Scottsdale Real Estate Market

Phoenix and Scottsdale AZ Luxury Condo Sales – December 2019

January 21, 2020 By Heather Tawes Nelson

– Luxury Condo Sales in Scottsdale and Phoenix – December 2019 –

The luxury condo market in Scottsdale and Phoenix closed out the year with an impressive sales month. Eight luxury condo sales took place and another ten were under contract.

In this report, we are looking at the sales activity of luxury condos in Scottsdale and Phoenix. All of these units are priced at $1 million or more.

ACTIVE LISTINGS AT THE END OF DECEMBER

December closed out with sixty luxury condos for sale. Forty-two were in Scottsdale and the remaining eighteen were in Phoenix.

The most expensive luxury condo for sale came onto the market in December with an asking price of $5 million. It is a 4,493 square foot penthouse in the Scottsdale Waterfront Residences. It has four bedrooms, four and one-half bathrooms and a 640 square foot guest suite located on the ground floor.
The least expensive luxury condo for sale was in Optima Camelview. It has three bedrooms, two and one-half bathrooms and 2,400 square feet. It was listed for $1,025,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of the year, there was a single condo in UCB status.

Seven at Desert Mountain – Three bedrooms and three and one-half bathrooms and 2,716 square feet. Listed for $1,775,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Nine luxury condos were in pending status at the end of December. The majority of them, seven, were located in Scottsdale with the other two being located in Phoenix.

Scottsdale Pending Luxury Condos

Many of these condos were carryovers from the end of November. Both Optima Kierland and ICON are under development, so sometimes it takes a bit for these units to close.

Four of the seven pending sales were located in the new Optima Kierland community.
- Two bedrooms and two and one-half bathrooms with 1,956 square feet. It was listed for $1,750,000.
- Three bedrooms and bathrooms with 2,704 square feet. It was on the market for $1,816,000.
- Three bedrooms and bathrooms with 2,018 square feet. It was on the market for $1,939,000.
- Three bedrooms and bathrooms with 2,704 square feet. It was listed for $2,080,000.
ICON at Silverleaf had a single pending sale. It had three bedrooms, three and one-half bathrooms and 3,173 square feet. Its asking price was $2,055,000.
Optima Camelview had a pending contract with a three bedroom, four and one-half bathroom unit with 2,400 square feet. It was listed for $1,249,900.
The final pending sale was in SOHO Scottsdale. This penthouse in the live-work community had three bedrooms, three and one-half bathrooms and 3,520 square feet. It was listed for $1,425,000.

Phoenix Pending Luxury Condos

Two Biltmore Estates closed the month with a pending sale. This unit had three bedrooms, two and one-half bathrooms and 2,329 square feet. It was listed for $1,199,000.
Fairway Lodge at The Biltmore also had a pending sale. It had three bedrooms, three and one-half bathrooms and 4,877 square feet. Listed for $2,399,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

Eight luxury condos sold in December.

Scottsdale Luxury Condo Sales

Optima Kierland – Two bedrooms and bathrooms and 1,465 square feet. It had been listed for $1,098,000 and closed at $1,037,000.
Optima Kierland – Two bedrooms, two and one-half bathrooms and 2,232 square feet. It had been listed for $1,649,000 and closed at $1,583,000.
Main Street Place – Two bedrooms, two and one-half bathrooms and 2,472 square feet. It was on the market for $1,175,000 and closed at $1,125,000.
ICON at Silverleaf – Two bedrooms, two and one-half bathrooms and 2,760 square feet. It was listed for $1,764,000 and sold for $1,700,000.
Mark Condominiums – Three bedrooms, three and one-half bathrooms and 4,122 square feet. It was listed for $1,795,000 and sold for $1,500,000.

Phoenix Luxury Condo Sales

The Residences at 2211 Camelback – It had three bedrooms, three bathrooms and 3,000 square feet. It was listed for $1,275,000 and sold for $1,150,000.
The Residences at 2211 Camelback – It had three bedrooms, three bathrooms and 3,100 square feet. It was listed for $1,299,000 and sold for $1,270,000.
Esplanade Place – It had three bedrooms, three bathrooms and 2,978 square feet. It was on the market for $1,325,000 and sold for $1,285,000.

