Here are the numbers for March for the Phoenix and Scottsdale luxury condo market. For the purposes of this analysis, I am defining this market as condos with asking prices of $1 million or more.
March was another somewhat quiet month for this segment. Below you will see a chart with sales activity during the month. The first column looks at summary data and then activity for each city is presented.
ACTIVE LISTINGS & PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
The least expensive luxury condo for sale at the end of March was a 4th floor unit at The Landmark in the Kierland area. It is a three bedroom, two and one-half bathroom condo with 2,630 square feet. It is listed for $1,070,0000
The most expensive unit was the same as last month. This 10th floor unit is at Esplanade Place in the heart of Phoenix's Biltmore area. It is listed for $2,650,000 and has 4,286 square feet, three bedrooms and four bathrooms.
There was a single pending sale at the end of March. This is a unit that was under contract for several months last year and never closed. It was taken off of the market and is now back as pending. This is a very unique property as it is the entire top floor of the Camelback Tower. It has five bedrooms, eight bathrooms and 7,254 square feet. It currently needs very extensive renovations and was priced at $2,499,000 at the time it went under contract.
MARCH 2013 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
There was a single sale in March. It was at the Fairway Lodge at the Biltmore. This top floor unit had two bedrooms, two and one-half bathrooms and 2,992 square feet. It had been listed for $1,150,000 and sold for $1,000,000.
March was a quiet month for the luxury condo market in Scottsdale and Phoenix. Hopefully, activity will pick up in April.
FIRST QUARTER 2013 RESULTS FOR THE SCOTTSDALE AND PHOENIX LUXURY CONDO MARKET
Here are the sales statistics for Q1 2013. As you can see, the lion's share of sales have occurred in Scottsdale and the average sales price is quite a bit higher. Ideally, we will see more activity in Phoenix as the year progresses.
herein deemed reliable but not guaranteed. Data and information was
pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2013 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.