- Luxury Condo Sales in Scottsdale and Phoenix – February 2015 -
As we entered the month of February, there was a very healthy number of pending Phoenix and Scottsdale luxury condo sales in the pipeline. By the end of the month, the majority of them had closed, making it a great sales month.
For the purposes of this analysis, I am defining the luxury condo market as units with asking prices of $1 million or more.
ACTIVE LISTINGS AT THE END OF FEBRUARY
Inventory increased again to forty-five units for sale at the end of the month. Twenty units were in Scottsdale and the other twenty-five were in Phoenix.
The Landmark condos continued to be the community with the most expensive condo for sale at $2,860,000. This elegant home has 4,480 square feet, three bedrooms and three bathrooms.
Two units were priced at $1,000,000 making them the least expensive luxury condos on the market at the end of the month. They were located at The Landmark and Kierland Plaza Lofts.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Pending sales dropped sharply from seven at the end of January to one at the end of February.
The single pending sale was located in the Scottsdale Waterfront Residences. Its asking price was $1,279,000 and it had two bedrooms, two and one-half bathrooms and 2,232 square feet.
LUXURY CONDO SALES FOR FEBRUARY 2015
There were an impressive six sales in February, with four in Scottsdale and two in Phoenix.
Scottsdale Luxury Condo Sales
- The most expensive sale of the month was for a unit at The Landmark. It had 3,842 square feet, three bedrooms and two and one-half bathrooms. It had been listed for $2,225,000 and sold for $1,975,000.
- Two of the sales came from Scottsdale Waterfront Residences. One was a 1,659 square foot, two bedroom, two and one-half bathroom unit that had been listed for $1,095,000 and sold for $1,015,000. The other was a 2,503 square foot condo with three bedrooms and three and one-half bathrooms. It was on the market for $1,749,000 and sold for $1,650,000.
- The final sale took place in Optima Camelview Village. Listed for $1,250,000, it had 3,005 square feet, three bedrooms and three bathrooms. It sold for asking price.
Phoenix Luxury Condo Sales
- Both February Phoenix sales took place in the Biltmore community. The first was at Fairway Lodge, located at 8 Biltmore. The condo, listed for $1,100,000 had 2,376 square feet, two bedrooms and two and one-half bathrooms. The final sales price was $1,057,000.
- The final sale was in Two Biltmore Estates.The condo had four bedrooms, four and one-half bathrooms and 3,580 square feet. It had been listed for $1,878,000 and sold for $1,750,000.
The luxury condo market in Scottsdale and Phoenix had a great sales month. However, activity will need to pick up in March as activity looked to be slow as the month kicked off.
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Originally posted on Live Better in Scottsdale
Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2015 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 © 2015 Heather Tawes Nelson | Joyce Tawes
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