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Luxury Condo Market in Scottsdale and Phoenix – 2012 Results

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Scottsdale Waterfront Residences-2012 Results for Phoenix and Scottsdale Luxury Condo Sales-

Here is the 2012 sales report on luxury condos in Scottsdale and Phoenix. For the purposes of this report, I am looking at condos with list prices of $1 million and above.

The information is divided into three groups. The first is summary information for Scottsdale and Phoenix. Then, the same information is shown at an individual city level. At the end of this post, I have a chart showing sales from 2009-2012.

2012 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

2012 sales of luxury condos in Scottsdale and Phoenix were much stronger than we saw last year. We concluded the year with 29 sales, as compared to 2011 when there were 20 sales.

Condo sales took place in various luxury communities including: Scottsdale Waterfront Residences, Optima Camelview, Safari Drive, The Landmark and Kierland Plaza Lofts, all in Scottsdale, and at Two Biltmore Estates, Esplanade Place and The Residences at 2211 Camelback, in Phoenix.

The most expensive sale of the year was $2.7 million at the Kierland Plaza Lofts at Kierland Commons in North Scottsdale. It had 3,919 square feet, two bedrooms plus an office and three and one-half bathrooms, in addition to spectacular views. The listed price when it went under contract was $2,995,000.

The least expensive luxury condo sale sale was a unit at Safari Drive in Downtown Scottsdale. The condo had three bedrooms and bathrooms, 2,610 square feet and sold for $935,000. The asking price had been $1,050,000.

Luxury Condo sales report Scottsdael Phoenix 2012

2012 SCOTTSDALE LUXURY CONDO SALES

This section looks at sales activity for Scottsdale luxury condos. Twenty-two of the twenty-nine sales in 2012 took place in Scottsdale. However, to be fair, Scottsdale also has a larger inventory of luxury condos for sale.

As we saw above, sales activity was booming in the first part of the year and then dropped off sharply in Q3. We did see a nice bounceback in Q4 though.

Both the highest and lowest priced sales of 2012 took place in Scottsdale.

2012 Luxury Condo Sales in Scottsdale AZ

2012 PHOENIX LUXURY CONDO SALES

Now, here is a look at sales for Phoenix luxury condos. Only seven of the twenty-nine sales in 2012 were in Phoenix.

The highest priced sale in Phoenix in 2012 was a Esplanade Place, located in the Biltmore corridor. This $2 million dollar sale was for a penthouse unit with three bedrooms, three and one-half bathrooms and 4,286 square feet. The asking price when it went under contract had been $2,450,000.

Phoenix’s lowest priced luxury condo sale was also at Esplanade Place.  This condo had 2,417 square feet, two bedroom and  two bathrooms. The list price had been $1,199,995 and it ultimately sold for $975,000.

2012 luxury condo salses in Phoenix.

LUXURY CONDO SALES YEAR OVER YEAR – 2009-2012

Here is a snapshot of annual sales and average sales price for Scottsdale and Phoenix luxury condos over the years from 2009 to 2012.

As you can see, 2012 was a good year for sales activity and we saw average sales price increase across the board.

Phoenix Scottsdale Luxury Condo Sales 2009 - 2012

In summary,  the Phoenix and Scottsdale luxury condo market had a much improved year. Sales were heavily weighted to the front half of the year, but we did see a nice rebound at the end. It will be interesting to see how things unfold for this market in 2013.


Search Luxury Condos for Sale in Scottsdale and Phoenix


Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/11/2013 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Events: Street Eats Food Truck Festival

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– SCOTTSDALE ARIZONA EVENTS: STREET EATS FOOD TRUCK FESTIVAL–

ITaking it to the streets Grayhawk Scottsdale AZ want to send a big thanks out to Aaron Studebaker, the Director of Sales and Marketing, for bringing the  Street Eats Food Truck Festival to the Salt River Fields at Talking Stick in the Scottsdale area.  It seems Aaron was visiting his brother in Los Angeles and they decided to do dinner at a traveling gourmet food-truck that was going to be in their neighborhood.  After waiting over two hours in line for a grilled cheese (that would be mac and cheese with pulled pork) – he was hooked!

