– Phoenix and Scottsdale AZ Luxury Condo Sales – May 2013 –
After an amazing April, May was a little quieter for the Phoenix and Scottsdale luxury condo market. At the end of the month, there was a single sale, but there were still four luxury condos in pending status.
Here is an overview of the luxury condo market’s performance in May. For the purposes of this overview, luxury condos are those units with list prices of $1 million and over.
ACTIVE LISTINGS & PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Inventory has been stable in the high 20’s for most of the year. Asking prices range from $1,050,000 for a unit in The Landmark to $3,695,000 for a penthouse at the Scottsdale Waterfront Residences.
At the end of May, there were four pending condo sales, equally split between Scottsdale and Phoenix.
The two pending sales in Phoenix were at Two Biltmore Estates and they ranged from a three bedroom, four bath unit for $1,798,000 to a four bedroom, four and one-half bathroom unit for $1,878,000.
Of the two pending sales in Scottsdale, one was at the Kierland Plaza Lofts. This two bedroom, two and one-half bathroom with 2,047 square feet was listed for $1,245,000. The other is the top floor of the Camelback Tower commercial building. It has been pending for many months and was listed for $2,499,000.
MAY 2013 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Sales activity in May was a little slower than April. There was a single sale in Scottsdale and it was at the Scottsdale Waterfront Residences. The north-facing condo had three bedrooms, three and one-half bathrooms and 2,503 square feet. It had been listed for $1,100,000 and it sold for $975,000 after 46 days on the market.
May was a quieter month for the Phoenix and Scottsdale luxury condo market, but there is still very strong pending inventory. If a few of these close in June, we should see another good month.
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Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2013 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 home 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 © 2013 Heather Tawes Nelson
