Scottsdale AZ Real Estate & Lifestyle

Live Better in Scottsdale - eXp Realty

Blog

Quick Video Update of the Scottsdale Real Estate Market – May 2022

By

– May 2022 Scottsdale Housing Market Video –

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of May.

May 2022 – Video


Scottsdale Active Listings

Scottsdale homes for sale May 2022

Even though we are still suffering from low inventory, we have been seeing an uptick in the number of homes for sale, which is great news for buyers.

Inventory was up a healthy 24% between May 2021 and May 2022. And we also saw a month-over-month increase of 30%. All good news.

Median List Price for Scottsdale Homes

Scottsdale homes median list price May 2022

Now we will take a peek at home prices for homes on the market. The median list price tells you the midpoint price of all currently listed homes. Fifty percent will be priced higher and fifty percent will be priced lower.

The median list price for May was $1.35 million. This is lower than May 2021’s $1.43 million and down quite a bit from April’s $1.55 million.

Days on Market

Scottsdale homes days on market May 2022

Days on market is an indicator of the pace of home sales in a market. You will also see it referenced as DOM. If the DOM is high, homes are staying on the market a little longer. If the DOM is low, homes are selling at a brisker pace.

May’s DOM was 29 days. This is very low and has been since the Scottsdale market got hot. And looking year-over-year, days on market was down by 22%.

Median Sales Price for Scottsdale Homes

Scottsdale homes median sales price May 2022

Similar to the median list price, the median sales price is the midpoint of home prices of homes that sold.

May’s median sales price in Scottsdale was $1.08 million. This is up from the previous year’s $922K, but down slightly from last month’s $1.1 million.

Number of Homes Sold

This first image is comparing year-over-year home sales. Sales were down 22% from the previous year. And although low inventory may be playing a part, we are seeing decreased demand from buyers which could account for this drop.

Scottsdale Home Sales May 2022 versus 2021

This second image is looking at it from a month-over-month perspective. Sales were essentially level with May coming in with one fewer sale than April.

Scottsdale home sales April versus May 2022

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.

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

Sellers Have an Opportunity with Today’s Home Prices

By

Sellers Have an Opportunity with Today's Home Prices | MyKCM

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

Sellers Have an Opportunity as Home Prices Re-Accelerate | MyKCM

This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased competition drove home prices up even more. Selma Hepp, Deputy Chief Economist at CoreLogic, explains:

“Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge.”

And experts say prices are forecast to continue appreciating, just at a more moderate pace moving forward. A recent article from Fortune says:

“. . . the swift move up in mortgage rates . . . doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model . . . still predicts home prices will climb further this year.”

What This Means for You

If you’re thinking about selling your house, you should know you have a great opportunity to list your home and capitalize on today’s home price appreciation. As prices rise, so does the value of your home, which gives your equity a big boost.

When you sell, you can use that equity toward the purchase of your next home. And at today’s record-level of appreciation, that equity may be enough to cover some (if not all) of your down payment.

Bottom Line

History shows rising mortgage rates have not had a negative impact on home prices. Now is still a great time to sell your house thanks to ongoing price appreciation. When you’re ready to find out how much equity you have in your current home and what’s happening with home prices in your local area, let’s connect.

Scottsdale AZ Single Family Home Sales – May 2022

By

– May 2022 Scottsdale Homes for Sale and Home Sales –

Things changed quite a bit on the inventory front in May. We saw a big jump in the number of homes on the market, which is great news for buyers. On top of that, sales activity remained strong.

SCOTTSDALE HOME SALES ACTIVITY – MAY 2022

We track the following four sales metrics on a monthly basis:

– Single-family homes for sale – Orange Line – How many homes were on the market 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 – How many sales were pending at the end of the month.*
– Home Sales – Blue Line – How many homes sold during the month.

MAY 2022 RESULTS

  • Scottsdale Homes for Sale: We saw inventory jump over 34% between April and May. This is after a 23% jump the month before. These additional homes for sale are sorely needed.
  • UCB (Under contract, accepting backup offers): The number of UCBs fell slightly. This was the second to lowest we have seen these in the past year.
  • Pending Homes Sales in Scottsdale: The number of pending sales fell quite a at bit to close out the month at 310.
  • Scottsdale Home Sales: Home sales were down slightly in May, but still posted a strong performance.