We headed out to the Street Eats Food Truck Festival around noon on Saturday. Scottsdale was experiencing some unusually cold weather and I wasn’t anxious to go out too early.  As it turned out, it was a bright, clear day and a comfortable temperature for walking around and enjoying tScottsdale Event Street Eats 2013he sights.

It was one of the most well-organized events I have attended in a long time.  There was great signage from the freeway, parking was included in the ticket price and attendants to guide you into the closest spaces to the event.  Walking over to the field location was fun as we had a great view of all of the fabulous practice and training areas for the Diamondbacks.  They were having a baseball camp for teenagers and it was fun to see how well some of these youngsters play and how well they were doing in the batting cages.

Entry fee was $10 per person and you could buy tickets for food and drink from a number of different places at $2 per ticket. Once we got inside the Festival area, I immediately went to the tent where they were going to hold a cooking demonstration by Iron Chef Geoffrey Zakarian.  It was standing room only and Chef Zakarian put on a great show for the audience.  He made making risotto seem like a “snap” – a favorite dish of mine, but one that can be tricky to pull off correctly.

We then walked the full perimeter of the area to see what was being presented before we chose a place to eat.  We saw a couple of other fun , interesting sights as we strolled along.  The “Droid” was there and was a bigWhisky River Food Truck Phoenix AZ hit with the little ones. We saw two young ladies making balloon characters for the children. And, I was a bit taken aback when a “horse” tapped me on the shoulder and suggested we try some of the traditional Indian Food from his particular truck.  (Didn’t talk – just gestured with his “hooves…”)

One of my favorite trucks was “Taking it to the Streets”.  This was the group from the new Isabella’s Kitchen at the Grayhawk Golf Club.  I have been looking forward to visiting the restaurant as it has had great reviews.  They encouraged us to stop in on Wednesday night – they have Happy Hour between 5 and 8 PM and they said it was a good way to sample several different offerings.

Rocking Rays Eats Scottsdale AZI had two other favorite trucks.  The first was a large truck painted like a big bull from the Whiskey River Saloon in North Phoenix.  Second was the Rockin Ray’s.  A sleek metal trailer with retro chrome and steel tables and stools.  It’s pulled by a vintage pick up truck painted in the same gray metal color and totally “tricked out”.  The fact that they were serving San Francisco crab rolls might have biased my opinion a bit, as well.

For families, they had a great children’s play area – a 40 foot slide was fun for all ages and they had these large clear balls floating on water that kids could get into and propel along.  Just like a hamster!

And, I never go to one event that I don’t learn something new about Scottsdale area.  The open bandstand in the back was featuring different rock groups as entertainment.  The School of Rock nightclub on Mill AvenKid Fun at 2013 Food Truck Event Scottsdale AZue in Tempe sponsored the show.  The School of Rock opened in September of 2010 with the purpose of giving local artists (as well as national bands) the opportunity to perform for live audiences.  We caught the performance by “Soldiers of Virtue” consisting of three young men.  Well, we think they were all young men – one had a horse’s head, but……  we enjoyed the music!

They also had a few contests going on on the stage including a Hot Dog Eating Contest, a Pie Eating Contest, and a Twinkies Eating Contest (wonder where they got the Twinkies?)

All in all, it was a fabulous afternoon.  I would highly recommend the event for families as well as “foodies” or adventurous types who want to sample new and different kinds of food and drink.  We are looking forward to next year!

Where to Eat in Scottsdale AZ: Culinary Dropout

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Culinary Dropout Dining Scottsdale AZI have wanted to go to Culinary Dropout in Downtown Scottsdale since it opened a while back and for some reason or the other, still had not done so until I finally got my chance to do so.  And I am so glad that I did.

We went in for lunch and our server was great about going over the menu and describing all of the different things that they had available as well as pointing out his favorites. He explained that the menu was an all day menu so that what was offered at lunch was the same as what was offered for dinner.

Culinary Dropout PretzelOne of the recommendations to start was the soft pretzels and provolone fondue. It was delicious and it will be hard to go back to the soft pretzels we are all familiar with. Culinary Dropout’s  pretzels were more like large, chewy pretzel bites and they were hot and delicious with just the right amount of sea salt. The provolone fondue to dip the pretzels in was great as well. This starter may have been my favorite part of the meal.  We also ordered a side of roasted beets and they were really tasty too.

