Here is a snapshot of the Phoenix and Scottsdale luxury condo market for October 2010. I define the luxury condo market as condominiums for sale with asking prices of $1 million or more.
The Scottsdale and Phoenix area luxury condo market had a slightly better October than September, however it is still not up to the average of slightly over two sales a month pace we saw earlier in the year.
At the end of October, there were no pending luxury condo sales in Scottsdale and Phoenix, but there was a single sale. The single sale was in Scottsdale at the Optima Camelview community. It was for an oversized penthouse unit (two units combined) with three bedrooms, three and one-half baths and 3,233 square feet. It was a foreclosure and sold for its asking price at $1,299,800.
The positive note is that we did see a luxury condo sale in October following a September with no sales. Inventory is also down a little bit. However, the absence of any pending sales causes concern for November sales figures.
Search Phoenix and Scottsdale 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 11/1/2010 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
