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Scottsdale AZ Luxury Home Market – February 2024

March 29, 2024 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for February 2024 –

Now that we are further into the high season, we are seeing sales activity accelerate. Home sales increased quite a bit almost across the board.

In this report, we examine the luxury home market in Scottsdale. All of the homes were on the market for one million dollars or more. We then divide the information into four price bands to see additional detail and to track any trends.

– FEBRUARY 2024 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: The number of homes for sale increased again and climbed to the highest level we have seen in the past year.
– UCB Scottsdale Home Sales: The number of UCBs was up slightly over January.
– Pending Scottsdale Home Sales: Pending sales saw another healthy bump up in February. The month ended with 50 pendings. This is the first time we have seen pendings in the 50 range since May 2023.
– Scottsdale Homes Sold: Homes sales were up 32.4% over February.
– Sales Price to Listed Price: 96.7%- On average, buyers saw a discount of 3.3% off of list price.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

Scottsdale home sales between 1.5 and 2 million February 2024

– Active Scottsdale Homes on the Market: Inventory was up slightly in February and we ended with the highest number of listings we have seen in the past 12 months.
– UCB Scottsdale Home Sales: UCB contracts were up 28.2% over January. This is well ahead of the 12 month average of 21 and this is the highest they have been in the past year.
– Pending Scottsdale Home Sales: Pending sales were down very slightly, closing out the month at 21.
– Scottsdale Homes Sold: Home sales saw a 41.5% increase over January. There were 53 sales, which is the second highest we have seen sales in the past year.
– Sales Price to Listed Price: 97.4% – On average, buyers saw a discount of 2.6% off of list price.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

Scottsdale home sales between 2 and 3 million February 2024

– Active Scottsdale Homes on the Market: The number of homes for sale was up again in February. As I mentioned last month, the last time we saw inventory at 200+ was March 2018!
– UCB Scottsdale Home Sales: UCB contracts moved up to the highest level we have seen in the past year.
– Pending Scottsdale Home Sales: Pending sales were up by one over January.
– Scottsdale Homes Sold: Home sales were up 42.1% over the previous month and this was the third highest sales month in the last year.
– Sales Price to Listed Price: 99.4% – On average, buyers saw a discount of 0.6% off of list price.

Scottsdale Homes Priced $3,000,000+

Scottsdale home sales over 3 million February 2024

– Active Scottsdale Homes on the Market: The number of homes on the market inched up again and approached the 300 mark. As I mentioned last month, this is the highest number of homes for sale in this price point ever.
– UCB Scottsdale Home Sales: UCB contracts were up 43.8% over January. This is also the highest we have seen them in the past year.
– Pending Scottsdale Home Sales: Pending sales also saw a nice increase of 28.1%.
– Scottsdale Homes Sold: February’s sales were level with January.
– Sales Price to Listed Price: 97.1% – On average, buyers saw a discount of 2.9% off of list price.

If you would like additional details on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Here is a sample of some luxury homes that are currently for sale:

819 Listings

Heated Diving Pool & Spa include LED lighting, large green backyard with room for casita, sport court or whatever you'd like to add to this spacious yard with fruit trees and a regulation batting cage at the west end of this property.

$1,640,000 7235 E Paradise Drive
Scottsdale, AZ 85260 7235 E Paradise Drive
Scottsdale, AZ 85260Listing office: West USA Realty

$1,650,000 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255Listing office: Coldwell Banker Realty

$2,650,000 9424 E HIDDEN SPUR Trail
Scottsdale, AZ 85255 9424 E HIDDEN SPUR Trail
Scottsdale, AZ 85255Listing office: Silverleaf Realty

$1,874,900 7211 E SUNNYSIDE Drive
Scottsdale, AZ 85260 7211 E SUNNYSIDE Drive
Scottsdale, AZ 85260Listing office: Platinum Living Realty

$1,285,000 9487 E TRAILSIDE View
Scottsdale, AZ 85255 9487 E TRAILSIDE View
Scottsdale, AZ 85255Listing office: Platinum Living Realty

Aerial shows back & side to desert space, only 1 neighbor. New roof 2019. Two Bedrooms, Den, 2.5 Baths

$1,060,000 6924 E CANYON WREN Circle
Scottsdale, AZ 85266 6924 E CANYON WREN Circle
Scottsdale, AZ 85266Listing office: RE/MAX Excalibur

$6,750,000 23216 N 95TH Street
Scottsdale, AZ 85255 23216 N 95TH Street
Scottsdale, AZ 85255Listing office: RETSY

