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Scottsdale Luxury Condo Sales

Phoenix and Scottsdale AZ Luxury Condo Sales – April 2011

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Here are the  final numbers for April 2011 for the Phoenix and Scottsdale luxury condo market. For the purposes of this report, I am defining the luxury condo market as condos for sale with an asking price over $1 million.

The same pending sale that has been reported on over the last couple of months was still pending at the end of April. The unit in question is at  The Residences at 2211 Camelback in Phoenix and has three bedrooms, three and one-half bathrooms, and is 4,000 square feet. The asking price was $1,100,000. One other unit went pending in April in the Scottsdale Waterfront Residences complex in Downtown Scottsdale. It was a three bedroom, three and one-half bathroom,  3,860 square foot home that was listed for $2,599,000.

There was a single luxury condo sale in April. The sale was for a home at Esplanade Place in the Biltmore area of Phoenix. This condo had three bedrooms, three bathrooms and came in at 3,350 square feet. The asking price on this unit was $1,599,000 and it ultimately sold for $1,400,000 after only being on the market for 42 days.
Scottsdale Phoenix Luxury Condos for Sale April 2011

April was a decent month for luxury condo sales in Scottsdale and Phoenix. We did see one sale turn and close pretty quickly. We also have two pending luxury condo sales in the pipeline. One has been in the process since February, so hopefully it will close in May.

Learn More About Phoenix and Scottsdale Luxury Condos
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Disclaimer: Information herein deemed reliable but not guaranteed. 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 resale luxury 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.
Copyright © 2011  Heather Tawes Nelson

 

 

Phoenix and Scottsdale AZ Luxury Condo Sales – February 2011

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Here are the results for Phoenix and Scottsdale luxury condo sales for the month of February 2011. For this analysis, I am defining luxury condos as those with a list price of $1 million or more.

At the end of February, there were two pending luxury condo sales, one in Phoenix and the other in Scottsdale. The Phoenix unit was only on the market for a couple of days when it went under contract.  This unit is a 3 bedroom, 3.5 bathroom, 4,000 square foot penthouse at The Residences at 2211 Camelback in the Biltmore neighborhood. It was priced at $1.1 million and is a short sale. The second pending sale was the Scottsdale Waterfront Residences in the heart of Downtown Scottsdale. This unit was a 3 bedroom, 3.5 bathroom, 2,503 square foot unit that was listed for $1,025,000.

The two sales were both units in Scottsdale and both were cash sales. The first sale was a penthouse at Safari Drive in Downtown Scottsdale. It was only on the market for a week and sold at the asking price of $1,050,000. This unit had 3 bedrooms, 3.5 bathrooms and was 2,279 square feet. The second sale was a little further north in Scottsdale in the Kierland neighborhood. This unit was located at The Landmark and had 2 bedrooms, 2.5 bathrooms and 2,566 square feet. It sold for $1,160,000.

Phoenix Scottsdale Luxury Condos for Sale Sales February 2011

Overall, February was another good month for the luxury condo market in Scottsdale and Phoenix. We now have two new pending luxury condo sales and the two that were pending at the end of the month should ideally close in March. It was also nice to see some sales and pending sales in developments that have not had a lot of movement in the million dollar plus range recently.

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  3/1/2010 and can change at any time. The analysis looks at resale luxury 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.
Copyright © 2011  Heather Tawes Nelson

What Will $1 Million Dollars Buy in a Scottsdale Home?

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Scottsdale AZ Luxury HomesThe lead headline today on the homepage of my web browser was all about how far your real estate dollar will go in today’s market. It inspired me to pull together a post about what kind of home a million dollars would buy in Scottsdale, Arizona.

Million dollar homes can be found all over Scottsdale. Whether it is a  luxury condo in the heart of Downtown Scottsdale, an elegant townhome in Silverleaf or a lovely custom golf home in one of many private golf communities of North Scottsdale, there are lots of options to choose from when considering million dollar Scottsdale homes.