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 1/1/2020 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 © 2020 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – December 2019

January 14, 2020 By Heather Tawes Nelson

– December 2019 Scottsdale Housing Market Video –

December 2019 – Video

Here is a one-minute video overview of the Scottsdale, Arizona real estate market for the month of December.

Scottsdale Active Listings

Although the video says inventory was level, it actually decreased by 8.2% compared to the end of November.

Median List Price for Scottsdale Homes

The median list price measures the exact midpoint price of all of the homes on the market. Therefore, half of the homes have higher prices and the other half have lower prices.

In December, the median list price was $1,200,000. This is way up from December 2018’s $875,000 and slightly up from November 2019’s $1,100,000.

Days on Market

Days on Market is a quick measure of the temperature of a market. (You will also see it referred to as DOM.) Higher days on market means it is taking homes longer to sell and a lower days on market means homes are selling more quickly.

In December, the DOM was 84 days. This is the same as November 2019 and slighly lower than December 2018’s 87 days on market.

Median Sales Price for Scottsdale Homes

Now we will look at the median sales price of homes in Scottsdale for the month of December.

The median sales price in December was $618,000. This is above December 2018’s $600,000 but came in lower than November 2019’s $630,000.

Number of Homes Sold

This final section relates to home sales. As you can see, sales activity in December was impressive.

Sales came in 34% higher than last December!

And sales jumped 24% between the end of November and the end of December. It was a nice way to conclude the year in Scottsdale real estate.

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.

2020 Outlook: Real Estate Market Forecast

January 12, 2020 By Heather Tawes Nelson

A Look Ahead Into Real Estate 2020

We’re in the midst of the longest economic expansion in U.S. history, and economists think there’s still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.¹

Still, given that recessions are a natural (and necessary) part of a business cycle, we know this period of growth will inevitably end. So you may be wondering … how will an eventual recession impact the real estate market?

Many Americans assume a recession would lead to a decline in housing prices like we saw during the Great Recession of 2008. But the real estate market crash we experienced wasn’t typical. In fact, the last recession wasn’t typical at all. It was the worst economic downturn since the Great Depression of the 1930s.

ATTOM Data Solutions analyzed real estate prices during the last five recessions and found that, in the majority of cases, home prices actually went up. Only twice (in 1990 and 2008) did prices decline, and in 1990 it was by less than one percent.²

So what can historical precedent—combined with today’s data—tell us about the future of real estate? Here’s where experts predict the housing market is headed in 2020 and beyond.

HOME PRICES WILL KEEP RISING

Economists predict U.S. housing prices will continue to rise, regardless of a recession. In fact, property data firm CoreLogic forecasts a faster rate of growth for home prices in 2020 than we saw in 2019, with the biggest gains at the lower end of the market.³

Arch MI Chief Economist Ralph DeFranco expects entry-level home prices to increase faster than incomes this year, making it even more difficult for many first-time buyers to afford to enter the market.⁴

“Low interest rates and a shortage of starter homes will continue to push up prices,” predicts DeFranco. “This is especially the case for lower price points, since builders have tended to focus on more expensive, higher-profit houses and less on replenishing low inventories of entry-level homes.”⁴

“Real estate is on firm ground with little chance of price declines,” said National Association of Realtors Chief Economist Lawrence Yun. “However, in order for the market to be healthier, more supply is needed to assure home prices as well as rents do not consistently outgrow income gains.”⁵

What does it mean for you? If you have the ability and desire to buy a home now, don’t let a fear of recession or falling prices hold you in limbo. Economists expect home values, as well as rent prices, to continue rising. So you’ll likely pay more the longer you wait.

INVENTORY CONSTRAINTS WILL CONTINUE

According to Redfin, Americans are staying in their homes longer. In 2019, the average homeowner had resided in their home for 13 years, up from just eight years in 2010. That means there are fewer homes available today for those who want to buy.⁶

It’s possible that an increase in new construction could offer some relief. The National Association of Realtors (NAR) expects single-family housing starts to total one million this year, the highest level since 2007. And NAR Chief Economist Lawrence Yun predicts the average price of new construction will decline slightly as builders shift to building smaller, more affordable homes.⁷

However, these efforts may not be enough to meet current demand. “Despite improvements to new construction and short waves of sellers, next year will once again fail to bring a solution to the inventory shortage,” predicts Realtor.com Senior Economist George Ratiu. “In 2020, we expect inventory to struggle to grow and could instead reach a historic low level.”⁸

What does it mean for you? If you’re looking to buy a starter home, be prepared to compete for the best listings. Start your search early, and if you’re up against a deadline (like a new baby), build in plenty of time to find the right home. Homes in the lower price points in Scottsdale and the Phoenix metro tend to sell quickly and there is a lot of competition. We can help you assess your options, including new construction and up-and-coming developments.