I was leaning toward ordering the turkey pastrami sandwich for my main course, but since it comes on a pretzel roll, the server recommended trying the butternut squash cannelloni entree instead. The butternut squash cannelloni was really interesting and good. The cannelloni was stuffed with butternut squash purée and it sat on a bed of sauteed onions, Brussels sprout leaves and mushrooms and a little bit of of a creamy sauce.  I really enjoyed it as it was a departure from what I would normally order.

Culinary Dropout Restaurant ScottsdaleMy dining partner ended up having the seared tuna salad which came with tuna, wasabi peas, cashews in a vinaigrette made with ginger. It was a good sized portion that he said he would order again.

There were a lot of things on the menu that I did not get a chance to try, so I will definitely be making a return visit to Culinary Dropout.

And, if you do not get to Scottsdale that often, they are opening a new location in Phoenix at The Yard (5632 N. 7th Street, Phoenix) on February 11th.

More Information:
Culinary Dropout
– S.W. Corner of Scottsdale Road and Camelback Road
7135 E. Camelback Rd. Suite 125
Scottsdale Arizona 85251
480.970.1700
Website

Opens at 11 AM Daily

 

Scottsdale AZ Luxury Home Market – December 2012

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Scottsdale AZ Luxury Home Troon Area– Scottsdale AZ Luxury Home Market Performance for December 2012 –

This is the final market report of 2012 for the Scottsdale Arizona luxury home market. This report looks at sales activity for homes with list prices over $1 million and breaks it into several price range categories for more detailed analysis.

Each of the price ranges will include the following home sales information:
Active- The number of homes for sale the end of the month.
Pending – The number of homes under contract at the end of the month.
Sold – The number of completed homes sales during the month.

– December 2012 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market:  The number of homes for sale dropped slightly at the end of the month to 173, in part due to home listings expiring at the end of the year.
– Pending Scottsdale Home Sales: Pending home sales were down quite a bit in December, to 16. The 12 month average for this is 22 homes.
– Scottsdale Homes Sold: Sales held steady at 21 in December. This is right on track with the 12 month average and was a nice way to end the year.
– Sales Price to Listed Price: 93.4% – This is a solid number and is more or less where this has been tracking in the latter part of the year.

 Scottsdale AZ Home Sales between $1 and $1.5 million December 2012


Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: Inventory in  this price point was up again for the fourth month in a row.
– Pending Scottsdale Home Sales: Pending sales dropped off to the lowest we have seen since February of 2012.
– Scottsdale Homes Sold: Eleven homes sold again in December, which was another good showing and ahead of the 12 month average of 9.
– Sales Price to Listed Price: 93.3% – This is about where this figure has been for the last few months.

Scottsdale AZ Home Sales between $1.5 and $2 million December 2012


Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: The number of homes for sale dropped by the end of the month to 104. Again, I would attribute some of this to listings expiring at the end of the year.
– Pending Scottsdale Home Sales: Pending home sales dropped sharply to only a single home under contract. This is well below the 12 month average of 6 pending sales.
– Scottsdale Homes Sold: In contrast, there were six sales in December, a strong figure to end the year.
– Sales Price to Listed Price: 88.6% – This is lower than we have been seeing over the past couple of months.

Scottsdale AZ Home Sales between $2 and $3 million December 2012

Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market:  Inventory was up slightly to 105. This is well ahead of the 12 month average of 92 homes for sale.
– Pending Scottsdale Home Sales: There were two pending sales at December’s end, which is right on track with the 12 month average of 2.
– Scottsdale Homes Sold:  This price point had a great sales month with 4 homes sold. This is the second highest we have seen this all year.
– Sales Price to Listed Price: 91.1% – This is a strong figure for this price point and was the second highest it has been in 2012.

Scottsdale AZ Home Sales Over $3 million December 2012

The Scottsdale luxury home market had a mixed month in December. Inventory levels were mixed and some price points saw decreases due to expiring listings at the end of the year. Pending sales were down in most price segments, which means January sales figures will be impacted. On a more positive note, sales held their own in the lower price points and did well in the higher ones.

To see more detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the “Scottsdale Market Trends” report.

 Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2013 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 implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Phoenix and Scottsdale AZ Luxury Condo Sales – December 2012

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– Phoenix and Scottsdale AZ Luxury Condo Sales – December 2012 –

Here is the final monthly report for 2012 for the Phoenix and Scottsdale luxury condo market. The year closed out with a very healthy sales figure and a few new pending sales entered the pipeline to carry in to 2013.

For the purposes of this report, I define the Scottsdale and Phoenix luxury condo market as units with asking prices of $1 million and above. The chart below details the sales activity for the entire market as well as for each of the cities.

 

December 2012 Phoenix Scottsdale Luxury Condos

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of the year, there were three pending sales, all of them in Scottsdale. Two were new contracts and one was a carryover from the previous month.

  • Two of the three were located at the Kierland Plaza Lofts. The first was a two bedroom, two and one-half bathroom condo on the seventh floor. It had 2,047 square feet and was listed for $1,145,000. The second unit was on the eight floor and had three bedrooms and bathrooms and 2,846 square feet. The asking price was $1,699,000.
  • The final pending sale was a carryover from Optima Camelview. It was a three bedroom, two and one-half bathroom unit on the top floor with 3,354 square feet. It had been for sale for $1,399,000.


DECEMBER  2012 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There were five luxury condo sales in December, four of which were in the pipeline at the end of November. All of the sales took place in Scottsdale. Update 1/8/13: The sale at East Camelback Condominiums did not close. Therefore, there were four luxury condo sales in December.

  • The first sale was at Safari Drive located in downtown Scottsdale. This three bedrooms and bathroom unit with 2,610 square feet had been listed for $1,050,000 and ultimately sold for $935,000.
  • The second condo was at Optima Camelview. The fifth floor condo with three bedrooms and two bathrooms had 1,906 square feet. The list price at the time of contract was $1,035,000 and the final sales price was $989,000.
  • The Landmark condominiums saw a sale in December as well. The fifth-floor unit had been on the market for $1,290,000 and sold for $1,100,000. It had three bedrooms, two and one-half bathrooms and 2,645 square feet.
  • The Scottsdale Waterfront Residences had a sale in December as well. It was a two bedroom, two and one-half bath unit. It had 2,265 square feet and was located on the eighth floor. The list price had been $1,295,000 and the final sales price was $1,100,000.
  • UPDATE 1/8/13: This unit came back onto the market, indicating that the sale did not complete as was reported in the MLS. The final sale in December had been under contract for several months as legal issues were taken care of. This was a foreclosed penthouse at  East Camelback Condominiums with 5 bedrooms and 8 bathrooms. The square footage was 7,254. It sold for the asking price of $1,250,000, plus undisclosed funds from the buyer.

Overall, December was a great month to close out the year on the luxury condo segment in Scottsdale and Phoenix. The five sales during the month meant it was a great sales month, and going into the new year with three pending sales was a nice way to start things off.

Learn More About Phoenix and Scottsdale Luxury Condos
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 1/1/2013 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

Scottsdale AZ Single-Family Home Sales – December 2012

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 -Scottsdale AZ Homes for Sale and Home Sales in December 2012-
Here are the sales figures for the final month of 2012 for Scottsdale Arizona homes. This report covers activity for single-family homes only.

SCOTTSDALE HOME SALE ACTIVITY FOR 2012

Sales activity has been divided into three categories and figures from each of the last 12 months are included:
– Scottsdale homes for sale at the end of December are depicted in red.
– Pending sales at the end of December are depicted in green.
– Actual home sales that took place in December are depicted in purple.

Scottsdale AZ Home Sales Information December 2012

This second graph is broken into two sections. The top part looks at how the figures have changed on a month over month basis.  For example, the number of homes for sale dropped 7.1% between November and December.

The lower part of the chart depicts sales price to list price ratio. This is way of understanding what kind of average discounts buyers received off of asking prices. For November and December, buyers saw an average discount of 4.6%.

Scottsdale Home Sales Monthly Changes Dec 2012
December 2012 Highlights for Scottsdale AZ Homes for Sale:

  • Active Scottsdale Homes for Sale: The number of homes for sale dropped at the end of the month to 1,456, a 7.1% decrease over November. Some of this can be attributed to listings that expired at the end of the year.
  • Pending Homes Sales in Scottsdale: Pending sales saw a large decline to 342, the lowest we have seen all year. However, we do see this dip at the end of each year.
  • Scottsdale Homes Sold: December sales were higher than I had expected. I anticipated coming in the high 300’s, but the final figure was 402. This was a nice way to end the year from a home sales perspective.
  • Sales Price to List Price Ratio: 95.4% – This is where we have been for most of the year.

