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Scottsdale AZ Luxury Home Market – January 2013

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Luxury Home Scottsdale AZ Silverleaf– Scottsdale AZ Luxury Home Market Performance for January 2013 –

Here is January 2013’s report on the luxury home market in Scottsdale, Arizona. This monthly report shows sales data for Scottsdale homes with asking prices in excess of $1 million. This information has been broken into four price bands to give additional detail on the various price points.

Each of the sections contain the following home sales information:
Active- How many homes were on the market at the end of the month.
Pending – How many homes were pending sale at the end of the month.
Sold – How many homes sold over the course of the month.

– January 2013 –
Scottsdale Homes Priced Between $1,000,000 – $1,499,999
– Active Scottsdale Homes on the Market:  There was a big jump in January for the number of homes on the market in this price point. There were 173 at the end of the year and 213 at the end of January. This is most likely due to people holding off until the new year to put their homes on the market.
– Pending Scottsdale Home Sales: Pending sales rebounded back to levels we would expect.
– Scottsdale Homes Sold: January home sales were low, at 15. This was to be expected coming off such a low pending number in December. Now that pending sales have increased, I expect this number to come up in February.
– Sales Price to Listed Price: 93.0% – This is pretty standard for this price range.

 Scottsdale AZ Homes for Sale between $1 and $1.5 million January 2013


Scottsdale Homes Priced Between $1,500,000 – $1,999,999
– Active Scottsdale Homes on the Market: The number of homes on the market was up a bit in January to 132. This is ahead of the 12 month average of 122.
– Pending Scottsdale Home Sales: Pending sales were up at the end of the month to twelve, which is on par with the 12 month average.
– Scottsdale Homes Sold: Nine homes sold in January, which is pretty solid. This figure is also on track with the 12 month average of nine.
– Sales Price to Listed Price: 90.3% – This is a little lower than we have been seeing recently, but is not too bad.

Scottsdale AZ Homes for Sale between $1.5 and $2 million January 2013


Scottsdale Homes Priced Between $2,000,000 – $2,999,999
– Active Scottsdale Homes on the Market: Inventory was back up to 108 at the end of January, a slight increase. However, this is still below the 12 month average.
– Pending Scottsdale Home Sales: Pending sales rebounded back to where we would expect them. At the end month, five homes were under contract in this price range.
– Scottsdale Homes Sold: Only two homes sold in January. Again, this was to be expected as there was a single pending sale at the end of the prior month.
– Sales Price to Listed Price: 90.8% – This is pretty on par with what we have been seeing for this segment.

Scottsdale AZ Homes for Sale between $2 and $3 million January 2013

Scottsdale Homes Priced $3,000,000+
– Active Scottsdale Homes on the Market:  Inventory was at the highest we have seen for this price point in the last year. It has been on a steady uptick since August of 2012.
– Pending Scottsdale Home Sales: Two homes were pending at the end of January, which is the same as the 12 month average.
– Scottsdale Homes Sold:  There were no home sales in excess of $3 million in January. I think many home buyers in this price point opted to purchase in December, before the end of the year.
– Sales Price to Listed Price: N/A

Scottsdale AZ Homes for Sale Over $3 million January 2013


January 2013 was another mixed month for the luxury home market in Scottsdale. It was not a surprise to see inventory increase as the year got off to its start. Many people held off listing their homes until the new year and the fact that the market is seeing improvements might have motivated other homeowners to put their homes on the market.

We did see pending sales increase in January after falling off in December. However, as a result of fewer pending sales in December, we had a mild sales month in January. We should see sales activity pick up in February.

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 2/1/2013 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 – January 2013

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Kierland Plaza Lofts Scottsdale AZ– Phoenix and Scottsdale AZ Luxury Condo Sales – January 2013 –

The Phoenix and Scottsdale luxury condo market had a positive January 2013. During the month, four luxury condos sold and two units were pending sale at the end of the month. Inventory also dropped, partially as a result of sales and listings that expired.

I am defining the Phoenix and Scottsdale luxury condo market as condos for sale with asking prices in excess of $1 million.

