- Phoenix and Scottsdale AZ Luxury Condo Sales – February 2013 -
February was a quiet month for the Phoenix and Scottsdale luxury condo market. For the purposes of this report, I consider the luxury condo market as condos listed for sale with prices in excess of $1 million.
The chart below looks at condo sales activity during the month of February. 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 February was a loft at the Hotel Valley Ho's Tower Residence in Scottsdale. This unit comes with all of the amenities of the Hotel Valley Ho and has two bedrooms and two and one-half bathrooms. The asking price was $1,029,000.
The most expensive unit was listed for $2,650,000 and could be found at Esplanade Place in the heart of Phoenix's Biltmore area. This 4,286 square foot condo has three bedrooms, four bathrooms and is on the 10th floor.
There were no pending sales of luxury condos at the end of February.
FEBRUARY 2013 LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
Two luxury condos sold in February and they were both in Scottsdale.
The first sale was at Kierland Plaza Lofts. The unit had two bedrooms, two and one-half bathrooms and 2,047 square feet. It was located on the 7th floor. The list price was $1,145,000 and it sold for $1,132500.
The second sale was an incredible unit at the Scottsdale Waterfront Residences. It had been listed for $3,500,000 and sold for $3,200,000. This luxurious unit had two bedrooms, four bathrooms, 3,751 square feet and was only on the market for 75 days, which is impressive at this price point.
February was a slower month for the luxury condo market in Scottsdale and Phoenix. Inventory was up slightly, which is good news as there are not too many units on the market. The two sales were also positive. However, not having any pending sales in the pipeline at the end of the month could mean March sales will be low or none will occur.
Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 3/1/2013 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