$2,250,000 26808 N 150TH Street
Scottsdale, AZ 85262 26808 N 150TH Street
Scottsdale, AZ 85262Listing office: Unique Homes Realty, Inc

$1,900,000 6501 E MONTE CRISTO Avenue
Scottsdale, AZ 85254 6501 E MONTE CRISTO Avenue
Scottsdale, AZ 85254Listing office: HomeSmart

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Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2024 and can change at any time. The analysis looks at single-family luxury resale homes in Scottsdale AZ 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. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright ©2024 Heather Tawes Nelson | Joyce Tawes

What Every Homebuyer Should Know About Closing Costs

March 26, 2024 By Heather Tawes Nelson

Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re busy saving for the down payment, don’t forget you’ll want to prep for closing costs too.

Here’s some helpful information on what those costs are and how much you should budget for them.

What Are Closing Costs?

A recent article from Bankrate explains:

“Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .”

Simply put, your closing costs are the additional fees and payments you have to make at closing. According to Freddie Mac, while they can vary by location and situation, closing costs typically include:

Government recording costs
Appraisal fees
Credit report fees
Lender origination fees
Title & Escrow services
Tax service fees
Survey fees
Attorney fees – If you live in an attorney state or employ an attorney during the transaction
Underwriting Fees

How Much Are Closing Costs?

According to the same Freddie Mac article mentioned above, they’re typically between 2% and 5% of the total purchase price of your home. With that in mind, here’s how you can get an idea of what you’ll need to budget.

Let’s say you find a home you want to purchase at today’s median price of $384,500. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $7,690 and $19,225.

But keep in mind, if you’re in the market for a home above or below this price range, your closing costs will be higher or lower.

Make Sure You’re Prepared To Close

Freddie Mac provides great advice for homebuyers, saying:

“As you start your homebuying journey, take the time to get a sense of all costs involved – from your down payment to closing costs.”

The best way to do that is by partnering with a team of trusted real estate professionals and your lender. That gives you a group of experts to help you understand how much you’ll need to save and what you’ll want to be prepared for. It also means you have go-to resources for any questions that pop up along the way.

Bottom Line

Planning for the fees and payments you’ll need to cover when you’re closing on your home is important. Partnering with a local real estate professional can give you the guidance and confidence you need throughout the process. Want to know more? Contact us and we will be happy to help!

Phoenix and Scottsdale AZ Luxury Condo Sales – February 2024

March 22, 2024 By Heather Tawes Nelson

Luxury Condo Sales in Scottsdale and Phoenix – February 2024

In keeping with high seasons past, February saw increased sales volume as well as a decent amount of new contracts.

This report looks at the sales activity of luxury condos, all of which were on the market at or above one million dollars.


Luxury Condo Market - February 2024
Phoenix and Scottsdale AZ
	All Luxury Condos	Scottsdale Luxury Condos	Phoenix Luxury Condos
Units on the Market
- Number of Units for Sale	82	65	17
- Average Asking Price	$2,121,082	$2,236,726	$1,678,913
- Average Asking Price Per Sq. Ft.	$913.49	$987.53	$630.37
- Average Days on Market*- Active	96	107	51

UCB Sales (Under Contract - Accepting Backup Offers)
- Number of Units UCB	9	3	6
- Average UCB Price	$1,288,717	$1,191,667	$1,337,242
- Average UCB Price Per Sq. Ft.	$697.51	$673.28	$709.63

Pending Sales
- Number of Units Pending	116	115	1
- Average Pending Price	$2,812,881	$2,827,340	$1,150,000
- Average Pending Price Per Sq. Ft.	$995.43	$999.96	$472.09

Luxury Condo Sales
- Number of Units Sold	13	9	4
- Average Sales Price	$2,1676,462	$2,279,444	$1,915,500
- Sales Price to List Price	95.8%	98.2%	90.0%
- Average Sold Sq. Feet	2,532	2,381	2,873
- Average Sales Price per Sq. Ft.	$842.76	$961.05	$616.82
- Average Days on Market* - Sold	99	120	51
- Highest Sale Price	$4,000,000	$3,800,000	$4,000,000
- Lowest Sale Price	$1,075,000	$1,075,000	$1,075,000
- Percentage of Total Sales	100%	69%	31%

ACTIVE LISTINGS AT THE END OF FEBRUARY

We added an additional ten units to the inventory of luxury condos for sale. By the end of February, there were 82 units in active status.

The most expensive condo for sale is a unit at ICON in Silverleaf. It has held this spot for several months now. It was designed with five bedrooms, five and one-half bathrooms and encompasses 5,534 square feet. The asking price was $6,900,000.

