Greater Phoenix Luxury Condo Market - December 2008

By
Real Estate Agent with Realty ONE Group

Scottsdale Luxury CondoDecember wrapped up the year for the luxury condo market, which is defined as condos listed for sale for more than $1 million. At the end of December, there were 98 luxury condos for sale throughout the valley, up from 93 at the end of October. Of those, 46 were in Scottsdale, 36 were in Phoenix and the remaining 16 were in Tempe. The average asking price for these luxury units is $1,713,320, with the most expensive unit being listed for $4,250,000.

At the end of December, there was one pending sale at the Scottsdale Waterfront that was listed for $1,375,000.

There were two luxury condo sales in December, both in Scottsdale. The first was a 2 bedroom, 2.5 bathroom, 2,227 square foot unit at the Scottsdale Waterfront Residences and it sold for $1,100,000. The second sale was a 3 bedroom, 2 bathroom, 2,154 square foot unit at Optima Camelview that sold for $1,275,000.

Valleywide - December 2008*

 

For Sale:

98

Pending:

1

Sold: 

2

Average Sale Price:

$1,197,500

Average Price/Sq. Ft. Sold:

$547.42

If you would like to see the original post or to learn more about the Scottsdale AZ Real Estate market, please visit Scottsdale Real Estate News & Lifestyle.

Disclaimer:
Data was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/09 is subject to change at any time. This data covers resales and any developer inventory placed on the MLS. 
Copyright © 2009 Heather Tawes Nelson

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Topic:
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Tags:
scottsdale luxury homes
tempe luxury condos
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scottsdale market conditions
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Rainmaker
413,545
Andrew Monaghan
The Monaghan Group - Glendale, AZ
CRS, GRI, EPro Associate Broker

Does these numbers include units on the market by the developers or just resales?

Jan 22, 2009 02:58 AM #1
Rainmaker
493,885
Heather Tawes Nelson
Realty ONE Group - Scottsdale, AZ
Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ

Hi Andrew-
These figures are just for resale. It may include some developer invenvtory if the developer has chosen to place the listings/information on the MLS. I will update my blog to make that clear. Thank you for your question!

Jan 22, 2009 03:58 AM #2
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Rainmaker
493,885

Heather Tawes Nelson

Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
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