Below is a chart depicting luxury condo sales activity in January for all luxury condos as well as in Scottsdale and Phoenix.

January 2013 Luxury Condos for Sale Scottsdale Phoenix

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of January, two pending sales were in the pipeline. The first one is one that was a carryover from December and the second was a new one.

  • A two bedroom, two and one-half bathroom condo on the seventh floor at Kierland Plaza Lofts is the first pending sale. This 2,047 square foot unit was listed for $1,145,000 when went under contract.
  • The new pending sale was at the Scottsdale Waterfront Residences. This ultra-luxury unit has 3,751 square feet, two bedrooms and four bathrooms. The list price at time of contract was $3,500,000.


JANUARY  2013 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Four luxury condos sold in January and all of the sales took place in Scottsdale.

  • The first sale of the month was at Optima Camelview Village. This top floor until sold for asking price at $1,399,000. It had three bedrooms, two and one-half bathrooms and 3,354 square feet.
  • The second sale was a three bedroom, three bathroom, 2,846 square foot unit on the 8th floor at Kierland Plaza Lofts.The list price was $1,699,000 and it ultimately sold for $1,635,000.
  • The third sale in January occurred at The Mark, in Old Town Scottsdale. This penthouse with three bedrooms, three and one-half bathrooms and 2,122 square feet sold for $950,000. The asking price had been $1,060,000.
  • The final sale of the month was the second most expensive condo sale since the MLS began tracking. This penthouse at the Scottsdale Waterfront Residences sold for $3,600,000, which was $200,000 off the asking price of $3,800,000. In addition to the penthouse and an expansive deck, this unit came with a separate guest suite complete with laundry and a full kitchen.

The luxury condo market in Scottsdale and Phoenix got off to a strong start. All of the activity in January took place in Scottsdale, so hopefully Phoenix will see some action in February. There is now very low inventory for these condos, so we may see constrained sales in February.

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 2/1/2013 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 – January 2013

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-Scottsdale AZ Homes for Sale and Home Sales in January 2013-

Here are the first sales figures for  Scottsdale Arizona single-family homes in 2013.
SCOTTSDALE HOME SALE ACTIVITY FOR JANUARY 2013

There are three sales categories being tracked:
– Scottsdale homes for sale are in red and indicate how many homes were on the market at the end of January.
– Pending sales are in green and show how many sales were pending at the end of January.
–  Completed home sales in January are shown in purple.

January 2013 Highlights for Scottsdale AZ Homes for Sale:

  • Active Scottsdale Homes for Sale: Inventory was back up in January to 1,557. I am attributing a portion of this to the re-listing of homes after they expired at the end of the year. This increased inventory is a good thing, as buyers have been constrained by the low number of homes for sale. The 12 month average for this is 1,443.
  • Pending Homes Sales in Scottsdale: We saw a nice increase in pending sales in January after we saw a seasonal dip in December. They bounced back into the 400’s, to 417.
  • Scottsdale Homes Sold: As anticipated due to the low pending number in December, sales in January were slow at 331. This figure should increase over the next few months as we head into the Spring selling season.
  • Sales Price to List Price Ratio: 95.9% – This is the second highest we have seen in the last 12 months. This figure has been trending in the 95’s%.

Scottsdale AZ Homes for Sale January 2013

 

The top section of this next chart examines how the figures have changed on a month over month basis. So, as you can see, inventory was up 6.9% over January and pending sales saw a nice 21.9% jump as well.

The bottom section of the chart shows sales price to list price ratio. I alluded to this above and it is a quick way to see what kind of average discounts buyers received off of asking prices. In January, buyers received 4.1% off of list price on average.

Scottsdale AZ Home Sales Rates January 2013
Overall, January was a quiet month for home sales in Scottsdale, Arizona. Lower pending sales in December translated into lower sales in January. However, we did see a nice uptick in pending sales and the increase in inventory is a positive thing for buyers. As long as additional inventory comes onto the market, I anticipate things picking up over the next few months as we head into Spring.