The lowest-priced luxury condo for sale was listed for $1,025,000. It was located in Optima Camelview Village and had two bedrooms and bathrooms and 1,448 square feet.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

UCB contracts were down slightly in February when compared to January. There were nine units in UCB status at the end of the month. Usually, Scottsdale has the majority of them, but a new development in Phoenix is starting to add to the UCB backlog.

UCB Condos in Scottsdale

Optima Camelview – Two bedrooms and bathrooms, 1,628 square feet. Asking price was $1,050,000.
Eagles Pass – Three bedrooms and bathrooms, 2,627 square feet. Asking price was $1,300,000.
Optima Kierland – Two bedrooms and bathrooms, 1,382 square feet. Asking price was $1,225,000.

UCB Condos in Phoenix

Toscana at Desert Ridge
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,225,641.
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,262,389.
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,280,049.
- Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,292,596.
- Three bedrooms, two and one-half bathrooms, 2,177 square feet. Asking price was $1,405,827.
- Two bedrooms, two and one-half bathrooms, 2,025 square feet. Asking price was $1,556,951.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Pending inventory continues to grow as sales activity is up and we have a number of new communities under development. At the end of the month, there were 116 pending sales in the pipeline.

Scottsdale Pending Luxury Condos

Optima Camelview – Four bedrooms, three and one-half baths, 3,680 square feet. Asking price was $2,495,000.
Optima Kierland
- Two bedrooms and two and one-half bathrooms, 1,579 square feet. Asking price was $1,430,000.
- Four bedrooms, three bathrooms, 2,476 square feet. Asking price was $2,950,000.
Plaza Lofts at Kierland – Three bedrooms, two and one-half bathrooms, 2,046 square feet. Asking price was $2,250,000.
Scottsdale Waterfront Residences
- Two bedrooms, two and one-half bathrooms, 1,919 square feet. Asking price was $1,695,000.
- Three bedrooms, two and one-half bathrooms, 2,503 square feet. Asking price was $2,200,000.
The Mark – Two bedrooms and bathrooms, 1,475 square feet. Asking price was $1,200,000.
Landmark Condominiums – Three bedrooms and bathrooms, 2,845 square feet. Asking price was $1,765,000.
Portico Scottsdale Condominiums – This is a new development in North Scottsdale.
- Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,025,000.
- Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,060,000.
- Two bedrooms, two and one-half bathrooms, 1,939 square feet. Asking price was $1,064,650.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,444,500.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,475,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,495,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,505,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,587,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,658,500.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,660,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,664,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,730,000.
- Three bedrooms and bathrooms, 2,396 square feet. Asking price was $1,733,400.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,743,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,744,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,769,000.
- 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 $1,845,750.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,899,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $1,935,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $2,007,000.
- Four bedrooms, three and one-half bathrooms, 2,768 square feet. Asking price was $2,016,950.
Ascent at the Phoenician – This is another fantastic development underway.
- One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,450,000.
- One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,475,000.
- Two bedrooms, two and one-half bathrooms, 1,789 square feet. Asking price was $1,600,000.
- Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,600,000.
- Two bedrooms, two and one-half bathrooms, 1,789 square feet. Asking price was $1,650,000.
- Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,650,000.
- One bedroom, two bathrooms, 1,519 square feet. Asking price was $1,725,000.
- One bedroom, two bathrooms, 1,519 square feet. Asking price was $1,725,000.
- Two bedrooms, two and one-half bathrooms, 2,346 square feet. Asking price was $1,875,000.
- Two bedrooms, two and one-half bathrooms, 2,547 square feet. Asking price was $1,925,000.
- Two bedrooms, two and one-half bathrooms, 2,346 square feet. Asking price was $1,950,000.
- One bedroom, two bathrooms, 1,896 square feet. Asking price was $1,975,000.