MORTGAGE RATES WILL REMAIN LOW

Mortgage rates have declined more than a full percentage point since November 2018, when they hit a recent peak of 4.94%.⁹The Mortgage Bankers Association predicts rates will remain low, at around 3.7%, through mid-2021.¹⁰

While it may not seem significant, on a $200,000 30-year fixed-rate mortgage, that lower rate means buyers could save around $145 on their monthly payment and more than $52,000 over the life of their mortgage. Lower mortgage rates make homeownership more accessible and affordable for buyers.

Although economists expect mortgage rates to stay low, they caution against waiting to act. Economic factors, shifts in supply and demand, or unforeseen impacts of the November election could cause rates to rise unexpectedly. “We recommend borrowers with long-term plans of staying in their homes to lock in a low rate now because there’s no telling how long these low rates will last,” warns Preetam Purohit, a capital markets trader at Embrace Home Loans.¹¹

What does it mean for you? If you’re looking to buy a home, act soon to lock in a historically low mortgage rate. It will minimize your monthly payment and could save you a bundle over the long term. And if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today’s lower rates.

MILLENNIALS WILL DRIVE THE MARKET

Millennials are expected to account for more than half of all mortgages this year, outnumbering Generation X and Baby Boomers combined. It’s not surprising, considering their age and stage of life. In 2020, the largest cohort of millennials will turn 30, and the oldest millennials will turn 39.⁸

“Family changes tend to drive home-buying decisions,” explains Realtor.com Chief Economist Danielle Hale. “Millennials are going to be active in the housing market not just because they’re just at the age when they’re thinking about becoming first-time home buyers, but they’re also in the age range when they’re having kids.”¹²

Younger millennials flocked to urban centers that offered easy access to work, shopping, and restaurants. But high prices, lack of square footage, and subpar schools are driving millennials out to the suburbs as they begin to marry and expand their families.

In response, a new model for suburban living has emerged. “Hipsturbias,” or mixed-use communities that bring the live/work/play concept to the suburbs, were recently named one of the top real estate trends for 2020 by the Urban Land Institute.⁴

What does it mean for you? If you’re a millennial who has been priced out of urban living or is looking for more space for your growing family, a number of suburbs in our area have a lot to offer. We can point you towards the communities that will best meet your needs. And if you’re a homeowner with plans to sell, give us a call. We know how to market your home to millennials … and can help you sell quickly for top dollar by appealing to this leading market segment!

WE’RE HERE TO GUIDE YOU

While national real estate numbers can provide a “big picture” outlook, real estate is local. As local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and home values in your particular neighborhood.

If you’re considering buying or selling a home in 2020, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.

START PREPARING TODAY

If you plan to BUY this year:

Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.

Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.
Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

If you plan to SELL this year:

Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it will also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property, and it will help us price your home correctly once you’re ready to list.

Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.
Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage … and get you one step closer to moving when the time comes!

Sources:

NBC News –
https://www.nbcnews.com/business/economy/what-impending-recession-new-survey-shows-most-people-think-they-n1098511
Curbed –
https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates
HousingWire –
https://www.housingwire.com/articles/corelogic-expects-home-prices-to-do-this-in-the-next-12-months/
Forbes –
https://www.forbes.com/sites/alyyale/2019/11/15/2020-housing-outlook-expert-predictions-for-mortgage-rates-home-prices-tech-and-more/#343ea4522935
National Association of Realtors –
https://www.nar.realtor/newsroom/expect-continued-economic-growth-slower-real-estate-price-gains-and-small-chance-for-recession-in
Redfin –
https://www.redfin.com/blog/homeowners-staying-in-their-homes-longer/
HousingWire –
https://www.housingwire.com/articles/builders-are-coming-to-the-housing-markets-rescue/
com –
https://www.realtor.com/research/2020-national-housing-forecast/
YCharts –
https://ycharts.com/indicators/30_year_mortgage_rate
MBA Mortgage Market Forecast November 2019 –
https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary
Dallas Morning News –
https://www.dallasnews.com/sponsored/real-estate/2019/11/23/experts-predict-where-mortgage-interest-rates-land-in-2020/
com –
https://www.realtor.com/news/trends/biggest-changes-coming-in-2020-real-estate-and-tips-for-buyers-and-sellers/

