Greater Phoenix Luxury Condo Market Report- August 2008
Here are August’s numbers for the luxury condo market, which is defined as condos for sale for more than $1 million.
At the end of August, there were 105 luxury condos for sale throughout the valley. Fifty-three of these condos were in Scottsdale, thirty-six of them were in Phoenix, and sixteen were in Tempe. As of the end of August 2008, three luxury condos had sold and another three were pending. The three condos sold were from three different developments – Scottsdale Waterfront, The Residences at 2211 Camelback and Two Biltmore Estates. The pending condos were in the Scottsdale Waterfront, Optima Camelview and Esplanade Place developments.
Here is an overview of August 2008’s numbers:
| Valleywide – August 2008* | |
| For Sale: | 105 |
| Pending: | 3 |
| Sold: | 3 |
| Average Sale Price: | $1,695,167 |
| Sales Price to List Price | 95% |
| Average Price/Sq. Ft. Sold: | $553.49 |
| |
| Scottsdale – August 2008* | |
| For Sale: | 53 |
| Pending: | 2 |
| Sold: | 1 |
| Average Sale Price: | $1,237,500 |
| Sales Price to List Price | 83% |
| Average Price/Sq. Ft. Sold: | $555.68 |
| Communities: | Scottsdale Waterfront |
| |
| Phoenix - August 2008* | |
| For Sale: | 38 |
| Pending: | 1 |
| Sold: | 2 |
| Average Sale Price: | $1,924,000 |
| Sales Price to List Price | 100% |
| Average Price/Sq. Ft. Sold: | $552.39 |
| Communities: | Two Biltmore Estates |
| 2211 Camelback |
| |
| Tempe- August 2008* | |
| For Sale: | 16 |
| Pending: | 0 |
| Sold: | 0 |
| Average Sale Price: | N/A |
| Sales Price to List Price | N/A |
| Average Price/Sq. Ft. Sold: | N/A |
| Community: | N/A |
If you have any questions about the luxury condo market or would like to learn more about any of the communities mentioned above, please feel free to contact me.
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* Disclaimer:
Information herein deemed reliable but not guaranteed. Data pulled the Arizona Regional MLS (ARMLS) and can change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2008 Heather Tawes Nelson