- Two bedrooms, two and one-half bathrooms, 2,547 square feet. Asking price was $1,995,000.
- Two bedrooms, two and one-half bathrooms, 1,767 square feet. Asking price was $2,025,000.
- Two bedrooms, two and one-half bathrooms, 2,374 square feet. Asking price was $2,050,000.
- Two bedrooms and bathrooms, 1,847 square feet. Asking price was $2,075,000.
- One bedroom, two bathrooms, 1,677 square feet. Asking price was $2,100,000.
- One bedroom, two bathrooms, 1,678 square feet. Asking price was $2,100,000.
- One bedroom, two bathrooms, 1,678 square feet. Asking price was $2,175,000.
- Two bedrooms, two and one-half bathrooms, 2,589 square feet. Asking price was $2,175,000.
- One bedroom, two bathrooms, 1,677 square feet. Asking price was $2,195,000.
- Two bedrooms and bathrooms, 2,157 square feet. The asking price was $2,225,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,285,000.
- Two bedrooms, three bathrooms, 2,157 square feet. Asking price was $2,350,000.
- Two bedrooms and bathrooms, 2,294 square feet. Asking price was $2,385,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,395,000.
- Two bedrooms, two and one-half bathrooms, 1,848 square feet. Asking price was $2,395,000.
- Two bedrooms, three bathrooms, 2,294 square feet. Asking price was $2,395,000.
- Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,395,000.
- Two bedrooms, three bathrooms, 2,157 square feet. Asking price was $2,425,000.
- Two bedrooms and bathrooms, 2,068 square feet. Asking price was $2,485,000.
- Two bedrooms, two and one-half bathrooms, 2,160 square feet. Asking price was $2,485,000.
- Two bedrooms, two and one-half bathrooms, 1,848 square feet. Asking price was $2,625,000.
- Two bedrooms, three bathrooms, 2,593 square feet. Asking price was $2,695,000.
- Two bedrooms and bathrooms, 2,157 square feet. Asking price was $2,750,000.
- Two bedrooms, two and one-half bathrooms, 2,160 square feet. Asking price was $2,795,000.
- Two bedrooms and bathrooms, 2,579 square feet. Asking price was $2,850,000.
- Two bedrooms and bathrooms, 2,318 square feet. Asking price was $2,950,000.
- Two bedrooms and bathrooms, 2,683 square feet. Asking price was $2,985,000.
- Two bedrooms. three bathrooms, 2,510 square feet. Asking price was $2,995,000.
- Two bedrooms. three bathrooms, 2,599 square feet. Asking price was $2,995,000.
- Two bedrooms, three bathrooms, 2,497 square feet. Asking price was $3,050,000.
- Two bedrooms, three bathrooms, 2,592 square feet. Asking price was $3,100,000.
- Two bedrooms, three bathrooms, 2,527 square feet. Asking price was $3,275,000.
- Two bedrooms and bathrooms, 2,318 square feet. Asking price was $3,385,000.
- Two bedrooms and bathrooms, 2,592 square feet. Asking price was $3,525,000.
- Two bedrooms and bathrooms, 2,526 square feet. Asking price was $3,695,000.
- 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, four bathrooms, 3,037 square feet. Asking price was $4,150,000.
- Three bedrooms, four bathrooms, 3,200 square feet. Asking price was $4,295,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,450,000.
- Three bedrooms, three bathrooms, 3,141 square feet. Asking price was $4,475,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,500,000.
- Three bedrooms, four bathrooms, 3,166 square feet. Asking price was $4,595,000.
- Three bedrooms and bathrooms, 3,200 square feet. Asking price was $4,725,000.
- Three bedrooms, three and one-half bathrooms, 3,996 square feet. Asking price was $4,750,000.
- Three bedrooms, three bathrooms, 3,141 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, three and one-half bathrooms, 3,170 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 $3,195,000.
- 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.
- Three bedrooms, four bathrooms, 3,157 square feet. Asking price was $3,600,000.
- Three bedrooms, four bathrooms, 3,867 square feet. Asking price was $3,600,000.
- Three bedroons, four bathrooms, 3,329 square feet. Asking price was $3,900,000.
- Five bedrooms, five and one-half bathrooms, 5,534 square feet. Asking price was $5,400,000.
- Five bedrooms, five and one-half bathrooms, 5,534 square feet. Asking price was $5,985,000.
- 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

Biltmore Square – Three bedrooms and bathrooms, 2,436 square feet. Asking price was $1,150,000.
Toscana at Desert Ridge -Two bedrooms, two and one-half bathrooms, 1,780 square feet. Asking price was $1,170,977.
Esplanade Place – Four bedrooms, three and one-half bathrooms, 4,286 square feet. Asking price was $4,475,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Sales were up in February after a busy January. Thirteen units closed during February. Nine of the sales were located in Scottsdale and the rest were located in Phoenix.

