The Optima Biltmore luxury condo development is located in Phoenix, Arizona at 24th Street and Camelback.
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Phoenix and Scottsdale AZ Luxury Condo Market Sales- April 2010
Here are the sales figures for April 2010 for the luxury condo market in Scottsdale and Phoenix . For the purposes of this analysis, I am defining the luxury condo market as condos with asking prices in excess of $1 million.
Sales continue to be good for luxury condo sales in Scottsdale and Phoenix. At the end of April there were three pending condo sales and two sales had closed during the month. As of May 1st, there were 73 luxury condos on the market in Scottsdale and Phoenix – 40 of them in Scottsdale and the remaining 33 in Phoenix,
The two April luxury condo sales were evenly split between Scottsdale and Phoenix. The Scottsdale sale took place at the Scottsdale Waterfront Residences and was for a three bedroom, three and one-half bathroom, 2,296 square foot unit. The sale price was $1,100,000 or 92% of asking price. The other sale was at Esplanade Place in Phoenix. This particular unit was a two bedroom, three bathroom, 3,542 square foot condo that sold for $1,175,000 or 81% of list price.
The three pending luxury condo sales at the end of April were all located in Scottsdale. Two of the units were located in the Scottsdale Waterfront Residences community and the third was located at The Landmark, which is in the Kierland area.
Overall, luxury condo sales in Scottsdale and Phoenix had another good month and based on pending sales, May should also be another good month.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2010 and can change at any time. The analysis looks at resale 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. This is the first month that Tempe is not included in this analysis.
Copyright © 2010 Heather Tawes Nelson
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Scottsdale AZ Single-Family Homes For Sale – April 2010
April 2010 continued the strong trend for Scottsdale AZ real estate, coming off an excellent March 2010 home sales month. Inventory has been dropping, pending sales have been hitting new highs and sales were above the 400 mark for the second month in a row.
April 2010 Highlights for Scottsdale AZ Homes for Sale:
- Active Scottsdale Homes for Sale: At the end of April, there were 2,793 homes for sale in Scottsdale. This figure has been decreasing each month since January. This is below the 12 month average of 2,885 homes on the market.
- Pending Scottsdale Home Sales: Pending sales experienced a big jump in April to 661, or 10.2% over March. This is the second time (including March 2010) this figure has exceeded 600 since I started tracking this information in September of 2007. Some of this activity could be attributed to people trying to take advantage of the expiring tax credit. The 12 month average for pending home sales is 536.
- Scottsdale Homes Sold: Homes sales in April were 422. This was down from March’s extremely positive 442 sales, but still a very strong performance. The 12 month average for home sales is 362. Based on the pending home sales figure, we can expect May to post strong sales as well.
April was another big month for Scottsdale AZ homes for sale and home sales activity. Sales were still very strong at 422 and pending home sales are at the highest that I have seen in over two and one-half years. Additionally, the number of homes for sale continues to decrease which Is a positive for the market. Based on April’s pending sales, May looks to be another strong month for Scottsdale home sales.
Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2010 and can change at any time. The analysis looks at single-family resale homes for sale and sales 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.
Copyright © 2010 Heather Tawes Nelson