Search Scottsdale AZ Homes for Sale

 

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 2/1/2013 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

Desert Mountain Scottsdale AZ – 2012 Real Estate Report

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Desert Mountain golf community Scottsdale AZIn North Scottsdale, you will find the elegant golf community of Desert Mountain. Desert Mountain is spread over 7,000 acres and is a golfer’s paradise. There are six Jack Nicklaus golf courses, each with its own clubhouse. In addition to golf, there is a large tennis complex with three court surfaces, a pool complex, fitness center and spa, miles of trails for hiking or walking and so much more. There is a vibrant social calendar and events go on year-round. Desert Mountain offers both golf and social memberships.

DESERT MOUNTAIN HOMES FOR SALE AND PENDING SALES AS OF  JANUARY 30, 2013
As of today, there are 177 homes for sale in Desert Mountain. Prices range from $550,000 for a 2,045 square foot home up to $8,888,000 for a 12,500 square foot estate.

There are also nine home sales pending currently. The asking prices range from $625,000 to $2,895,000.

Desert Mountain Scottsdale Pending Home Sales 2013

2012 DESERT MOUNTAIN HOME SALES

Here is a quarterly recap of home sales in Desert Mountain in 2012.

Desert Mountain saw its highest sales activity in Q2 and Q3, particularly in Q2 which accounted for 38% of all sales in 2012.

We saw the average sales price increase over the course of the year and we also saw the average cost per square foot increase.

Days on market are high across the board as higher priced homes in Scottsdale tend to spend a much longer time on the market before selling.

The most expensive sale of the year was for $6,542,500. This home is located in the Saguaro Forest section of Desert Mountain and enjoys incredible views from its high elevation. The home had five bedrooms, five and one-half bathrooms and 6,033 square feet. The home had been listed for $6,999,500 and the buyer was a cash buyer.

The least expensive sale in 2012 was the short sale of a Sonoran Cottage. This two bedroom, two and one-half bathroom, 1,836 home sold for $380,000. It had been listed for $450,000 and sold for cash.

Desert Mountain Scottsdale Home Sales 2012

Search Desert Mountain Scottsdale Homes for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/30/2013 and can change at any time. The analysis looks at residential home sales activity in Desert Mountain in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Zip Code 85255 Home Sales By Type Q4 2012 – Includes Foreclosures & Short Sales

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Pinnacle Peak Scottsdale AZ 85255-2012 Scottsdale Zip Code 85255 Home Sales By Type-

Here is the year-end information for Scottsdale Arizona zip code 85255. This report looks at home sales activity for 2012 and breaks it into sales type.

85255 is one of Scottsdale’s most vibrant zip codes. It is located in the northern part of  the city and is home to many of the top golf communities as well as many great restaurants and shopping areas. Some of the luxury golf communities include Troon Country Club, Desert Highlands, Grayhawk, DC Ranch and Silverleaf. There are ample outdoor activities as well. One of the most well-known ones is hiking Pinnacle Peak.

Real Estate Sales Types
The sales data for 85255 has been broken into three sales type categories. They are defined as:

  • Non-Distressed Sales: These are “traditional” or “regular” home sales that you are familiar with.
  • Short Sales: A short sale occurs when a seller will be selling the home for less than is what owed on it. A third party, who holds the lien on the home, will need to grant approval for the sale to take place. A short sale is considered a distress sale.
  • Foreclosures: You may hear these called “Lender-Owned” homes, “REO'” homes or “Bank-Owned” homes. These homes have been through the foreclosure process and they no longer belong to the homeowner.

 Overall Findings for the Scottsdale Zip Code 85255 Home Sales Market for Q4 2012 – Data as of January 1, 2013