Scottsdale Luxury Condo Sales

Optima Camelview
- Three bedrooms, three and one-half bathrooms, 3,223 square feet. Asking price was $3,295,000 and it closed for $3,230,000.
- Two bedrooms and bathrooms, 1,781 square feet. Asking price was $1,590,000 and it closed for list price.
- Three bedrooms, two and one-half bathrooms, 2,615 square feet. Asking price was $2,395,000. and it closed for $2,258,000.
Optima Kierland
- Three bedrooms and bathrooms, 2,232 square feet. Asking price was $3,200,000 and it closed for list price.
- Two bedrooms and bathrooms, 1,386 square feet. Asking price was $1,275,000 and it sold for $1,237,000.
ICON at Silverleaf – Two bedrooms, two and one-half bathrooms, 2,757 square feet. Asking price was $2,275,000 and it closed for $2,200,000.
Scottsdale Waterfront Residences – Two bedrooms, two and one-half bathrooms, 2,922 square feet. Asking price was $3,750,000 and it closed over asking price at $3,800,000.
The Reserve – Two bedrooms, two and one-half bathrooms, 2,020 square feet. Asking price was $1,129,000 and it closed for $1,075,000.
Retreat at Seven Desert Mountain – Three bedrooms, three and one-half bathrooms, 2,489 square feet. Asking price was $1,984,900 and it closed for $1,925,000.

Phoenix Luxury Condo Sales

Esplanade Place
- Two bedrooms and bathrooms, 2,417 square feet. Asking price was $1,189,000 and it sold for $1,075,000.
- Four bedrooms, three and one-half bathrooms, 4,286 square feet. Asking price was $4,475,000 and it sold for $4,000,000.
Fairway Lodge
- Three bedrooms, two and one-half bathrooms, 2,042 square feet. Asking price was $1,295,000.
- Three bedrooms, two and one-half bathrooms, 2,748 square feet. Asking price was $1,550,000.

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Currently Listed Luxury Condos for Sale

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80 Matches Found

Listings Per Page

$1,495,000

7180 E KIERLAND Boulevard, 509, Scottsdale, AZ

Active
2BD 2BA 1,511SF

Last Modified: 3:37pm, December 22, 2024

Listing Office: HomeSmart

$2,100,000

7180 E KIERLAND Boulevard, 416, Scottsdale, AZ

Active
3BD 2.5BA 1,954SF

Last Modified: 3:36pm, December 22, 2024

Listing Office: HomeSmart

$1,750,000

7147 E Rancho Vista Drive, 4011, Scottsdale, AZ

Active
3BD 2BA 1,922SF

Last Modified: 12:34am, December 22, 2024

Listing Office: Compass

$1,650,000

7151 E RANCHO VISTA Drive, 5001, Scottsdale, AZ

Active
3BD 2BA 1,681SF

Last Modified: 12:31am, December 22, 2024

Listing Office: Compass

$2,295,000

7127 E Rancho Vista Drive, 4001, Scottsdale, AZ

Active
3BD 2BA 2,171SF

Last Modified: 12:29am, December 22, 2024

Listing Office: Compass

$3,195,000

7117 E RANCHO VISTA Drive, 5003, Scottsdale, AZ

Active
3BD 2BA 2,228SF

Last Modified: 12:29am, December 22, 2024

Listing Office: Compass

$1,395,000

7127 E Rancho Vista Drive, 4012, Scottsdale, AZ

Active
2BD 2BA 1,448SF

Last Modified: 12:28am, December 22, 2024

Listing Office: Compass

$2,195,000

37200 N CAVE CREEK Road, 1119, Scottsdale, AZ

Active
3BD 3.5BA 2,489SF

Last Modified: 7:34pm, December 20, 2024

Listing Office: Berkshire Hathaway HomeServices Arizona Properties

$1,975,000

7181 E Camelback Road, 702, Scottsdale, AZ

Active
2BD 2.5BA 2,041SF

Last Modified: 7:21pm, December 20, 2024

Listing Office: RETSY

$3,495,000

7180 E KIERLAND Boulevard, 1008, Scottsdale, AZ

Active
3BD 3BA 2,018SF

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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 3/1/2024 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 ©2024 Heather Tawes Nelson | Joyce Tawes

Why Today’s Seller’s Market Is Good for Your Bottom Line

March 19, 2024 By Heather Tawes Nelson

Thinking about selling your house and wondering if now’s a good time to do it? Here’s what you need to know. Even though the number of homes for sale has been growing this year, there still aren’t enough homes on the market for all the buyers who want to buy.

So, what does that mean for you? To keep it simple, it means it’s still a seller’s market. Here’s how it works:

A neutral market is when supply and demand are balanced. Basically, there are enough homes to meet buyer demand based on the current sales pace, and home prices hold fairly steady.
A buyer’s market is when there are more homes for sale than there are buyers. When that happens, buyers have more negotiation power because with so many homes for sale, sellers are willing to make compromises in order to close the deal. In a buyer’s market, sellers may have to do price cuts to re-ignite interest in their home, and prices may go down. But we haven’t seen this for years since there are currently fewer homes available to buy.
In a seller’s market, it’s just the opposite. When the supply of homes for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final sale price of your house up.

