – September 2022
Sales of luxury condos in Scottsdale and Phoenix were more tempered in September, but we still have very strong pending activity due to several communities that are under development.
This analysis covers the luxury condo market in Scottsdale and Phoenix. The units in this report were all priced at $1 million or more.
| Luxury Condo Market - September 2022 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 53 | 46 | 7 |
| - Average Asking Price | $2,085,363 | $2,096,396 | $2,012,857 |
| - Average Asking Price Per Sq. Ft. | $904.32 | $949.93 | $604.61 |
| - Average Days on Market*- Active | 113 | 121 | 63 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 5 | 4 | 1 |
| - Average UCB Price | $1,600,320 | $1,706,650 | $1,175,000 |
| - Average UCB Price Per Sq. Ft. | $654.75 | $696.90 | $486.14 |
| Pending Sales | |||
| - Number of Units Pending | 46 | 45 | 1 |
| - Average Pending Price | $2,841,985 | $2,876,362 | $1,295,000 |
| - Average Pending Price Per Sq. Ft. | $822.04 | $827.73 | $566.00 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 5 | 4 | 1 |
| - Average Sales Price | $1,726,138 | $1,828,922 | $1,315,000 |
| - Sales Price to List Price | 94.2% | 93.9% | 95.6% |
| - Average Sold Sq. Feet | 2,660 | 2,742 | 2,329 |
| - Average Sales Price per Sq. Ft. | $536.86 | $653.68 | $564.62 |
| - Average Days on Market* - Sold | 19 | 7 | 69 |
| - Highest Sale Price | $2,775,000 | $2,775,000 | $1,315,000 |
| - Lowest Sale Price | $1,100,000 | $1,100,000 | $1,315,000 |
| - Percentage of Total Sales | 100% | 80% | 20% |
ACTIVE LISTINGS AT THE END OF SEPTEMBER
Inventory remained pretty much level in September. At the end of the month, there were 53 luxury condos on the market. Of these, 46 of them were in Scottsdale and the remaining 7 were in Phoenix.
The priciest condo on the market has held this spot for a few months. This unit, found in Ascent at the Phoenician, was listed for $4,450,000. It has three bedrooms, three and one-half bathrooms and 3,985 square feet.
The least expensive condo also remains the same as last month. It is located in Optima Camelview and has two bedrooms, two bathrooms and 1,424 square feet. The listing price was $1,025,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
September ended with five condos in UCB status. Four of these units were located in Scottsdale.
UCB Condos in Scottsdale
- Portico Condominiums – This is a new development in North Scottsdale.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,056,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,695,600.
- ICON in Silverleaf – Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $2,750,000.
- Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 1,659 square feet. Asking price was $1,695,600.
UCB Condos in Phoenix
- Esplanade Place – Two bedrooms and bathrooms, 2,417 square feet. Asking price was $1,175,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pending sales were back up at the end of September, closing out at forty-six. This increase was mostly fueled by new contracts in the Portico Scottsdale community.
The number of pendings is so high because all of the communities listed below are currently under development.
Scottsdale Pending Luxury Condos
- Portico Scottsdale Condominiums – This is a new development in North Scottsdale.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,188,000.
- Three bedrooms, two and one-half bathrooms, 2,090 square feet. Asking price was $1,188,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,458,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,652,400.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,728,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,738,800.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,814,400.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,814,400.
- 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 $1,026,500.
- 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 $4,750,000.
- 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.
- 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 $2,500,000.
- Three bedrooms, three and one-half bathrooms, 3,170 square feet. Askign 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, 3,157 square feet. Asking price was $2,900,000.
- Three bedrooms and bathrooms, 3,157 square feet. Asking price was $2,995,000.
- 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, 5,534 square feet. Asking price was $8,000,000
- Four bedrooms, four and one-half bathrooms, 6,288 square feet. Asking price was $8,350,000.
Phoenix Pending Luxury Condo
- One Lexington – Two bedrooms, two and one-half bathrooms, 2,288 square feet. Asking price was $1,295,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Sales fell from eleven in August to five in September.
Scottsdale Luxury Condo Sales
- Optima Camelview – Two bedrooms and bathrooms, 1,955 square feet. Asking price was $1,150,000 and it sold for $1,100,000.
- Seven at Desert Mountain
- Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,536,004 and it closed at list price.
- Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,809,900 and it sold for $1,904,685.
- Scottsdale Waterfront Residences – Three bedrooms, three and one-half bathrooms, 3,884 square feet. Asking price was $3,295,000 and it sold for $2,775,000.
Phoenix Luxury Condo Sale
- Fairway Lodge at the Biltmore – Two bedrooms, two and one-half bathrooms, 2,329 square feet. Asking price was $1,375,000 and it sold for $1,315,000.
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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 10/1/2022 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
