The Scottsdale Urban Condo market is on fire now and looks to be coming back to life! Let’s look at the number alone this year…
– 20 Sales above $1,000,000
– Most Expensive Penthouse sold for 3.6 Million, trading at $811 – 853 dollars a foot.
– Most Popular Developments (Scottsdale Waterfront, Optima Camelview, and Kierland)
– Scottsdale Waterfront is trading on average at $470 a Sq. ft ($853 Highest, $350 Lowest)
– Optima Camelview is trading on average at $383 a Sq. Ft ($641 Highest, $277 lowest)
– Kierland is trading on average at $536 a Sq. Ft ($583 Highest, $428 Lowest)
– The Mark is trading on average at $355 a Sq. Ft ($448 Highest, $270 Lowest)
– Penthouses in Scottsdale are Trading on average at $609 a Sq. Ft ($853 highest, $417 lowest).
Now let me start by saying that not all square feet is created equal. Floor location and views can also increase and help achieve top dollar to record breaking sales prices and must be considered when pricing a condo or Penthouse in today’s urban market. The numbers above only include 1-3 quarters or January – September only. These numbers will be updated at the end of the year and I do see the trading prices continue to climb 10% for the Scottsdale Waterfront and 5-10% at the Kierland. I also believe that we will record another 5-10 sales above 1 Million, ending the year extremely strong for the urban condo market.
Many people ask me why Purchase a Condo in Scottsdale? Because it’s a lifestyle & Investment choice. Condos are perfect for lock and leave jet set lifestyle, 2nd homes used a few times a year, + condos come with tax breaks and lower property taxes. Depending on price and location some condos in Arizona will offer concierge service, hotel access, and luxury amenities. Now about property taxes yes you will save, but what you save will be paid towards HOA dues and some can run you upwards of $1,000 a month. Condos are great investments as well because they can easily be rented out monthly or yearly. Depending on the location, property, and luxury access can also be rented out daily or even used a vacation rental.
If you are considering buying or selling a Condo in the Scottsdale Real Estate Market give us a shout, we can be reached at 480.458.8007 or by email LavishPadBoutique@Gmail.Com