Overall, the Scottsdale AZ real estate market ended the year with a solid sales month. Inventory dropped a bit after increases for the last several months. However, I anticipate a rebound in January as expired listings and people looking to capitalize on the spring buying season come back into the market.

Pending sales were down sharply, but this is a seasonal factor we tend to see. Home sales were pleasantly solid and we even had the highest sales price home sale of the year in December at $8.2 million. However, based on pending figures, I expect January to be a bit quieter.

Search Scottsdale AZ Homes for Sale

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and home sales in Scottsdale AZ over the last 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

Where to Eat in Scottsdale AZ: Chloe’s Corner

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– Where to Eat in Scottsdale AZ: Chloe’s Corner at Kierland –

Chloes Corner Kierland ScottsdaleI finally had the opportunity to try out Chloe’s Corner at the Kierland Commons shopping center. I had walked by and peeked into the charming space many times on my way to and from shopping, but never took the time to stop in, save for grabbing a quick drink to go. You will usually find Chloe’s bustling with business and patrons enjoying the small outdoor seating area.

Chloe’s serves breakfast and lunch and I was there for breakfast. One of their top items is the 50 cent cup of coffee. The price is the same morning or afternoon and you can get it hot or cold – for 50 cents. That is a great deal and many people were taking advantage of it.

The breakfast menu is very reasonably priced ($7.50 is the most expensive item) and the portions are generous. I sampled the bagel and lox breakfast and really enjoyed it. My companion had the Egg Sandwich that comes on a focaccia roll and it looked great as well. The menu includes a good number of cooked and baked items to suit whatever your breakfast mood may be.

Based on my breakfast experience, I will certainly be back for lunch. Again, prices are very reasonable ($7.75 for the most expensive item) and they serve a long list of sandwiches and salads. They also offer soup daily.

If you are in a hurry, there is a retail section where you can pop in and grab a beverage and some snacks. You can get things like fruit and protein bars in addition to homemade items. There is also a good selection of sweets and treats to choose from.


More Information:
Chloe’s Corner
Kierland Commons
15215 N. Kierland Blvd. #190
Scottsdale, AZ 85254
(480) 998-0202
Chloe’s Corner Website

Hours:
– Monday through Friday 7AM-6PM
– Saturday 8AM-6PM
– Sunday 8AM-4PM

 

 

Holiday Decor Around Scottsdale Arizona

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– Holiday Decor Around Scottsdale Arizona –
Scottsdale is all dressed up and ready for the holidays. Below are some images from various locations around town and how they are celebrating.

  • The top left image is a huge wreath adorning the Scottsdale Quarter signage in North Scottsdale.
  • The top right image is the tree at the Mc Cormick Stillman Railroad Park in Central Scottsdale. The Railroad Park always has some incredible displays to celebrate the holidays. In the evening, jump on the train and experience a wonderland of lights, holiday scenes and characters and scenery. The event goes through January 5th and the first train leaves at 6:30. Make sure to get there early as this is a very popular event!
  • The bottom two images are from Kierland Commons. In the center area, you can look at the lovely tree and menorah as well as visit with Santa. At night, the twinkling lights transform Kierland and really put you in a holiday mood.

Holiday Decor Scottsdale AZ

 

And here comes 2013….

And since we are almost done with 2012, you know another year is almost here when you start seeing the following things start to pop up around town:

  • Over at TPC Scottsdale, scaffolding is starting to go up in anticipation of the Waste Management Phoenix Open, which will kick off in late January. If you have never been, it is definitely worth attending. Plus, you can cap off your wonderful day with a visit to the Birds Nest for some evening entertainment.
  • The Cavalia tent is now up at the intersection of Scottsdale Road and the 101. Shows of the amazing horse performance Odysseo are underway and run through most of January.
  • When you see the big white tents going up, you know the Art Shows are coming soon. Up at MacDonald’s Ranch, the Arizona Fine Art EXPO kicks off on January 10th. And a little further south at Hayden and the 101, is the Celebration of Fine Art, which opens on January 12th.

 

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