Luxury Condo Sales in Scottsdale and Phoenix – January 2023
January was a quieter month in terms of sales volume. However, this is something we see seasonally as buyers tend to put off shopping for homes during the holiday season.
In this report, we look at luxury condos in Scottsdale and Phoenix. All of these homes were on the market for one million dollars or more.
| Luxury Condo Market - January 2023 | |||
| Phoenix and Scottsdale AZ | |||
| All Luxury Condos | Scottsdale Luxury Condos | Phoenix Luxury Condos | |
| Units on the Market | |||
| - Number of Units for Sale | 49 | 45 | 4 |
| - Average Asking Price | $2,163,603 | $2,160,923 | $2,193,750 |
| - Average Asking Price Per Sq. Ft. | $886.37 | $904.43 | $705.70 |
| - Average Days on Market*- Active | 156 | 165 | 64 |
| UCB Sales (Under Contract - Accepting Backup Offers) | |||
| - Number of Units UCB | 3 | 3 | 0 |
| - Average UCB Price | $1,872,333 | $1,872,333 | N/A |
| - Average UCB Price Per Sq. Ft. | $791.80 | $791.80 | N/A |
| Pending Sales | |||
| - Number of Units Pending | 54 | 50 | 4 |
| - Average Pending Price | $2,752,798 | $2,801,450 | $1,189,000 |
| - Average Pending Price Per Sq. Ft. | $817.62 | $829.19 | $672.98 |
| Luxury Condo Sales | |||
| - Number of Units Sold | 5 | 4 | 1 |
| - Average Sales Price | $1,529,798 | $1,460,625 | $1,189,000 |
| - Sales Price to List Price | 92.0% | 91.3% | 95.1% |
| - Average Sold Sq. Feet | 2,249 | 2,062 | 3,000 |
| - Average Sales Price per Sq. Ft. | $648.45 | $711.48 | $396.33 |
| - Average Days on Market* - Sold | 77 | 66 | 121 |
| - Highest Sale Price | $1,925,000 | $1925,000 | $1,189,000 |
| - Lowest Sale Price | $980,000 | $98,000 | $1,189,000 |
| - Percentage of Total Sales | 100% | 80% | 20% |
ACTIVE LISTINGS AT THE END OF JANUARY
The number of luxury condos for sale increased by three between the end of December and the end of January when there were forty-nine units for sale.
The priciest luxury condo for sale is new to the market. Located in the Scottsdale Waterfront community, this home has three bedrooms, three and one-half bathrooms and 3,940 square feet. It was listed for $5,900,000.
The least expensive condo for sale was in the Optima Camelview community. It has two bedrooms and bathrooms and 1,346 square feet. It was listed for $1,030,000.
UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were three homes in UCB status at the end of the month and they were all located in Scottsdale.
UCB Condos in Scottsdale
- Portico Condominiums– This is a new development in North Scottsdale.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,637,100.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,679,900.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,954 square feet. Asking price was $2,300,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
The number of pendings fell for the first time in many many months. We closed out January with fifty-four pending sales. Of those, fifty of them were located in Scottsdale. Almost all of them are located in communities currently under development.
Scottsdale Pending Luxury Condos
- Optima Camelview
- Three bedrooms, two bathrooms, 2,272 square feet. Asking price was $1,689,000.
- Two bedrooms and bathrooms, 1,448 square feet. Asking price was $1,549,000.
- Scottsdale Waterfront – Two bedrooms, two and one-half bathrooms, 2,117 square feet. Asking price was $1,695,000.
- Optima Kierland – Two bedrooms, two and one-half bathrooms, 1,846 square feet. Asking price was 1,800,000.
- Portico Scottsdale Condominiums – This is a new development in North Scottsdale.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,425,600.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,582,200.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,669,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,695,600.
- 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 $1,814,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,890,000.
- 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 $1,026,500.
- 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.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,447,500.
- Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,532,900.
- 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.
- Two bedrooms, two and one-half bathrooms, 3,363 square feet. Asking price was $3,250,000
- 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.
- 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 $2,750,000.
- 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 Condos
- One Lexington – Two bedrooms, two and one-half bathrooms, 2,288 square feet. Asking price was $1,295,000.
- Two Biltmore – Four bedrooms, five bathrooms and 4,817 square feet. Asking price was $4,295,000.
- Fairway Lodge – Three bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,499,000.
- Portland on the Park – Three bedrooms and bathrooms, 2,486 square feet. Asking price was $1,500,000.
LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There was a total of five luxury condo sales in January.
Scottsdale Luxury Condo Sales
- Optima Kierland
- Two bedrooms, two and one-half bathrooms, 1,846 square feet. Asking price was $1,600,000 and it closed for $1,400,000.
- Optima Camelview
- Three bedrooms and bathrooms, 2,918 square feet. Asking price was $1,999,990 and it sold for $1,925,000.
- Two bedrooms, two and one-half bathrooms, 1,955 square feet. Asking price was $1,750,000 and it closed for $1,537,500.
- Two bedrooms and bathrooms, 1,528 square feet. Asking price was $1,049,000 and it sold for $980,000.
Phoenix Luxury Condo Sale
- The Residences at 2211 Camelback – Two bedrooms, three bathrooms, 3,000 square feet. Asking price was $1,250,000 and it sold for $1,189,000.
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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 2/1/2023 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 ©2023 Heather Tawes Nelson | Joyce Tawes