Scottsdale AZ Single Family Home Sales – December 2019

January 8, 2020 By Heather Tawes Nelson

– December 2019 Scottsdale Homes for Sale and Home Sales –

December was a gangbuster month in terms of home sales, coming in way ahead of November and December 2018. However, as expected, pendings and UCB contracts fell as people enjoyed the holidays and did not shop for homes.

SCOTTSDALE HOME SALES ACTIVITY – DECEMBER 2019

Each month, we look at and track these four items:

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

DECEMBER 2019 RESULTS

Scottsdale Homes for Sale: The number of homes on the market fell in December due to fewer people putting their homes on the market and a large number of home listings expired on December 31st.
UCB (Under contract, accepting backup offers): UCB contracts fell sharply. As referenced above, this makes sense as there were fewer buyers in the market during the holidays.
Pending Homes Sales in Scottsdale: Like UCBs, pending sales were also affected by the holiday season. Pendings were down 29% compared to the end of November.
Scottsdale Home Sales: The very bright spot in December was actual home sales. December closed out with 464 sales, which is more like we would see at the beginning of the high season.

Here are two more metrics we track on a monthly basis – Percent Change and Sales Price to List Price.

In the Percent Change Month Over Month metric, we compare each of the four sales statuses’ performance with the prior month’s performance. For example, home sales were up 25.4% between the end of November and December.

In the Sales Price to List Price, we study the prices homes sold for relative to what they were listed for. In December, this figure was 96.4%, so buyers on average saved 3.6% 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.

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.

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

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2020. 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 © 2020 Heather Tawes Nelson | Joyce Tawes

What To Negotiate When Buying a House

January 5, 2020 By Heather Tawes Nelson

Whether you are a first-time homebuyer or a seasoned veteran, the negotiation part of the transaction can be a little daunting and stressful. In the end, you want to get the best possible deal for your money. So, what kind of things can you negotiate when buying a home?

Closing costs

Your closing costs are determined by a variety of factors, but you can expect them to be between 2% to 5% of the purchase price. (Once you have decided to make an offer, we have some great tools that can give you a better idea of actual closing costs.)

You have the option to ask the seller to cover some or all of the closing costs upfront or request a closing credit that can be used to make specific updates and fixes to the home.

Furnishings

Do you love how the seller has furnished and decorated the home? Buyers often negotiate keeping couches, fixtures, landscaping items, patio furniture, appliances and more. And many sellers agree, wanting to make the home more appealing.

In Arizona, we see this quite often as many of the homes and condos purchased and sold are second homes. By going this route, the seller does not have to move anything out and the buyer has a furnished home to move into. It is a win-win for both the buyer and the seller!

Inspection and Close Date

Buyer offers that include a quick inspection and close timeline are often more attractive to sellers who have been going through the process for far too long. Just ensure you allow yourself ample time to get your financing in place and complete proper, thorough inspections.

On the other hand, some sellers want to stay put for a while and would prefer a later sale date. If this works for you, your flexibility could make your offer stand out.

Home Warranty

Sellers will often agree to pay the premium on the home warranty at closing and then hand it off to the new homeowner, who is responsible for the deductible on any future claims.

In Arizona, the home warranty option is included in the contract and we strongly suggest getting one to cover your home, regardless of who ends up paying for it. (Having a home warranty has personally saved us thousands of dollars!)

Repairs

Your inspections may uncover small or large repairs needed to bring the home up to standard. You can negotiate to have these items fixed before closing or ask for a price reduction to cover the costs.

In Arizona, we use a form called the BINSR (Buyers Inspection Notice and Sellers Response Form) for this exact purpose. This document gives buyers the opportunity to ask sellers to repair items that surfaced during the inspection period.

Want more negotiation tips? We are happy to help. Simply contact us!

Scottsdale AZ Luxury Home Market – November 2019

December 26, 2019 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for November 2019 –

November was an impressive month for sales in the luxury market. Instead of tapering off, we saw sales surge ahead in most of the price points.