Here are two more sales metrics that give a little more information about the state of Scottsdale’s real estate market.

Percent Change Month Over Month – This metric tracks sales performance on a month-over-month basis. For example, pending sales were down 22.3% between the end of April and May.

Sales Price to List Price – This is a quick and easy way to monitor sales prices. Here, we are comparing average asking prices to the average of what those homes sold for. In May, buyers paid a premium of 1.6% over asking, showing that we still have a strong sellers market.

*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 Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 6/1/2022. 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 © 2022 Heather Tawes Nelson | Joyce Tawes

What Does the Rest of the Year Hold for the Housing Market?

By

What Does the Rest of the Year Hold for the Housing Market? | MyKCM

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.

The Number of Homes Available for Sale Is Likely To Grow

There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead.

We have been seeing this in Scottsdale and the Greater Phoenix region. Over the past few months, more and more homes have come onto the market. We are still well below where we would normally be, but this is great news.

 According to Danielle Hale, Chief Economist at realtor.com:

“The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”

  • As a buyer, having more options is welcome news. Just remember, housing supply is still low, so be ready to act fast and put in your best offer up front.
  • As a seller, your house may soon face more competition when other sellers list their homes. But the good news is, if you’re also buying your next home, having more options to choose from should make that move-up process easier.

Mortgage Rates Will Likely Continue To Respond to Inflationary Pressures

Experts also agree inflation should continue to drive up mortgage rates, albeit more moderately. Odeta Kushi, Deputy Chief Economist at First American, says:

“… ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”  

  • As a buyer, work with trusted real estate professionals, including your lender, so you can learn how rising mortgage rate environments impact your purchasing power. It may make sense to buy now before it costs more to do so, if you’re ready.
  • As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to a trusted real estate advisor to decide how to time your move.

Home Prices Are Projected To Continue To Climb

Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market. That said, experts agree the pace of that appreciation should moderate – but home prices won’t fall. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“Prices throughout the country have surged for the better part of two years, including in the first quarter of 2022. . . Given the extremely low inventory, we’re unlikely to see price declines, but appreciation should slow in the coming months.” 

  • As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. But it also gives you peace of mind that, once you do buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.
  • As a seller, price appreciation is great news for the value of your home. Again, lean on a professional to strike the right balance of the best conditions possible for both selling your house and buying your next one.

Bottom Line

Whether you’re a homebuyer or seller, you need to know what’s happening in the housing market, so you can make the most informed decision possible. Let’s connect to discuss your goals and what lies ahead, so you can pick your best time to make a move.

Things to Do in Scottsdale – June 2022

By

– Scottsdale Events June 2022 –

Old Town Scottsdale AZ

June is here and with it comes some new fun events and happenings all over the Valley, and state! Here are some you might want to check out:

  • Old Town Scottsdale June Days – Daily – Experience and celebrate all things Old Town Scottsdale during the month of June. Almost every day, there will be a new event or two to experience – from wine suppers, to art to walking tours and more. Check out the schedule to see what fun awaits.
  • Desert Botanical Garden Events – Select dates in June – The Desert Botanical Garden has lots of things going on this month. On June 7th, experience Chihuly After Dark and delight in the beautiful glasswork at night. Sonoran Sippin is on June 24th and there are lots of family and kid events including camps, Flashlight Nights, Storytime and more. Dog lover? Make sure not to miss one of the Dog Days at the Garden events.
  • Immersive Klimt – Daily – Step inside and be swept away by this fantastic art production featuring the works of Gustav Klimt. The show, accompanied by music, is sure to be mesmerizing.
  • U Pick at Tolmachoff Farms – June 1st through June 30th – Want to pick your own vegetables? Tolmachoff Farms in Glendale is hosting U Pick Produce events on Wednesday, Friday and Saturday mornings throughout June. Take your pick from tomatoes, beets, carrots, corn, peppers, cucumbers, squash and much more.
  • Flagstaff Blues & Brews– June 10th and 11th – Head north a couple of hours to cooler weather and a fun weekend of blues. The Flagstaff Blues and Brews Festival will feature great live music in a beautiful outdoor setting. Enjoy microbrews and wine, food vendors, arts and crafts vendors and more. Plus, there is a kid zone for the little ones.
  • Lyle Lovett and his Large Band – June 16th – Lyle Lovett will be playing for one evening at the Mesa Arts Center. He and his band will play some of his top hits and possibly some you have not heard before.
  • Staycation Around Town – One of the best parts of summer is when local resorts offer some great Staycation deals and packages. Here is a list that Phoenix Magazine put together. There is something for everyone!

