The Greater Phoenix Luxury Condo Market - December 2008
December 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* |
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For Sale: | 98 |
Pending: | 1 |
Sold: | 2 |
Average Sale Price: | $1,197,500 |
Average Price/Sq. Ft. Sold: | $547.42 |
If you have any questions about the luxury condo market or would like to learn more about the communities mentioned above, please feel free to contact me.
Disclaimer:
Information herein deemed reliable but not guaranteed. Data was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/09 is subject to change at any time. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2009 Heather Tawes Nelson