  • Active Scottsdale 85255 Homes For Sale: The majority of homes for sale at the end of Q4 were regular sales. They accounted for 95% of the market. The small remainder was split by short sales (3%) and foreclosures (2%.)
  • 85255 Pending Homes for Sale: Although they were only 3% of the active market, short sales jumped to 26% of the pending sales at the end of Q4. Due to this, regular pending sales dropped to 72%. Foreclosures were low at 3%.
  • Q4 2012 Scottsdale 85255 Home Sales: In Q4, 78% of sales were regular sales and short sales came out at 20%.
  • 85255 Home Prices: Normally, we see regular sales as having the highest average sales price and foreclosures having the lowest sales price. But in Q4, 85255 had the highest average sales price with foreclosures.
  • Cumulative Days on Market: The average days on market came out as we would expect, with regular sales having the shortest time on market, then foreclosures, then short sales.
  • Discounts Off of List Price: Regular and short sales’ average discount off of asking are where they have been trending.  For foreclosures, we usually see around a 2-4% discount. But in Q4, we saw an average discount off of list price of 13%. This was due to the fact that there was a large price discount on one of the foreclosures and only 6 foreclosures sold in Q4.
    Q4 2012 Sales in Scottsdale 85255

 

Scottsdale Zip Code 85255 – 2012 Data on Homes Sold

Here is the same information for the entire 2012 for 85255. Regular sales and lender owned sales had similar average sales prices, but you can really see the difference when you look at average price per square foot.

Buyers saw the largest average discount off of list price (7%) with regular sales and saw less of an average discount (4%) with short sales and foreclosures.

2012 Home Sales Data for Scottsdale Zip Code 85255

Scottsdale Zip Code 85255 – Sales Data By Quarter for 2012

This last chart is a snapshot of sales activity by quarter and by sales type in 2012.

Over the course of the year, regular sales went from 67% of the market in Q1 to 78% in Q4. Short sales had more of an impact in Q1 and Q4 with 20% of sales and foreclosures really dropped off over the course of the year. They started with 13% of sales in Q1 and finished at 2% of sales in Q4.

2012 Home Sales in Scottsdale Zip 85255

 

If you would like to review this data for the City of Scottsdale AZ versus a single zip code, please visit these previous reports:

View Scottsdale Home Sales by Type for 2011
View Scottsdale Home Sales by Type for 2010
View Scottsdale Home Sales by Type for 2009

Search Homes for Sale in 85255

 

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were 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 sales in Scottsdale AZ zip code 85255 for Q4 2012 and for the year of 2012. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson

Scottsdale AZ 2012 Home Sales By Type – Includes Foreclosures & Short Sales

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Home for Sale in Scottsdale AZ -Scottsdale AZ 2012 Home Sales By Type – Includes Foreclosure & Short Sale Data-

Here is a wrap up of Scottsdale AZ home sales activity for Q4 2012 as well as summary data for the entire year.

This report breaks the data into three categories based on the type of sale. They are defined below:

– Non-Distressed Sales – These are what you think of when you think of “regular” or “normal” home sales. The buyer and seller agree to price and terms and the home changes ownership at closing.
– Short Sales – Short sales are when a seller needs to sell a home for less than what is owed on it. In order for the sale to complete, third party approval from the lienholder(s) needs to be obtained. This is one of the two “distressed” sales categories.
– Foreclosures – Homes noted as foreclosures have reverted back to the lender and the buyer is now out of the picture. Other names for these are “Lender-Owned” homes, “REO”  homes and/or “Bank-Owned” homes. This is the second “distressed” sale category.

Overall Findings for the Q4 2012 Scottsdale Single-Family Home Market – Data As of January 1, 2013

  • Scottsdale Homes for Sale: At the end of the year, almost the entire inventory of homes for sale in Scottsdale (94%) was regular home sales. The last 7% was split almost evenly by short sales and foreclosures.
  • Scottsdale Pending Home Sales: Distressed sales took up a larger percentage of the pending sales inventory at the end of the year. Short sales accounted for 28%.
  • Q4 2012 Scottsdale Home Sales: Three quarters of sales in Q4 were normal sales. However, short sales still held strong with 20% of sales. Foreclosures had a small impact at 6%.
  • Home Prices: Regular home sale had the highest average sales price and price per square foot, as we would anticipate. What is interesting is that short sales had the lowest average sales price and price per square foot. Typically, that would be foreclosures, but in 2012, we saw this ‘flip’ happen a several times.
  • Days on Market: Days on market reduced over the course of 2012. Regular sales had the shortest time on the market, then foreclosures. As we would expect, short sales had the longest time.
  • Discounts Off of List Price: On average, buyers of normal home sales saw a discount of about 5% off of asking, whereas short sales only saw about 2% off of asking.  What is surprising is the 6% off for foreclosures, as it tends to run at about 2%. I believe this figure was impacted by a luxury foreclosure that sold for a significant amount off of asking.