As always, this is just a partial list. Feel free to add any others in the comment section!

Scottsdale AZ Luxury Home Market – April 2022

By

– Scottsdale Luxury Home Market Performance for April 2022 –

Luxury homes in April continued to perform well and again we saw buyers paying over list price in almost every price point. The great news for buyers is that we saw a healthy and very needed jump in inventory in April.

In this report, we look at home sales activity of homes with list prices of $1 million or more. And since various price points perform differently, we pulled the results and split them into four price bands.

We look at the following sales metrics on a monthly basis:
Active – The number of homes for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes under contract, but still accepting backup offers at the end of the month.
Pending – The number of pending sales.
Sold – How many homes sold during the month..

– April 2022 –

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

Scottsdale Homes for Sale between $1 and $1.5 million April 2022

– Active Scottsdale Homes on the Market: There was another large jump (35.2%) in the number of homes for sale in April. This is fantastic news for buyers.
– UCB Scottsdale Home Sales: The number of UCBs was up by one at the end of the month.
– Pending Scottsdale Home Sales: Pending sales fell slightly, but were still well ahead of the 12 month average of 60.
– Scottsdale Homes Sold: Home sales clocked in at 118, the third-highest we have seen them in the past twelve months.
– Sales Price to Listed Price: 104.4%- On average, buyers paid a 4.4% premium over list price.

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

Scottsdale Homes for Sale between $1.5 and $2 million April 2022

– Active Scottsdale Homes on the Market: We also saw a healthy 32.4% jump in inventory in this price point. Again, this is great news for buyers.
– UCB Scottsdale Home Sales: UCBs hit their highest level in the past year in April. There were 36 UCBs at the end of the month, coming in 44.4% higher than March.
– Pending Scottsdale Home Sales: Pending sal
– Scottsdale Homes Sold: Sales we
– Sales Price to Listed Price: 105.7% – On average, buyers paid a 5.7% premium over list price.

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

Scottsdale Homes for Sale between $2 and $3 million April 2022

– Active Scottsdale Homes on the Market: Inventory in this price point was up 23.4% over March.
– UCB Scottsdale Home Sales: UCB contracts were the highest we have seen in the past year.
– Pending Scottsdale Home Sales: The number of pending sales fell in April after a gangbuster March performance.
– Scottsdale Homes Sold: Home sales fell as well, coming off of an incredible March. However, sales were the second-highest we have seen them in the past year.
– Sales Price to Listed Price: 100.4% – On average, buyers paid a 0.4% premium over list price.

Scottsdale Homes Priced $3,000,000+

Scottsdale Homes for Sale over $3 million April 2022

– Active Scottsdale Homes on the Market: Inventory reached its highest level in the past year for this price point.
– UCB Scottsdale Home Sales: The number of UCBs fell slightly, but they were tracking well ahead of the 12 month average.
– Pending Scottsdale Home Sales: The number of pending sales fell as well, but remained very high. This was the second-highest we have seen pending in the past year.
– Scottsdale Homes Sold: In April, sales were the highest we have seen in the past year. Very impressive.
– Sales Price to Listed Price: 98.6% – On average, buyers saw a discount of 1.4% off of list price.

If you would like additional detail 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

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2022 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 ©2022 Heather Tawes Nelson | Joyce Tawes

The One Thing Every Homeowner Needs To Know About a Recession

By

The One Thing Every Homeowner Needs To Know About a Recession | MyKCM

A recession does not equal a housing crisis. That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value.

The National Bureau of Economic Research (NBER) defines a recession this way:

“A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.”

