- Phoenix and Scottsdale AZ Luxury Condo Sales – December 2013 -
The luxury condo market in Scottsdale and Phoenix ended the year on a solid note, wrapping up a very good year for this segment.
This analysis defines luxury condos as those units for sale with a list price of $1 million or more and covers sales activity in Scottsdale and Phoenix.
ACTIVE LISTINGS AT THE END OF DECEMBER
Inventory has remained flat over the last couple of months in the remained flat over the last few months, unlike the larger swings we saw in the single-family home market. At the end of December, 26 luxury condos for were on the market, with 18 of them in Scottsdale and 8 in Phoenix.
The most expensive condo on the market at the end of the year was a new listing at The Landmark, in the Kierland area. This very large penthouse, coming in at 4,480 square feet with three bedrooms and three and one-half bathrooms, came onto the market for $3,700,000.
The least expensive condo for sale was a condo in Old Town's The Mark. This unit comes with two bedrooms, two and one-half bathrooms and 2,451 square feet. It is listed for $1,000,000.
PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX
At the end of December, there were a total of four pending sales, all of which were located in Scottsdale.
They ranged from a unit at the The Landmark in North Scottsdale listed for $1,299,000 all of the way up to a unique property that has been on and off the market, which was listed for $2,499,0000. This particular condo occupies the whole top floor of a commercial building and has special requirements for sale.
LUXURY CONDO SALES FOR DECEMBER
There were two sales to finish off the year, and each city had one sale.
In Phoenix, the sale was a condo on the sixth floor at The Residences at 2211 Camelback, in the Biltmore area. This unit had three bedrooms, three bathrooms an 2,894 square feet. It had been listed for $1,150,000 and sold for that amount via a cash purchase.
The second sale took place at the Scottsdale Waterfront Residences. This condo on the 8th floor had three bedrooms, three and one-half bathrooms and 2,503 square feet. The asking price had been $1,550,000 and it sold for $1,375,000 in a cash transaction.
Overall, December sales activity was a nice way to end the year for luxury condo sale in Scottsdale and Phoenix. We ended the year with two sales and four more in the pipeline for 2014.
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 1/1/2014 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 December 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 © 2014 Heather Tawes Nelson