The graph below uses data from the National Association of Realtors to show just how deep into seller’s market territory we still are today:

At the end of February, Scottsdale’s months of inventory came in at around 3.8 months, so it is still a seller’s market as well.

What Does This Mean for You?

The market is still working in your favor. If you lean on an agent for advice on how to get your house list ready and how to price it competitively, it should get attention from eager buyers. That means you could receive multiple offers and see your house selling quickly and for top dollar. As a recent article from Ramsey Solutions explains:

“A seller’s market is when demand for homes is higher than the supply of homes. And that’s still the case right now. If you’re planning to sell your house, you can expect to sell it fairly quickly for close to your asking price—as long as your asking price is realistic for the current market.”

Bottom Line

Today’s housing market still favors sellers. If you’re ready to sell your house, let’s connect so you can start making your moves.

Quick Video Update of the Scottsdale Real Estate Market – February 2024

March 15, 2024 By Heather Tawes Nelson

– February 2024 Scottsdale Housing Market Video –

Here is a quick video overview of the Scottsdale, Arizona single-family home real estate market that covers the month of February.

February 2024 – Video

Scottsdale Active Listings

Inventory is on the rise, which is great news for buyers who have had to deal with low inventory for a while.

The number of homes for sale was up to 1,240 by the end of February. This is up 5.0% over January and up 13.5% when compared with February of 2023.

Average List Price for Scottsdale Homes

Scottsdale average list price February 2024

I used to use median listing price data, but I no longer have accurate access to that information. So, I have started to track average listing prices. (Technically, the median price is a better indicator since the average price can skew one way or the other due to extremely cheap or extremely high list prices, but this will still give you a decent idea of the prices of homes in Scottsdale.)

The average list price in Scottsdale continued on its upward trajectory and came in at over $2.5 million. This represents a 2.6% increase over January’s average list price and an 8.3% increase over February of last year.

Days on Market

Days on Market (which you will also see shown as DOM) is a quick and easy way to gauge the temperature of a given market. High Days on Market numbers mean it is taking longer for homes to sell. Conversely, a low Days on Market means homes are selling at a brisker pace.

The DOM for Scottsdale in February was 75. This is up 2.7% compared to January’s 73, but down 4.0% compared to the same time last year.

Average Sales Price for Scottsdale Homes

Scottsdale average sales price February 2024

We saw average listing prices above and now we will examine average sales prices.

The average sales price in February was just under $1.5 million. This is up 4.8% over January and up 1.3% over February 2023.

Number of Homes Sold

Homes sales activity really picked up in February, closing out with 324 sales. This was up 24.7% over January’s 244 sales and up 17.0% over February 2023’s sales.

Since we are in the high season, I anticipate this figure will go higher in March.

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel.

Interested in other stats for our market? Visit our Real Estate Market Update page.

Here Are Some Scottsdale Homes Currently For Sale

1,920 Listings

$989,995 8100 E CAMELBACK Road, 178
Scottsdale, AZ 85251 8100 E CAMELBACK Road, 178
Scottsdale, AZ 85251Listing office: Century 21 Arizona Foothills

$972,500 14988 N 100TH Way
Scottsdale, AZ 85260 14988 N 100TH Way
Scottsdale, AZ 85260Listing office: eXp Realty

$919,000 7330 E PALO VERDE Drive, 9
Scottsdale, AZ 85250 7330 E PALO VERDE Drive, 9
Scottsdale, AZ 85250Listing office: Coldwell Banker Realty

$1,350,000 4645 N 65TH Street
Scottsdale, AZ 85251 4645 N 65TH Street
Scottsdale, AZ 85251Listing office: HomeSmart

$385,000 4600 N 68TH Street, 313
Scottsdale, AZ 85251 4600 N 68TH Street, 313
Scottsdale, AZ 85251Listing office: Compass

$849,000 6439 E PRESIDIO Road
Scottsdale, AZ 85254 6439 E PRESIDIO Road
Scottsdale, AZ 85254Listing office: Crossroads Brokerage

$1,640,000 7235 E Paradise Drive
Scottsdale, AZ 85260 7235 E Paradise Drive
Scottsdale, AZ 85260Listing office: West USA Realty

$1,650,000 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255Listing office: Coldwell Banker Realty

$799,000 7151 E RANCHO VISTA Drive, 1001
Scottsdale, AZ 85251 7151 E RANCHO VISTA Drive, 1001
Scottsdale, AZ 85251Listing office: RE/MAX Fine Properties

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Disclaimer: Data deemed to be accurate, but is not guaranteed.