To help show that home prices don’t fall every time there’s a recession, take a look at the historical data. There have been six recessions in this country over the past four decades. As the graph below shows, looking at the recessions going all the way back to the 1980s, home prices appreciated four times and depreciated only two times. So, historically, there’s proof that when the economy slows down, it doesn’t mean home values will fall or depreciate.

The One Thing Every Homeowner Needs To Know About a Recession | MyKCM

The first occasion on the graph when home values depreciated was in the early 1990s when home prices dropped by less than 2%. It happened again during the housing crisis in 2008 when home values declined by almost 20%. Most people vividly remember the housing crisis in 2008 and think if we were to fall into a recession that we would repeat what happened then. But this housing market isn’t a bubble that’s about to burst. The fundamentals are very different today than they were in 2008. So, we shouldn’t assume we’re heading down the same path.

Bottom Line

We’re not in a recession in this country, but if one is coming, it doesn’t mean homes will lose value. History proves a recession doesn’t equal a housing crisis.

Phoenix and Scottsdale AZ Luxury Condo Sales – April 2022

By

– Luxury Condo Sales in Scottsdale and Phoenix – April 2022 –

Things picked up again in April for the luxury condo market in Scottsdale and Phoenix. New contracts were up as well as actual sales. Pending sales are the highest we have seen due to several communities that are still under construction.

In this report, we examine the sales activity of luxury condos in our local market. All of these condos had list prices of one million dollars or more. 

ACTIVE LISTINGS AT THE END OF APRIL

The number of units for sale dropped again. April closed out with forty units for sale, which is quite a bit lower than the fifty-four condos for sale at the end of February. 

The highest-priced unit is located in the new development called Ascent at the Phoenician. This unit has three bedrooms, three and one-half bathrooms and is 3,996 square feet. It was listed for $4,850,000.

On the lower-priced side, there were two units listed for $1 million each. The first was a one bedroom and bathroom with 806 square feet in Optima Camelview.

The other unit million dollar unit was in Scottsdale’s Eagle’s Pass and had three bedrooms and bathrooms and 2,386 square feet. 

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

UCB contracts doubled between March and April. At the end of the month, there were 10 UCB contracts. Eight of them were located in Scottsdale.

UCB Condos in Scottsdale

  • Landmark Condominiums – Three units went into UCB status in April. 
    • Three bedrooms and bathrooms, 3,045 square feet. Asking price was $1,600,000.
    • Two bedrooms, three bathrooms, 2,690 square feet. Asking price was $1,699,000.
    • Four bedrooms and bathrooms, 4,065 square feet. Asking price was
      $2,499,000.
  • Optima Camelview
    • Three bedrooms, two bathrooms, 1,710 square feet. Asking price was $1,375,000.
    • Three bedrooms, two bathrooms, 1,727 square feet. Asking price was $1,500,000.
  • Optima Kierland
    • Two bedrooms, two and one-half bathrooms, 1,579 square feet. Asking price was $2,149,000.
    • Two bedrooms, two and one-half bathrooms, 1,980 square feet. Asking price was $2,250,000.
    • Three bedrooms and bathrooms, 2,018 square feet. Asking price was $3,195,000.

UCB Condos in Phoenix

  • Fairway Lodge at the Biltmore – Three bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,500,000.
  • Esplanade Place – Three bedrooms and bathrooms, 3,334 square feet. Asking price was $2,175,000.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Pending sales climbed to forty-two by the end of April. This is the highest we have seen this figure. Forty of them were located in Scottsdale and a vast majority of them were in communities being built including Seven in Desert Mountain, The Reserve and Ascent at the Phoenician.