Q4 2012 Scottsdale AZ Home Sales

Scottsdale AZ Home Sales Q1 through Q4 2012
Here is a snapshot of quarterly activity for Scottsdale home sales. In 2012, 73% of all home sales were regular sales. Short sales made up 18% of the sales and foreclosures came in with the lowest number at 9%.

Over the course of the year, regular sales increased to stay at about 75% of the sales. Short sales stayed in the 20% range. Foreclosures dropped over the course of the year, from 14% in Q1 to 6% in Q4.

2012 Scottsdale AZ Home Sales Regular Short Sale Foreclosure

 

Scottsdale AZ Home Sales 2012
Here is another look at 2012 home sales. Here, you can see things like average sales price by category and average cost per square foot.

Historically, we have seen the highest average sales prices and price per square foot with regular sales, which is then followed next by short sales and then foreclosures. However, in 2012, the short sale and foreclosure categories flipped and short sales came in with the lowest average sales price and price per square foot.

2012 Home Sales Scottsdale by Sales Type

 

If you are interested, you can review previous reports for Scottsdale home sales:
View Scottsdale Home Sales by Type for Q3 2012
View Scottsdale Home Sales by Type for Q2 2012
View Scottsdale Home Sales by Type for Q1 2012
View Scottsdale Home Sales by Type for 2011

 

Disclaimer: Due to rounding issues, not all columns will add up to a perfect 100%.  Data and information were 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 sales in Scottsdale AZ on a quarterly basis. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed.  This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson

The Mirabel Club of Scottsdale AZ: 2012 Real Estate Report

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Mirabel Club Scottsdale AZ 85262

-The Mirabel Club of Scottsdale AZ: 2012 Home Sales Report-

Here is a look back at the 2012 home sales activity at The Mirabel Club located in North Scottsdale, Arizona. In addition to the 2012 home sales figures, I have also included statistics on current homes for sale and pending home sales.

Below is a quarter by quarter snapshot of home sales  in 2012. As you can see, sales were pretty steady over the course of the year. This is interesting, as Scottsdale for the most part experienced a “hot” sales season in the first and second quarters with a slow third quarter and improved fourth quarter.

In addition to a level sales pace, the average price per square foot leveled off for the last three quarters of the year in the $340 range.

Mirabel Club Scottsdale AZ 2012 Home Sales

MIRABEL CLUB HOMES FOR SALE AND PENDING SALES – JANUARY 2013

This next chart looks at homes currently on the market as of January 18th, as well as pending home sales. As you can see, there is not much inventory available right now in Mirabel. There are only 13 homes for sale, which means sales figures for Mirabel maybe held back in early 2013 due to low inventory.

Mirabel Club real estate for sale

ABOUT MIRABEL CLUB SCOTTSDALE:
The Mirabel Club is a private golf community located in the Scottsdale zip code of 85262. The 713 acre community features hilly terrain and is located at a higher altitude, which can equate to slightly lower temperatures during the warmer months. There are a variety of homes and homesites available, including golf lots or lots with expansive valley and mountain views. Designs range from lock and leave homes in a central location near the clubhouse to large custom estates.

The warm clubhouse is inspired by Frank Lloyd Wright and features a restaurant, pro shop, concierge, locker rooms, workout facility and spa. The large pool complex is located adjacent to the clubhouse and the tennis courts are just a quick walk from there. You do not have to join the private club to live in Mirabel, but many residents do so because they love the lifestyle and the wonderful people they meet.

Learn more about the Mirabel Club Scottsdale

Search Mirabel Club Homes in Scottsdale AZ

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/18/2013 and can change at any time. The analysis looks at residential home sales activity in Mirabel Club in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

 

 

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

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