This report covers sales activity for homes with list prices of $1 million or more. To show additional detail, the sales data has been broken into four different price ranges.

We track each of the following items on a monthly basis:
Active – The number of homes on the market 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 at the end of the month.
Sold – How many homes sold.

– NOVEMBER 2019 –

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

– Active Scottsdale Homes on the Market: The number of homes for sale in this price point was pretty level between October and November.
– UCB Scottsdale Home Sales: UCBs were down at the end of November after seeing a huge spike in October.
– Pending Scottsdale Home Sales: Pending sales were up an impressive 54.2%.
– Scottsdale Homes Sold: Sales also saw a huge jump, coming in 39.4% more than October.
– Sales Price to Listed Price: 96.3% – On average buyers saw a discount off of list price of 3.7%.

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

– Active Scottsdale Homes on the Market: Inventory was up slightly at the end of the month, but still below the 12 month average.
– UCB Scottsdale Home Sales: UCB contracts were up to the second highest level we have seen this year and up over 26% compared to the previous month.
– Pending Scottsdale Home Sales: Pending sales were down slightly, but came in on par with the 12 month average.
– Scottsdale Homes Sold: An impressive nineteen homes sold in this price range in November.
– Sales Price to Listed Price: 94.6% – On average, buyers saw a discount off of list price of 5.4%.

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

– Active Scottsdale Homes on the Market: The number of homes for sale was up 5.6% compared to the end of October.
– UCB Scottsdale Home Sales: The number of UCB homes fell to eight.
– Pending Scottsdale Home Sales: Pending sales saw some good momentum, closing out the month at thirteen.
– Scottsdale Homes Sold: Home sales in this price point hit the highest levels we have seen in the past year with nineteen sales.
– Sales Price to Listed Price: 93.7% – On average, buyers saw a discount off of list price of 6.3%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was up slightly over November.
– UCB Scottsdale Home Sales: UCB contracts stayed level for the third month in a row.
– Pending Scottsdale Home Sales: Pending sales were up by two, coming in ahead of the 12 month average.
– Scottsdale Homes Sold: Six homes sold in November, which is good to see in this typically slower time of year.
– Sales Price to Listed Price: 95.1% – On average, buyers saw a discount off of list price of 4.9%.

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 12/1/2019 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 ©2019 Heather Tawes Nelson | Joyce Tawes

Phoenix and Scottsdale AZ Luxury Condo Sales – November 2019

December 18, 2019 By Heather Tawes Nelson

– Luxury Condo Sales in Scottsdale and Phoenix – November 2019 –

Although actual sales of luxury condos in Scottsdale and Phoenix were not huge, the number of these condos that went under contract (UCB and Pending) recently is impressive during this traditionally slower time of year.

This report looks at the sales activity of condos with asking prices of $1 million or more.

ACTIVE LISTINGS AT THE END OF NOVEMBER

We ended the month with 55 luxury condos for sale in Scottsdale and Phoenix, up a little bit from the end of October. The majority of them, thirty-eight, were located in Scottsdale and the rest, seventeen, were in Phoenix.

The highest priced luxury condo for sale has been on the market for a while now. It is a very special, double-sized penthouse at The Residences at 2211 Camelback,. It comes with five bedrooms, five and one-half bathrooms, views in all directions and 4,586 square feet. It was listed for $2,995,000.
The least expensive luxury condo is also a carryover from the past few months. It is located in Optima Kierland and has two bedrooms and bathrooms and 1,663 square feet. It was listed for $1,019,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

At the end of October, six luxury condos were in UCB status and all of them were located in Scottsdale.

Optima Kierland – Two bedrooms and bathrooms and 1,465 square feet. Listed for $1,098,000.
Main Street Place – Two bedrooms and two and one-half bathrooms and 2,472 square feet. Listed for $1,175,000.
ICON at Silverleaf – Two bedrooms and two and one-half bathrooms and 2,760 square feet. Listed for $1,764,000.
Seven at Desert Mountain – Three bedrooms and three and one-half bathrooms and 2,716 square feet. Listed for $1,775,000.
Mark Condominiums – Three bedrooms and three and one-half bathrooms and 4,122 square feet. Listed for $1,795,000.
Optima Camelview – Three bedrooms and two and one-half bathrooms and 3,347 square feet. Listed for $2,200,000.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.