Scottsdale Pending Luxury Condos

  • Optima Kierland
    • Two bedrooms and bathrooms, 1,657 square feet. Asking price was $1,195,000.
    • Two bedrooms, two and one-half bathrooms, 1,579 square feet. Asking price was $1,750,000.
    • Three bedrooms, two bathrooms, 1,763 square feet. Asking price was $1,770,000.
  • The Reserve – This community is under construction.
    • Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,004,500.
    • Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,011,500.
    • Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,012,450.
    • Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,016,000.
    • Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,026,500.
    • Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,063,000.
    • Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,159,000.
    • Two bedrooms, two and one-half bathrooms, 2,639 square feet. Asking price was $1,271,450.
    • Three bedrooms and three bathrooms, 2,675 square feet. Asking price was $1,279,900.
  • Ascent at the Phoenician – This is another fantastic development underway.
    • One bedroom, one and one-half bathrooms, 1,698 square feet. Asking price was $1,475,000.
    • Two bedrooms, two and one-half bathrooms, 1,847 square feet. Asking price was $1,600,000.
    • Two bedrooms, two and one-half bathrooms, 2,374 square feet. Asking price was $2,050,000.
    • Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,285,000.
    • Two bedrooms, two and one-half bathrooms, 2,679 square feet. Asking price was $2,395,000.
    • 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, three and one-half bathrooms, 3,945 square feet. Asking price was $4,950,000.
  • Seven at Desert Mountain – This community is also under construction.
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,505,002.
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,530,700.
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,536,004.
    • Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,612,768.
    • Two bedrooms, three and one-half bathrooms, 2,702 square feet. Asking price was $1,705,300.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,774,200.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,787,350.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,809,900.
    • Three bedrooms, three and one-half bathrooms, 2,716 square feet. Asking price was $1,835,850.
  • ICON in Silverleaf
    • Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,900,000.
    • Two bedrooms, three bathrooms, 2,752 square feet. Asking price was $2,500,000.
    • 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 $3,175,000.
    • 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.
    • 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, 6,288 square feet. Asking price was $8,350,000.
  • Main Street Place – Three bedrooms, three and one-half bathrooms, 4,122 square feet. Asking price was $2,795,000.

Phoenix Pending Luxury Condos

  • One Lexington – Two bedrooms, two and one-half bathrooms, 2,288 square feet. Asking price was
    $1,295,000.
  • Fairway Lodge at the Biltmore – Three bedrooms, two and one-half bathrooms, 2,376 square feet. Asking price was $1,425,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Sales were up to fourteen in April compared to March’s eleven luxury condo sales. Twelve of the fourteen sales were in Scottsdale.

Scottsdale Luxury Condo Sales

  • Seven at Desert Mountain -Three bedrooms, three and one-half bathrooms, 2,414 square feet. Asking price was $1,515,800 and it closed at list price.
  • Main Street Place  – Two bedrooms, two and one-half bathrooms, 2,537 square feet. Asking price was $1,953,500 and it closed for $1,800,000.
  • Plaza Lofts at Kierland – Two bedrooms and bathrooms, 1,592 square feet. Asking price was $1,395,000 and it closed for $1,275,000.
  • Scottsdale Waterfront Residences
    • Two bedrooms, two and one-half bathrooms and 2,469 square feet. Asking price was
      $2,375,000 and it closed for $2,234,445.
    • Two bedrooms, two and one-half bathrooms and 2,265 square feet. Asking price was
      $2,212,500 and it closed for $2,100,000.
    • Two bedrooms and bathrooms, 1,457 square feet. Asking price was $1,150,000 and it closed for list price.
    • Three bedrooms, three and one-half bathrooms and 2,503 square feet. Asking price was
      $2,462,500 and it closed for $2,450,000.
    • Three bedrooms, three and one-half bathrooms, 2,503 square feet. Asking price was $2,700,000 and it closed for $2,500,000.
  • Optima Camelview
    • Two bedrooms, two bathrooms, 1,463 square feet. Asking price was $1,395,000 and it closed $1,300,000.
    • Two bedrooms, two bathrooms, 1,692 square feet. Asking price was $1,335,000 and it closed for list price.
    • Three bedrooms, two bathrooms, 2,129 square feet. Asking price was $1,299,000 and it sold for $1,255,000.
    • Three bedrooms, two bathrooms, 1,826 square feet. Asking price was $1,199,900 and it sold for $1,160,000.

Phoenix Luxury Condo Sales

  • Portland on the Park – Three bedrooms and bathrooms, 1,941 square feet. Asking price was $1,200,000 and it sold for list price.
  • Portland on the Park – Two bedrooms, two and one-half bathrooms, 2,185 square feet. Asking price was $1,575,000 and it closed for $1,440,000.

 

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

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 5/1/2022 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 ©2022 Heather Tawes Nelson | Joyce Tawes

Malcare WordPress Security