Here are the results for luxury condo sales in Scottsdale and Phoenix for May 2010. For the purposes of this analysis, I am defining the luxury condo market as condos on the market with asking prices in excess of $1 million.
Luxury condo sales in Scottsdale and Phoenix have been doing well so far in 2010, with about 2 units per month selling. At the end of May 2010, there were four pending sales of these condos. All four of the pending sales were located in Scottsdale and were spread over three communities – Optima Camelview, Scottsdale Waterfront Residences (two pending sales) and Kierland Plaza lofts. The lowest priced pending unit is a 2 bedroom, 2.5 bathroom, 2,114 square foot unit at Optima Camelview that is listed for $1,107,000. The highest priced pending condo is at Kierland Plaza. It is a 3 bedroom, 2.5 bathroom, 3,567 square foot unit that is listed for $2,225,000.
There were two luxury condo sales in Scottsdalein May 2010. The first was in Optima Camelview Village and it was a brand new penthouse unit with Camelback Mountain views, 3 bedrooms, 2.5 bathrooms and 2,037 square feet. It sold at over $705 per square foot at $1,437,454. The other sale was at The Landmark. This unit was also a penthouse and has 4 bedrooms, 3.5 bathrooms and 3,533 square feet. It sold at over $594 per square foot at $2,100,000.
Overall, the Phoenix and Scottsdale luxury condo market had another solid month. It is encouraging to see units in the $2 million and up range sell or go into pending sale status since many of the luxury condo sale prices in the last little bit have been closer to the $1 million mark. With four pending sales at the end of May, June should be another good month.
Search Scottsdale and Phoenix Luxury Condos for Sale
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2010 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2010 Heather Tawes Nelson