What Mortgage Rate Do You Need To Move?

March 12, 2024 By Heather Tawes Nelson

If you’ve been thinking about buying a home, mortgage rates are probably top of mind for you. They may even be why you’ve put your plans on hold for now. When rates climbed near 8% last year, some buyers found the numbers just didn’t make sense for their budget anymore. That may be the case for you too.

Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below):

David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast:

“Three quarters of buyers said ‘we’re out’ due to mortgage rates. Here’s what I know going forward. That will change in 2024.”

That’s because mortgage rates have come down off of their peak last October. And while there’s still day-to-day volatility in rates, the longer-term projections show rates should continue to drop this year, as long as inflation gets under control. Experts even say we could see rates below 6% by the end of 2024. And that threshold would be a game-changer for a lot of buyers. As a recent article from Realtor.com says:

“Buying a home is still desired and sought after, but many people are looking for mortgage rates to come down in order to achieve it. Four out of 10 Americans looking to buy a home in the next 12 months would consider it possible if rates drop below 6%.”

While mortgage rates are nearly impossible to forecast, the optimism from the experts should give you insight into what’s ahead. If your plans were delayed, there is potential light at the end of the tunnel again. That means it may be time to start thinking about your move. The best question you can ask yourself right now, is this:

What number do I want to see rates hit before I’m ready to move?

The exact percentage where you feel comfortable kicking off your search again is personal. Maybe it’s 6.5%. Maybe it’s 6.25%. Or, maybe it’s once they drop below 6%.

Once you have that number in mind, here’s what you do. Connect with a local real estate professional. They’ll help you stay informed on what’s happening. And when rates hit your target, they’ll be the first to let you know.

Bottom Line

If you’ve put your plans to move on hold because of where mortgage rates are, think about the number you want to see rates hit that would make you ready to re-enter the market.

Once you have that number in mind, let’s connect so you have someone on your side to let you know when we get there.

The Truth About Down Payments

March 9, 2024 By Heather Tawes Nelson

If you’re planning to buy your first home, saving up for all the costs involved can feel daunting, especially when it comes to the down payment. That might be because you’ve heard you need to save 20% of the home’s price to put down. Well, that isn’t necessarily the case.

Unless specified by your loan type or lender, it’s typically not required to put 20% down. That means you could be closer to your homebuying dream than you realize.

As The Mortgage Reports says:

“Although putting down 20% to avoid mortgage insurance is wise if affordable, it’s a myth that this is always necessary. In fact, most people opt for a much lower down payment.”

According to the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. In fact, for all homebuyers today it’s only 15%. And it’s even lower for first-time homebuyers at just 8% (see graph below):

The big takeaway? You may not need to save as much as you originally thought.

Learn About Resources That Can Help You Toward Your Goal

According to Down Payment Resource, there are over 2,000 homebuyer assistance programs in the U.S., and many of them are intended to help with down payments.

Plus, there are loan options that can help too. For example, FHA loans offer down payments as low as 3.5%, while VA and USDA loans have no down payment requirements for qualified applicants.

With so many resources available to help with your down payment, the best way to find what you qualify for is by consulting with your loan officer or broker. They know about local grants and loan programs that may help you out.

Don’t let the misconception that you have to have 20% saved up hold you back. If you’re ready to become a homeowner, lean on the professionals to find resources that can help you make your dreams a reality. If you put your plans on hold until you’ve saved up 20%, it may actually cost you in the long run. According to U.S. Bank:

“. . . there are plenty of reasons why it might not be possible. For some, waiting to save up 20% for a down payment may “cost” too much time. While you’re saving for your down payment and paying rent, the price of your future home may go up.”

Home prices are expected to keep appreciating over the next 5 years – meaning your future home will likely go up in price the longer you wait. If you’re able to use these resources to buy now, that future price growth will help you build equity, rather than cost you more.

Bottom Line

Keep in mind that you don’t always need a 20% down payment to buy a home. If you’re looking to make a move this year, let’s connect to start the conversation about your homebuying goals.

Scottsdale AZ Single Family Home Sales – February 2024

March 6, 2024 By Heather Tawes Nelson

– February 2024 Scottsdale Homes for Sale and Home Sales –

The Scottsdale real estate market is in full swing as evidenced by the increase in contract and sales activity.

SCOTTSDALE HOME SALES ACTIVITY – FEBRUARY 2024

We track the following sales metrics on a monthly basis:

– Single-family homes for sale – Orange Line – The number of homes showing active at the end of the month.
– Under contract, but accepting backup offers (UCB) – Gray Line – How many homes were in UCB status at the end of the month.
– Pending home sales – Yellow Line – The number of pending contracts there were at the end of the month.*
– Home Sales – Blue Line – The number of homes sold each month.