If you are curious, here is a link to search Million Dollar Homes in Scottsdale. This link will take you to a list of homes with asking prices of $950,000 to $1,050,000 in Scottsdale, Arizona.

Phoenix and Scottsdale AZ Luxury Condo Sales – January 2011

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Optima Camelview Luxury Condos Scottsdale AZ
Optima Camelview – Scottsdale, AZ

Here are January 2011’s results for the Phoenix and Scottsdale luxury condo market. For the purposes of this report, I am defining luxury condos as condos on the market with asking prices in excess of $1 million.

January was another decent month for the Scottsdale and Phoenix luxury condo markets. All of the January activity was in Scottsdale. At the end of the month, there were two pending luxury condo sales and a single sale.

The January sale was at Optima Camelview, a very popular complex in downtown Scottsdale. It was a three bedroom, two and one-half bathroom unit on the 5th floor with 2,848 square feet. The sales price was $995,000.

The two pending sales at the end of January were found at Safari Drive, a contemporary complex in downtown Scottsdale that has recently started sales again and The Landmark which is farther north in the Kierland neighborhood.

Phoenix and Scottsdale Luxury Condo Market Information

 

Overall, January was a solid month for luxury condos in Scottsdale and Phoenix. The sale started the year off on a good foot and two pending sales could mean good news for February’s sales figures.

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 2/1/2010 and can change at any time. The analysis looks at resale luxury 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.
Copyright © 2011  Heather Tawes Nelson

Phoenix and Scottsdale Luxury Condo Market – 2010 Results

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– Scottsdale and Phoenix Luxury Condo Market Statistics – 2010 –

Here is an overview of the luxury condo market in Scottsdale and Phoenix for 2010. The year started off strong with sales averaging a little over 2 per month. However, in the second half of the year, sales activity stalled. Although, we did see the highest priced condo sale of the year in December.

Here are the results for both cities for the year. Things started off strong with 82% of the sales happening in the first two quarters. As the year went on, sales activity dropped sharply. However, the most expensive condo sale for the year, at $2,250,000, occurred in Q4.
Phoenix Scottsdale Luxury Condo Market Performance 2010

Here is a quick snapshot that compares luxury condo sales performance between 2009 and 2010. As you can see, sales were up 5 units over 2009, which is positive. However, average sales price slipped about $100K. This is something we saw throughout the market for all home types; Sales were up but average sales price was down. The good news is that even though sales price was down, average price per square foot was up relative to 2009.

Phoenix Scottsdale Luxury Condo Market Results 2009 versus 2010

 

Scottsdale Luxury Condo Market Statistics – 2010
Here is the same analysis as  above, but this one only includes Scottsdale luxury condo sales.

As we saw before, sales activity was decent at the beginning of the year, with 90% of sales occurring in the first two quarters. The final two quarters were dismal for Scottsdale though.

The bulk of sales in Scottsdale took place at Optima Camelview and Scottsdale Waterfront Residences.
Scottsdale Luxury Condo Market Performance 2010
Phoenix Luxury Condo Market Statistics – 2010
Here is the analysis for the Phoenix luxury condo market. Half of Phoenix’s condo sales took place in the first quarter and then there was only a single sale per quarter for the rest of the year.

Three Biltmore-area communities were home to the 2010 sales. The first was Esplanade Place and the other were The Residences at 2211 Camelback and 2 Biltmore Estates.  The year’s most expensive luxury condo sale was a beautiful unit at 2 Biltmore Estates.

Phoenix Luxury Condo Market Performance 2010

Overall, the luxury condo market performed better relative to 2009. The beginning of the year was really impressive from a sales standpoint, but the last two quarters were a struggle. Hopefully, the sales momentum will pick up and continue in to 2011.