FEBRUARY 2024 RESULTS

Scottsdale Homes for Sale: This might be the most inventory we have seen since the beginning of 2020! This is great news for buyers who have been dealing with fewer homes on the market.
UCB (Under contract, accepting backup offers): February closed out with the second-highest number of UCB contracts we have seen in the past year.
Pending Homes Sales in Scottsdale: Pendings were also up in February. The last time we saw them this high was around last May and June.
Scottsdale Home Sales: Home sales were also up, crossing into the 300’s for the first time since last August. Depending on what happens with interest rates, we hope to see sales increase over the next couple of months.

Here, we will examine two more sales metrics that we track monthly:

Scottsdale real estate market February 2024

Percent Change Month Over Month – In the top chart, we look at how things changed relative to the prior month. For example, the number of UBC contracts was up 20.8% when compared with January.

Sales Price to List Price – In the bottom chart, we are looking at what price homes sold for on average compared to their average listing price. The sales price to list price in February was 97.7%, which means buyers saw an average discount of 2.3% off of list price.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Curious about your buying power? Click on the link to learn more.

Search All Scottsdale AZ Homes for Sale

Here are some homes in Scottsdale currently for sale:

1,920 Listings

$989,995 8100 E CAMELBACK Road, 178
Scottsdale, AZ 85251 8100 E CAMELBACK Road, 178
Scottsdale, AZ 85251Listing office: Century 21 Arizona Foothills

$972,500 14988 N 100TH Way
Scottsdale, AZ 85260 14988 N 100TH Way
Scottsdale, AZ 85260Listing office: eXp Realty

$919,000 7330 E PALO VERDE Drive, 9
Scottsdale, AZ 85250 7330 E PALO VERDE Drive, 9
Scottsdale, AZ 85250Listing office: Coldwell Banker Realty

$1,350,000 4645 N 65TH Street
Scottsdale, AZ 85251 4645 N 65TH Street
Scottsdale, AZ 85251Listing office: HomeSmart

$385,000 4600 N 68TH Street, 313
Scottsdale, AZ 85251 4600 N 68TH Street, 313
Scottsdale, AZ 85251Listing office: Compass

$849,000 6439 E PRESIDIO Road
Scottsdale, AZ 85254 6439 E PRESIDIO Road
Scottsdale, AZ 85254Listing office: Crossroads Brokerage

$1,640,000 7235 E Paradise Drive
Scottsdale, AZ 85260 7235 E Paradise Drive
Scottsdale, AZ 85260Listing office: West USA Realty

$1,650,000 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255 11917 E MARIPOSA GRANDE Drive
Scottsdale, AZ 85255Listing office: Coldwell Banker Realty

$799,000 7151 E RANCHO VISTA Drive, 1001
Scottsdale, AZ 85251 7151 E RANCHO VISTA Drive, 1001
Scottsdale, AZ 85251Listing office: RE/MAX Fine Properties

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Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2024. 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 © 2024 Heather Tawes Nelson | Joyce Tawes

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– Scottsdale Luxury Home Market Performance for February 2024 –

– FEBRUARY 2024 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

Scottsdale Homes Priced $3,000,000+

What Are Closing Costs?

How Much Are Closing Costs?

Make Sure You’re Prepared To Close

Bottom Line

Luxury Condo Sales in Scottsdale and Phoenix – February 2024

ACTIVE LISTINGS AT THE END OF FEBRUARY

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

UCB Condos in Scottsdale

UCB Condos in Phoenix

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Scottsdale Pending Luxury Condos

Phoenix Pending Luxury Condos

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Scottsdale Luxury Condo Sales

Phoenix Luxury Condo Sales

Currently Listed Luxury Condos for Sale

What Does This Mean for You?

Bottom Line

– February 2024 Scottsdale Housing Market Video –

February 2024 – Video

Scottsdale Active Listings

Average List Price for Scottsdale Homes

Days on Market

Average Sales Price for Scottsdale Homes

Number of Homes Sold

Here Are Some Scottsdale Homes Currently For Sale

What number do I want to see rates hit before I’m ready to move?

Bottom Line

Learn About Resources That Can Help You Toward Your Goal

Bottom Line

– February 2024 Scottsdale Homes for Sale and Home Sales –

SCOTTSDALE HOME SALES ACTIVITY – FEBRUARY 2024

FEBRUARY 2024 RESULTS

Here are some homes in Scottsdale currently for sale:

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