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of  4/1/2010, 7/1/2010 and 10/1/2010 and 1/1/2011 and can change at any time. The analysis looks at resale luxury 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. Some rounding in the percentage figures may result in figures not adding to 100%.
Copyright © 2011  Heather Tawes Nelson

Phoenix and Scottsdale AZ Luxury Condo Sales – December 2010

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– December 2010 Scottsdale and Phoenix Luxury Condo Sales –

Here are the results for December 2010 for the Phoenix and Scottsdale luxury condo market. In this analysis, I define the luxury condominium market as condos for sale with an asking price of $1 million or more.

December was a decent month for the Scottsdale and Phoenix area luxury condo market. By the end of the month, we had the highest-priced condo sale of the year as well as another luxury condo in pending status.

December’s luxury condo sale was in Phoenix, in the elegant community of Two Biltmore Estates. This unit had three bedrooms, three and one-half bathrooms, 3,960 square feet and phenomenal views of the golf course, mountains and city lights. This was the most expensive condo sale of 2010 and the final sales price was $2,250,000.

The pending sale was in Optima Camelview of Scottsdale. This unit had an asking price of $1,195,000. It is a new, fifth floor unit with three bedrooms, two and one-half bathrooms and has 2,848 square feet.

December 2010 Luxury Condo Sales in Scottsdale and Phoenix

December was a nice suprise to end the year with. Going in, there were no pending sales, so the forecast looked to be disappointing. However, the Two Biltmore Estates sale closed in a mere 15 days. Additionally, the pending sale at Optima Camelview should help January’s sales figures if it closes this month.

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010 and can change at any time. The analysis looks at resale luxury 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.
Copyright © 2011  Heather Tawes Nelson

Phoenix and Scottsdale AZ Luxury Condo Sales – November 2010

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Here are November’s figures for the Phoenix and Scottsdale luxury condo market. For the purposes of this report, I am defining the luxury condominium market as condos on the market with list prices of $1 million or more.

November was a dismal month for the Scottsdale and Phoenix area luxury condo market. There were no luxury condo sales and there were not even any pending sales at the end of the month. This means December should be another poor month for this market segment, which is a disappointing way to end the year after we had seen some promising movement earlier in the year.

The bulk of Scottsdale luxury condos for sale can be found in two communities: Scottsdale Waterfront Residences and Optima Camelview. Both of these complexes are located in Downtown Scottsdale and are steps from exciting dining. shopping and entertainment. In Phoenix, most of the luxury condos for sale can be found in the Biltmore neighborhood and specifically in Esplanade Place.  The Biltmore is home to upscale dining and shopping as well as the famous Arizona Biltmore Resort.

Phoenix and Scottsdale Luxury Condo Market November 2010

 

November’s lack of activity was disappointing to say the least. Earlier in the year, Phoenix and Scottsdale luxury condos were selling and an average of just over 2 per month. December looks to be on track for zero sales as well unless a cash offer and quick close of escrow come into play.

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Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 12/1/2010 and can change at any time. The analysis looks at resale luxury 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.
Copyright © 2010 Heather Tawes Nelson

Phoenix and Scottsdale AZ Luxury Condo Sales – October 2010

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Here is a snapshot of the Phoenix and Scottsdale luxury condo market for October 2010. I define the luxury condo market as condominiums for sale with asking prices of $1 million or more.

The Scottsdale and Phoenix area luxury condo market had a slightly better October than September, however it is still not up to the average of slightly over two sales a month pace we saw earlier in the year.

At the end of October, there were no pending luxury condo sales in Scottsdale and Phoenix, but there was a single sale. The single sale was in Scottsdale at the Optima Camelview community. It was for an oversized penthouse unit (two units combined) with three bedrooms, three and one-half baths and 3,233 square feet.  It was a foreclosure and sold for its asking price at $1,299,800.

Scottsdale And Phoenix Luxury Condo Sales October 2010

The positive note is that we did see a luxury condo sale in October following a September with no sales. Inventory is also down a little bit. However, the absence of any pending sales causes concern for November sales figures.

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 11/1/2010 and can change at any time. The analysis looks at resale luxury 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.
Copyright © 2010 Heather Tawes Nelson

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